Smart Move, Inc. Announces Acquisition of Business Assets of Star Relocation Network Alliance, Inc.
02 2월 2008 - 2:30AM
PR Newswire (US)
Smart Move Believes the Acquisition will Dramatically Enhance
Participation in Relocation Industry Programs and Leverage
Synergies with Van Line Carriers DENVER, Feb. 1
/PRNewswire-FirstCall/ -- Smart Move, Inc., (AMEX:MVE) announced
today that it has acquired the business assets of Star Relocation
Network Alliance Inc. ("Star Alliance"), a privately owned
operating division of Arpin Group Inc. The assets of Star Alliance
acquired by Smart Move include trademarks, trade names and
operating assets relating to Star Alliance's co-branded and private
label move management programs offered to the real estate brokerage
community, third party relocation companies and HR departments of
major corporations. Smart Move's business activities associated
with the acquired Star Alliance assets will be supported by a
national call center offering personalized move counseling and
customized relocation services. The purchase price was the issuance
of 80,000 shares of Smart Move, Inc. common stock, and the issuance
of 100,000 common stock purchase warrants with an exercise price of
$1.20. In addition, the sellers could receive an additional 45,000
shares based upon an earn-out provision tied to the achievement of
top line revenue performance targets associated with operations
using the Star Alliance assets. Commenting on the acquisition of
the Star Alliance assets, Chris Sapyta, Smart Move's Chief
Executive Officer, said, "We are very pleased that we have
successfully completed the acquisition of the Star Alliance. This
platform will assist Smart Move in generating additional sales
opportunities in the relocation industry." Smart Move expects Star
to produce additional revenues generated primarily by moving
referral fees. Star Alliance network will also produce
opportunities for Smart Move business and increase the utilization
of the SmartVault inventory with projected expansion of sales
volume. Tom Magee, a 22 year veteran of the household goods
industry, will also be joining the Smart Move team as part of the
acquisition, and has been named Executive VP of Sales for Smart
Move. Magee states "Smart Move is an innovative concept that has
been long overdue in the moving industry, many of the Star Alliance
member van lines and independent agents will be able to offer the
Smart Move solution to their customers and we believe this will
help all of our partners have a competitive edge and grow their
organizations as well." About Star Alliance: The Star Alliance
customer resource center provides customers with centralized
coordination of both domestic and international alliance partners.
Star Alliance's partners include a wide range of major service
providers operating nationally and internationally: NATIONAL --
Major van line affiliations -- Over 200 strategic agency
partnerships -- Network of national third party services --
Professional automobile transport service -- Exclusive fine arts
service relationships INTERNATIONAL -- Worldwide agency
partnerships -- Cross-border moving specializes -- Customs
clearance / document preparation Cost control and service
priorities are achieved for Star Alliance's customers through both
operational and performance standards established for Star Move
Alliance(SM) partners. Star Alliance customers are also provided
with performance evaluations and every move is monitored to ensure
complete customer satisfaction. http://www.starmove.com/ About
Smart Move: Smart Move is an innovative logistics company providing
services through deployment of a fleet of Company-owned, GPS
equipped SmartVault(TM) shipping containers to execute the movement
of goods. Smart Move utilizes its proprietary and licensed
technologies to efficiently manage its fleet of assets, providing
superior security, scheduling flexibility and expedited service on
behalf of its customers and alliance partners. Smart Move sells its
services direct to moving consumers as well as providing moving
capacity and guaranteed logistic services to van lines and agents
nation wide. http://www.gosmartmove.com/ About Arpin Group, Inc.
Arpin Group, Inc. is the holding company for Arpin Van Lines, Arpin
International Group, Arpin Moving Systems (Canada), Star Moving
Network, and Intermodal Credit Corp. Headquartered in East
Greenwich, R.I., Arpin Group is an industry leader in household
goods moving, corporate, government and military relocation, and
specialized transportation services. With over 100 years of
experience and a reputation for excellent service, Arpin Group is
the only family owned and operated company that has remained
dominant and successful for more than a century. Arpin is the
official mover of the LPGA, a member of the Customs Trade
Partnership Against Terrorism, the American Moving and Storage
Association and is fully accredited by the International Federation
of International Furniture Removers (FIDI). For more information,
please visit http://www.arpin.com/ and http://www.arpinintl.com/.
DISCLOSURE NOTICE: The statements in this news release that are not
historical statements, including statements regarding possible
transactions, expected benefits of products and services, adoption
by customers, continued innovation and other statements identified
by forward looking terms such as "may," "will," "expect," "plan,"
"anticipate" or "project," are forward-looking statements. These
statements are subject to numerous risks and uncertainties which
could cause actual results to differ materially from such
statements, including, among others, that there is no assurance
that the transactions will be consummated, developments in the
moving industry, competition and risks of failure to obtain
consumer acceptance of innovations. Smart Move has included a
discussion of these and other pertinent risk factors in its
Quarterly Reports on Form 10-QSB most recently filed with the SEC
and disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Contact information: Star Alliance, Tom
Magee, 401-241-2354, Smart Move, Inc. Pete Bloomquist,
303-339-9558, DATASOURCE: Smart Move, Inc. CONTACT: Tom Magee of
Star Alliance, +1-401-241-2354, ; or Pete Bloomquist of Smart Move,
Inc., +1-303-339-9558, Web site: http://www.gosmartmove.com/
http://www.starmove.com/ http://www.arpin.com/
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