Contact Information: Contact: NewMarket Technology, Inc. Investor Relations 214-722-3065 ir@newmarkettechnology.com
NewMarket Technology, Inc. $20 Million Latin American Operation to Be Quoted on OTCBB With Dividend Planned for NewMarket Shareholders
| Source: NewMarket Technology, Inc.
DALLAS, TX--(Marketwire - October 12, 2009) - NewMarket Technology, Inc. (PINKSHEETS : NWMT )
today announced an agreement to merge its operations headquartered in
Brazil with Worldwide Strategies, Inc. (OTCBB : WWSG ). NewMarket's operation
in Brazil has approximately $20 million in annual revenue. The anticipated
merger is expected to include a dividend of Worldwide common stock to
NewMarket shareholders. NewMarket will be the majority shareholder of
Worldwide as a result of the transaction and the operations in Brazil will
continue to be consolidated into NewMarket's financial statement in
addition to being independently reported in the Worldwide financial
statement.
"We have three intended objectives for the planned merger with Worldwide,"
said Philip Verges, CEO of NewMarket Technology, Inc. "The first objective
is to reestablish an independent listing for NewMarket Latin America
shareholders. The second objective is to deliver on the long anticipated
dividend of common stock from NewMarket's Latin American subsidiary to
NewMarket shareholders, and the third is to establish a national exchange
listing for NewMarket's systems integrations business. In a Webcast
tomorrow I will elaborate further on all three objectives."
"The management teams at Worldwide and NewMarket are meeting in Dallas next
week," said James Samuels, CEO of Worldwide Strategies. "Both management
teams are committed to completing the Brazilian operation merger with
Worldwide by the end of this year. The Brazilian merger alone is a
substantial opportunity for NewMarket, NewMarket Latin America and
Worldwide shareholders. The next step to leverage Worldwide as a platform
to achieve a national exchange listing for all NewMarket's systems
integration operations is an even more substantial opportunity."
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Company, please visit www.newmarkettechnology.com.
About NewMarket Technology, Inc. (www.newmarkettechnology.com)
NewMarket is a reporting company with audited financial reports filed with
the SEC. NewMarket provides systems integration, technology infrastructure
services and emerging technology worldwide. NewMarket has a focus on
providing technology and support services to rapidly growing economies
where technology purchasing is on the rise. In addition to its base of
operations in North America, NewMarket has operations today in the growing
economies of China, Southeast Asia, Brazil and Northern Latin America. Last
year the Company reported over $40 million in revenue from Asia and over
$20 million in revenue from Latin America. Overall, NewMarket reported over
$95 million in revenue for 2008.
Across the globe, NewMarket is a Microsoft and Oracle partner, distributes
various computer hardware and peripherals from brand partners such as Dell,
HP, IBM, Cisco, Sony, Epson, Canon and Sanyo and is also an authorized
reseller of operating systems and various software from companies such as
Red Hat, Sybase, IBM, BEA, Veritas and others. Additionally, the Company
works with emerging technologies such as mobile computing, various security
and wireless broadband technologies.
NewMarket's rapid growth since 2002 has placed the Company on the Deloitte
Technology Fast 500 for 5 consecutive years. NewMarket was recognized as
the third fastest growing technology company in the United States in 2006
and the number one fastest growing technology company in North Texas for
two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause NewMarket's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.