DENVER, Dec. 4, 2000 (PRIMEZONE) -- Global Connections, Inc. (OTHER OTC:GLCO), a provider of insurance marketing and support, announced today it has signed the final merger agreement with Capital Information Systems (CIS), a privately held company based in Denver. CIS has relocated their Denver offices to Global Connections, Inc.'s new corporate offices at 2000 S. Colorado Blvd., Denver, and are in the process of consolidating their operations.
"The technical expertise of CIS, along with their superior customer focus, complements GLCO's ability to delivering products and real-time comparison, quoting and binding of insurance policies for insurance companies, agents, financial institutions or other companies marketing and selling insurance products," said James B. Frack, president and CEO of Global Connections.
Capital Information Systems
Capital Information Systems has been named one of the fastest growing companies in the country by Inc. magazine, which recently released its annual ranking of the Inc. 500, the comprehensive guide to America's fastest-growing private companies. CIS announced sales of $7,112,617.03 for the period ended June 30, 2000, an increase of 62.3 percent from the same period last year. Additionally, Andrew Marcopulos, CEO of Capital Information Systems, Inc., was named a finalist for the Rocky Mountain Region's 1999 Ernst & Young Entrepreneur of the Year award in the High Tech category.
"By joining Global Connections, we will be able to make our technology products and expertise available to the more than 1.5 million insurance agents in the country, plus insurance companies and other financial institutions which sell insurance products," Marcopulos said. "The combination of GLCO and CIS provides for the synergy to develop and fulfill the business opportunities which exist for our clients and shareholders," he added.
"CIS brings the kind of pioneering, innovative and cutting-edge services Global Connections needs as the premier supplier of computer products, consulting services and insurance products in the country. This merger defines both our leadership and the landscape of the insurance marketing industry," said Frack. "The focus on insurance in today's marketplace in sales, marketing and improving support for consumers while reducing administrative costs has never been greater. The addition of the technical expertise of CIS allows us to bring the critical technical products and support to the insurance industry," he added.
About CIS
CIS is a customer-focused provider of technical products and services. Founded in 1992, CIS supports companies throughout the United States with more than 100,000 products and a full menu of network and consulting services. CIS had combined revenue of over $22 million for the fiscal years 1998 and 1999 and is on track for another record year in 2000.
About Global Connections
Global Connections, Inc. is a leading provider of insurance technology marketing and support for insurance companies, agents, financial institutions and other companies marketing insurance products. The company combines traditional insurance stability with industry-leading expertise in hardware and software via virtual private networks. After an extensive corporate restructuring in 2000, Global Connections now strives to provide a competitive advantage for companies marketing insurance products using technology to benefit the consumer and provide significant value to carriers, agents and brokers.
For additional shareholder information, please contact Mark Taggatz at (949) 477-0640 or email at wsmg@earthlink.net.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Global Connections and Capital Information Systems actual results in the future periods to differ materially from forecasted results.