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The Jackson Rivers Company, Inc. Completes Acquistion of UTSI International Corporation, a Leader in SCADA Design and Management for Oil and Gas Industry
HOUSTON, May 10 /PRNewswire-FirstCall/ -- The Jackson Rivers Company, Inc. (OTC Bulletin Board: JKRI) announced today that it has completed the acquisition of UTSI International Corporation. Based in Houston, Texas, UTSI International Corporation is a 21 year old international company that has grown into one of the leaders in engineering and information solutions for the oil and gas pipeline industry. UTSI provides supervisory control and data acquisition (SCADA), telecommunications and other specialized services to major pipeline operators and utility companies worldwide. Additionally, UTSI provides leak detection and hydraulic modeling consulting services, and is considered to be one of the leading independent sources of such expertise.
Founded in 1985 by Daniel Nagala, UTSI has been responsible for the design and implementation of sophisticated telecommunication and control systems for many of the world's largest energy and telecommunication corporations. Many of these services and systems are now being reengineered and designed to fit in the growing Machine to Machine (M2M) space, which is the focus of JRKI's business development plan.
UTSI will now join JKRI's other Houston based subsidiary, Diverse Networks, Inc. and focus their expertise to expanding the market share of JKRI in many of the M2M market segments. Daniel Nagala was elected to the Board of Directors of The Jackson Rivers Company.
Daniel Nagala, President of UTSI said, "I am delighted to have this acquisition process completed, and we look forward to combining our respective capabilities so we can expand our business services to a much broader market segment. We have known the principals at Diverse Networks for many years and have previously worked together on many projects with them. There are no doubts in my mind that now that we have joined forces, our services to current and new clients will be both expanded and enhanced."
UTSI's current customers include Shell Pipeline, Koch Industries, Panhandle Energy, New York City Transit Authority, Baltimore Gas & Electric, Louisiana Offshore Oil Port (LOOP), LLC, gasNatural, SDG (Spain) and Sakhalin Energy Investment Company, Ltd. (Russia).
"We are extremely happy to welcome our old friends at UTSI to the new and exciting Jackson Rivers Company," stated James Nelson, President of Jackson Rivers Company Inc. and CEO of Diverse Networks, Inc. "I can't help but believe that this formal joining of our respective companies will bring significant benefits for all of us in the future."
Further terms and conditions of the merger agreement will be published in the recent Form 8-K filed by the Company with the Securities and Exchange Commission. More information on Jackson Rivers Company can be found at ww.jacksonrivers.com. Information on Diverse Networks can be found at http://www.diversenet.com. Information on UTSI International can be found by visiting their web site at http://www.utsi.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of JKRI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future JKRI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and JKRI has no specific intention to update these statements.
SOURCE The Jackson Rivers Company, Inc.
Contact Information: Janet Whitehead of The Jackson Rivers Company, Inc., +1-619-342-7449
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