SOURCE: Internet Commerce Corporation

February 14, 2007 09:00 ET

Internet Commerce Corporation Acquires Stewart Technical Services

NORCROSS, GA -- (MARKET WIRE) -- February 14, 2007 -- Internet Commerce Corporation (ICC) (NASDAQ: ICCA), a leader in business-to-business e-commerce solutions, today announced that it has completed the acquisition of Stewart Technical Services (STS), a privately held provider of EDI services in Carrollton, Georgia. Through this acquisition, the Company adds accretive revenue, extends its industry-leading EDI capabilities into the specialty gift market, and forges a strategic partnership with a developer of accounting software.

"We welcome STS customers, partners and employees to ICC," said Thomas Stallings, ICC's chief executive officer. "This acquisition demonstrates continued momentum with our 'Growth with Profitability' strategy. STS complements and strengthens our existing offerings, enables us to leverage a strategic partnership and adds highly profitable revenue to our income statement."

ICC plans to continue the development and support of STS offerings by integrating STS development initiatives into ICC's development organization, combining STS' support personnel within ICC's support organization in Carrollton, Georgia, and moving the STS infrastructure into ICC's data center. The integration is expected to be complete within forty-five days, thus consolidating operations and streamlining the expense structure of the combined entity.

ICC expects accretive net revenues to be between $250,000 and $300,000 for the remaining six months of fiscal 2007 and believes STS will contribute bottom line profitability following the acquisition. It is expected to add $0.01 to earnings per share on an annual basis.

Terms of the deal were not disclosed.

About Internet Commerce Corporation (ICC)

Internet Commerce Corporation (ICC), headquartered in Norcross, GA, is a leader in business-to-business e-commerce solutions. Thousands of customers rely on ICC's comprehensive line of solutions, in-depth expertise, and unmatched customer service to help balance cost, fit, and function required to meet unique requirements for trading partner compliance, coordination, and collaboration. With its software solutions, network services, hosted web applications, managed services, and consulting services, ICC is the trusted provider of solutions for businesses, regardless of size and level of technical sophistication, to connect with their trading communities. For more information, visit www.icc.net.

Contact Information

  • Media Contact:

    Terri Deuel
    Internet Commerce Corporation
    678-533-8003