Celartem Technology Announces Merger of US Holdings
Press release from the issuing company
SEATTLE, Wash. - March 8, 2005 - Celartem Technology Inc., today officially announced a merger of its three US companies, Extensis, Inc., LizardTech, Inc. and Celartem, Inc. Both Extensis and LizardTech will retain their employees, offices and corporate brand but will operate under the Celartem, Inc. holding company. The combined entity has projected revenues exceeding $30M and more than 160 employees.
"Celartem Technology Inc. merged its three US holdings in an effort to leverage each company's strengths across business models," said Yasuo Kano, Celartem Technology President and Chairman of the Board of Directors. "Creating a larger cohesive entity will result in a more competitive organization that can better serve customers and create a more efficient operation toward profitability for shareholders."
Carlos Domingo, formerly with Celartem Technology and currently the CEO of LizardTech, has been appointed President and CEO of Celartem, Inc. and will have responsibility for both Extensis and LizardTech operations. "Our newly merged company will leverage Extensis' deep distribution channels and customer base and LizardTech's understanding of the government and publishing markets to better serve our existing and future customers and partners," said Domingo. "As a result, LizardTech and Extensis will be better positioned to expand their efforts in their respective markets."
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