SOURCE: On the Go Healthcare

July 20, 2005 08:56 ET

On The Go Technologies Group Finalizes Infinity Technologies Acquisition

Company 12 Month Revenue Run Rate Increases to $32M+ With Division Purchase

CONCORD, ON -- (MARKET WIRE) -- July 20, 2005 -- On The Go Technologies Group (OTC: OGHC) ('the Company'), a leading multi-industry computer hardware, software and peripherals VAR and systems integrator and corporate multimedia digital service solutions provider, announced today that the Company has finalized the acquisition for principal Canadian IT VAR Infinity Technologies Inc as of July 19, 2005. A Letter of Intent to purchase Infinity Technologies was announced June 6, 2005. Details of the purchase will be disclosed in an 8K to be filed shortly with the SEC.

Infinity marks both the 4th IT Sector acquisition for the Company in 21 months and an increase in the 12 month revenue run rate to more than $32M.

Based in Mississauga, Ontario, Canada, and one of the country's largest VARs, Infinity Technologies has built a thriving business reselling prestigious hardware, software and packaging consultation solutions for large Canadian corporations since 1988. Cohesive choice and exceptional management of corporate IT resources and applications are Infinity trademarks. They offer outstanding enterprise management systems as well as integration solutions targeting storage, security and disaster recovery and complete service and preventative maintenance of all hardware they sell. Additionally, Infinity has vendor relationships with numerous industry heavyweights inclusive of IBM, Apple, HP and Toshiba, and has realized annual revenues of approximately $25 million for the past several years.

"The addition of Infinity Technologies to the On The Go family has without doubt bolstered our industry standing as Canada's premier product and multi-industry VAR," commented On The Go Chief Executive Officer, Stuart Turk. "Their corporate directive, industry reach, respect amongst their industry peers, and proven financial return all bode exceptionally well for the Company moving forward. On behalf of the Management and Board of Directors, I heartily welcome them aboard."

"I can most assuredly speak on behalf of all of our senior management and key personal when I say that we're exceptionally excited about the great potential that the Infinity acquisition presents to all of us moving forward and, indeed, to the marketplace as a whole," added Infinity Technologies Director Frank Abate. "Most importantly, our collective customers -- many of ours are quite complementary to those of Helios and Compuquest -- have thrown their support 100% behind our corporate amalgamation. We look forward to great relationships and new and profitable ventures in the years to come."

About On The Go Technologies Group

On The Go's Compuquest division is a value added reseller of computer hardware, software, peripherals, and supplies. Compuquest serves hundreds of clients in the US and Canada, including Fortune 500 corporations, hospitals, government ministries, universities, banking and insurance bodies, and law and accounting firms. Compuquest has won the Consumers' Choice Gold Award for Best Business Computer Dealer for the past nine consecutive years. For more information, visit www.compuquest.com.

Helios|Oceana is a leading system integrator of computer hardware and software with customers in the entertainment, education, print and publishing industries, providing complete and innovative digital imaging solutions packages. Helios is also the integration partner of choice of digital hardware and software technology leaders. They are a preferred digital solutions provider to Apple, IBM, HP and SGI. For more information, visit www.heloc.com.

Infinity Technologies, one of Canada's principal computer hardware and software VARs, is a reseller of prominent computer hardware and software to, and packaging consultation solutions for, large Canadian corporations. They offer highly scalable enterprise management systems as well as integration solutions targeting storage, security and disaster recovery and complete equipment service for all hardware that they sell. Infinity caters to industry heavyweight clientele, many of them Fortune 500 companies and of comparable category to those of Compuquest. For more information, visit www.infinitytech.com

The Company's multimedia division, Go Motion and Design, offers professional services as corporate video production (inclusive of full production value, voice and scripting), website development, company webcast, web & print ads, television commercials, package design, 3D effects and DVD and CD creation. In addition to in-house communication material formulation, all services will be marketed to public and private companies and, where applicable, will be mass produced for distribution. For more information, visit www.gomotion.ca.

For more information, visit: www.oghc.com or www.otcfn.com/oghc

To be added to On The Go's email list for Company news, please visit: www.onthegohealthcare.com/new_site/inv_pkg_form.htm

This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting retailers, distributors and manufacturers; continuing success introducing new products; the Company's ability to finance its planned expansion efforts; the Company's ability to manage its planned growth; continued availability of raw materials for the child and health care lines at reasonable costs; continued ability to obtain hardware, software and peripherals at competitive costs; and changes in regulations affecting the Company's business and such other risks disclosed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations, except as required by law.

Contact Information

  • Company Contact:
    Al Kau
    888-795-3166 (California)
    Email Contact

    Investor Relations Contact:
    Geoffrey Eiten
    OTC Financial Network
    Tel: 781-444-6100 ext. 613
    Email Contact