NewMarket Technology to acquire Everex for undisclosed sum

Jun 24, 2008 (TELECOMWORLDWIRE via COMTEX) -- NMKT | Quote | Chart | News | PowerRating -- NewMarket Technology Inc (OTC BB:NMKT.OB), a provider of recognised technology solutions, announced on Monday (23 June) that the company has entered into a binding agreement with First International Computer Inc (FIC) to acquire a 75% interest in Everex, a provider pf products and peripherals for personal computers.

Everex has recently introduced the CloudBook, an ultra mobile, low cost and lightweight portable computer which is WiMax enabled. The company had approximately USD100m in revenues in 2007.

The acquisition is reportedly part of a comprehensive plan by the company to build a US wide mobility technology solution, and Everex is expected to be the cornerstone of this mobility technology solution.

The transaction is expected to be completed by September 2008.

The company said that the financial terms of the agreement are confidential.

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