Targeted Acquisitions of Insight Management Corporation
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ORLANDO, Fla., June 1, 2009 (GLOBE NEWSWIRE) -- Insight Management Corporation
(OTCBB:ISIM) today provided additional details of the specific potential target
companies it is seeking to acquire in the near term through its pending
subsidiary, Microresearch Corporation (MCEA) of Orcutt, California.
Total revenue in 2008 for the aggregate potential target companies was $46.0
million, with net earnings of $13.6 million. Jennifer Rapacki, who will lead the
combined companies, said, "Our unique platform for discovering and integrating
ideal businesses affords us an advantage over other market participants. The
assets with which we are in contact are attractive for a number of reasons, not
least of which is the positive net income they provide. With the added
diversification of revenue streams, we foresee continued growth based on a solid
foundation."
Earlier this month, ISIM and MCEA announced a definitive merger agreement under
which MCEA will become a subsidiary of ISIM and will be listed under the symbol
ISIM.OB on Nasdaq's over-the-counter exchange and on Frankfurt's Deutsche-Borse.
Microresearch President and CEO Jennifer Rapacki will lead Insight Management
Corporation.
It was also previously announced that MCEA signed a contract on March 6th to
purchase Rebel Testing, Inc. (RTI) of Gillette, Wyoming. Rebel, which has been
in business for over eighteen years, employs twenty personnel and is a leading
Rocky Mountain regional oil and gas service provider. RTI's 2008 revenues were
$3.4 million, with 32% net profit. The company maintains a fleet of pump hoist
trucks to service natural gas well pumps and services and pressure tests blow
out preventers. Customers include, among others, two Fortune 500 oil and gas
corporations.
Insight will provide technology, products, and services in the U.S. domestic oil
and gas industry. Specifically, targeted acquisitions are involved in the
industrial rig construction, welding and fabrication, and distribution of oil
and gas products.
For more information, please contact Investor Relations at 866-787-3588
About Insight Management Corporation
Insight Management Corporation (ISIM) is a public holding company whose core
business is focused in the oil and gas industry. The company has a strategic
plan for growth through acquisition and functions from the perspective of an
engineering firm. This is the nucleolus that directs what acquisitions are made
and creates strategic alliances, develops proprietary technology and patents
that bring the expertise and ultimately creates the real value for Insight
Management. The Company expects to retain the strong management teams in each
business unit, capitalizing on their local knowledge of competitors and
operating climate, along with their loyal customer relationships.
The Insight Management Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6226
This Press Release may contain certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. ISIM has tried,
whenever possible, to identify these forward-looking statements using words such
as "anticipates", "believes", "estimates", "expects", "plans", "intends",
"potential" and similar expressions. These statements reflect the ISIM's current
beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks,
uncertainties and other factors which could cause the ISIM's actual results,
performance or achievements to differ materially from those expressed in or
implied by such statements. ISIM undertakes no obligation to update or advise in
the event of any change, addition or alteration to the information catered in
this Press Release including such forward-looking statements.
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CONTACT: Insight Management Corporation
Investor Relations:
866-460-7336
ir@insightmanagementcorp.com
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