PTSH, PTS Inc., PTSH.OB
PTSH has entered into a Share Exchange Agreement pursuant to which PTSH will acquire 70% of ThinLine Technology Group at the closing.
Closing shall occur as soon as PTSH receives satisfactory audited financials from ThinLine, but not later than December 31, 2010.
ThinLine Technology Group manages, markets and maintains the IT and VoIP infrastructure for small and medium businesses (SMB market) and provides Private Cable Operators (PCO market) private label billing and call center support. At present, the company services over 21,000 clients on behalf of Private Cable Operators and over 400 apartment properties across the United States.
The company consists of three divisions of expertise that provides one-stop solutions for customers’ technology needs across a broad spectrum of marketing, support and technology services:
ThinLine IT: providing CTO services and consulting, remote server and desktop support, disaster recovery, hosted exchange, software development, mobile application development and managed IT services.
ThinLine Connect: providing Internet and communications system consulting, business VoIP, hosted PBX technology, web-based CRM tools, and white-label call center support services.
ThinLine Interactive: providing local search marketing, social media marketing consulting, pay-per-click marketing, web hosting, web development and optimization, and mobile (SMS) marketing.
Raj Kalra has been named Chairman and Chief Executive Officer of PTSH, effective immediately.
Mr. Kalra replaces Teresa Rubio who has served as Chairman and Marc Pintar who has served as PTSH Interim Chief Executive Officer. In addition to his role as CEO, Mr. Kalra will serve on PTSH's Board of Directors.
Raj Kalra is the founder and CEO of ThinLine Technology Group, and brings over a decade of leadership, management skills and experience in the information technology industry.
Prior to founding ThinLine, Mr. Kalra spent 20 years in developing and expanding start-up businesses, public corporations and turn-around.
"I'm very pleased to be named the CEO of PTSH," said Raj Kalra. "I am working very hard to bring value to our shareholders. My first order of business is to announce that PTSH, via ThinLine, has been granted a contract to develop and manage the modifications to a certain proprietary cloud computer software solution that ThinLine created based on the client's requirements for an online inventory management system for contracts that they manage for cable operators nationally." Raj Kalra continued, "This system tracks the sales process and contract maintenance between the cable operator and the property owner/investment company. It also tracks revenue sharing that is owed to the property based on right-of-entry agreements or tracking of bulk cable/internet agreements for the units of the property. This is a very meaningful contract for PTSH and shareholders will be advised of any additional developments as they unfold."
"Our Client is the leading provider of MDU services to the largest cable operators in the country, securing thousands of units every month for their clients. The details of this contract will be released shortly, upon satisfaction of all parties," concluded Raj Kalra.
More about PTSH at www.ptspi.com
Express-1 Expedited Solutions, Inc. (AMEX:XPO) will hold a conference call at 10:00 AM EST, on Monday, November 15, 2010.
The call will allow interested parties to hear management discuss the Company’s third quarter results.
Transcat, Inc. (Nasdaq:TRNS), a leading distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, repair and weighing system services, reported recently that it has acquired from ACA TMetrix Inc., its calibration and repair service business located in Mississauga, Ontario, a suburb of Toronto.
The acquired calibration and repair service business, which is ISO 9001-2008 registered, is a fully equipped, calibration laboratory that provides repair and service for instruments from over 60 manufacturers.
Ballantyne Strong, Inc. (Amex:BTN), a provider of digital cinema projection equipment and services, cinema screens and other cinema products, recently reported the appointment of Gary L. Cavey, 61, effective immediately, as its President and CEO.
Mr. Cavey has also joined BTN's Board of Directors concurrent with his appointment as President and CEO. Mr. Cavey’s appointment is the culmination of an extensive, yearlong search to find a successor to John Wilmers, 66, who has retired as President, CEO and member of the Board of Directors.
In September 2009 BTN and Mr. Wilmers initiated a CEO transition process, providing approximately two years to identify and confirm a new CEO prior to Mr. Wilmers’ planned retirement by year-end 2011. Mr. Wilmers will remain with BTN over the next 14 months to work through the CEO transition and will be primarily involved in expanding BTN’s growing Asian business efforts.
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