DENVER, Nov 11, 1999 /PRNewswire via COMTEX/ -- Vertical Computer Systems, Inc. (OTC Bulletin Board: VCSY) (Vertical) announced today that it has acquired Externet World Inc., a California Corporation. Externet World Inc. is a Global E-Corporation Solutions company comprised of four segments -- Internet services (including web hosting, custom website development and design), turnkey software design, development of proprietary software for the online casino industry and development of international e-commerce solutions such as ShoppingInternet.com (www.shoppinginternet.com).
With the acquisition of Externet World Inc., Mr. Richard Wade was appointed President of Vertical Computer Systems, Inc.
Mr. Wade stated, "This acquisition will allow our Company to work with strategic investment partners who can offer investment capital to expand into new arenas and fuel our Internet business. The Company intends to invest or acquire interests within several Internet properties throughout the coming months allowing Externet World to offer many of its best selling software products online. The Company feels that this strategy provides the ability to significantly increase shareholder value as well as provide management with capital to support growth of the Company's subsidiaries."
Vertical Computer Systems, Inc. prior to the acquisition was a developmental stage company attempting to establish itself as a computer services company.
Forward-looking statements in this release are made pursuant to the Safe Harbor provision of the Private Securities Litigation Act of 1995. These forward-looking statements are subject to certain risks and uncertainties and actual results could differ from those discussed. This material is information only, and is not an offer or solicitation.
SOURCE: Vertical Computer Systems, Inc.