Dynasty Components Inc. announced that DCI has entered into a Letter of Intent to acquire 100% of the outstanding shares of ProNet International LLC. The purchase price will be payable in cash and shares. The transaction is subject conditions including DCI Board of Directors and regulatory approvals.
ProNet, presently with operations in both the Boston and New York areas, provides e-commerce merchant accounts for the international marketplace. The services offered by ProNet provide customers with secure international shopping cart and e-payment solutions.
“We are continuing our growth strategy to strengthen DCI’s market position in the burgeoning e-commerce marketplace”, said Mr. Economo. “The acquisition of ProNet complements our e-business enabling service through DCIenable.com. We intend to be a leader in providing e-business solutions to companies in Canada and the United States.”
“We are very excited with the opportunity to join DCI,” comments ProNet President Mark Lachance, “The reputation and client base of DCI combined with our e-business expertise and technology will make DCIenable.com one of the major players in e-business services in North America.”
According to Forrester Research, annual B2B (business to business) e-commerce is projected to grow from $43 billion in 1998 to $1 trillion by 2003, while the B2C (business to consumer) market will swell from $7.8 billion to $108 billion in the same period.
“We are truly making international transactions seamless”, said Mr. Economo. “The merchant account and payment gateway will co-exist and as a result there will be no international compatibility issues, no charges from multiple banks, and no problems interacting with most major credit card networks”.
About ProNet International:
ProNet International is a digital commerce ASP (applications service provider) that provides secure hosting, sell-side shopping solutions including auction and reverse auction software, international e-payment solutions, shopping carts, e-business development/marketing tools and consultations, web buyer/merchant trust and dispute resolution. ProNet provides hosting solutions and consulting services to a wide range of merchants from SME (small-medium-enterprise) segments, B2B, B2C, Portals, ISP’s, CSP’s (content service providers) and vertically integrated portals (vortals).
About Dynasty Components Inc.:
Dynasty Components Inc. is an e-business infrastructure company and a leading supplier of high-technology products and services. DCI offers its e-business services through DCIenable.com and its marketing and distribution of high-technology products and services to design engineers and OEMs (Original Equipment Manufacturers) through four main business units. Founded in 1985 and based in Kanata, Ontario, DCI is listed on the Toronto Stock Exchange (TSE:DCI).Details