EMRISE Corporation Retains Investment Banking Team to be Strategic and Financial Advisors
October 11, 2013 --
DURHAM, N.C., Oct. 11, 2013 (GLOBE NEWSWIRE) -- EMRISE CORPORATION (OTCQB:EMRI), a multi-national manufacturer of defense and aerospace electronic devices and communications equipment, today announced it has retained two New York City-based investment banks, The Benchmark Company, LLC, and Hermes Capital Advisors, LLC, to be the Company's exclusive strategic and financial advisors.
EMRISE Chairman and Chief Executive Officer Carmine T. Oliva said retaining an experienced team of investment banks is a key step in the process initiated by the Company earlier this year to determine a range of strategic opportunities to maximize stockholder value. EMRISE interviewed a number of investment banks during the selection process, some of which evaluated the Company's plans and prospects and submitted preliminary recommendations to the Board and executive management team.
"Based on our review of the investment banks' qualifications, we selected the two firms we believe are the best qualified to help us meet our goals," Oliva added. "Benchmark and Hermes have complementary strengths and both are very knowledgeable about EMRISE and the industry segments in which we operate."
Oliva noted that the investment bankers who will be working with EMRISE have worked with the Company in the past. One of the investment bankers at Hermes, for example, successfully executed the transactions for the acquisition of Advanced Control Components, Inc. in August 2008, and the sale of EMRISE's Digitran Switch Division in March 2009.
About The Benchmark Company, LLC
The Benchmark Company is a full-service investment banking and financial advisory firm with a sales & trading platform servicing institutional clients in all major markets in the US and internationally; a team of research analysts covering companies in the Technology, Defense & Homeland Security, Media, Publishing, Broadcasting, Business Services, Consumer/Retail, and Healthcare sectors; and an investment banking team providing corporate finance and advisory services to small- and mid-sized companies. Benchmark is headquartered in New York with offices in 10 other financial centers in the US.
For more information about The Benchmark Company, LLC, visit the Company's website at http://www.benchmarkcompany.com
About Hermes Capital Advisors, LLC
Hermes Capital Advisors, the investment banking division of Arcadia Securities, LLC, is focused on assisting early stage through middle market companies in the technology sector capitalize on their highest value growth and financial opportunities. The firm offers a variety of capital raising and strategic and financial advisory services in connection with mergers & acquisitions, private placements, valuations and fairness opinions.
For more information about Hermes Capital Advisors, visit the Company's website at http://www.hermes-advisors.com/
About EMRISE Corporation
EMRISE designs, manufactures and markets electronic devices, sub-systems and equipment for aerospace, defense, industrial and communications markets. EMRISE electronic devices products perform key functions such as power supply and power conversion, and radio frequency (RF) and microwave signal processing. Its electronic devices and communications equipment products are used in a range of applications including on-board In-Flight Entertainment and Connectivity systems, and network access to public and private communications networks. EMRISE serves its base of customers in Europe, North America and Asia through operations in England, France and the United States. For more information, go to www.emrise.com.
EMRISE common stock trades under the symbol EMRI on OTCQB. Real-Time quotes and Level 2 information for EMRISE stock can be found at www.otcmarkets.com, or on the Company's website at http://www.emrise.com/investor_relations/stock_quote/index.htm.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
With the exception of historical information, certain matters discussed in this press release are forward looking statements within the meaning of the Private Securities Litigation Reform Act including but not limited to EMRISE's belief that it has selected the two firms best qualified to help it meet its goals; and both of these firms have complementary strengths and are very knowledgeable about EMRISE and the industry segments in which the Company operates. Such statements involve a number of risks and uncertainties, and the actual future results of EMRISE could differ from those statements. The Company refers you to those factors contained in the "Risk Factors" Section of EMRISE's Annual Report on Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form 10-Q, Current Reports on Form 8-K filed recently, and other EMRISE SEC filings.
CONTACT: Allen & Caron, Inc
Rene Caron (investors)
Len Hall (media)