CSI COMPLETES HEARTLAND ACQUISITION
PADUCAH, Ky. – (June 17, 2008) – Computer Services, Inc. (CSI) (OTCQX: CSVI) today reported that it had completed the acquisition of the remaining minority interests in Heartland Communications Internet Services, Inc. (Heartland).
“The acquisition of Heartland provides CSI with an expanded infrastructure to support telecommunications services for CSI and our bank customers,” stated Steven A. Powless, CSI’s President and Chief Executive Officer. “Since our initial investment in Heartland in 2005, we have expanded the delivery of communications services and improved our cost structure for telephone and internet circuits.
“We plan to exit Heartland’s retail business to concentrate on CSI's bank customers and other institutional users going forward. We are pleased with the collaboration between Heartland’s technical team and our Data Services group at CSI and look forward to their continued development of state-of-the-art communications infrastructure to serve CSI, our bank customers and others. We expect this acquisition will leverage Heartland’s capabilities across our broader customer base to create additional revenue opportunities for CSI,” concluded Mr. Powless.
Heartland was incorporated in 1997 and has been a provider of a broad array of internet, voice, data and video services. CSI made its initial investment in Heartland during March 2005 by purchasing 49% of its stock. CSI purchased additional shares in July 2006 that raised its stake to a majority position. As a result of CSI purchasing the remaining minority interests, Heartland will operate as a wholly-owned subsidiary of CSI. Steven A. Powless, CSI’s President and Chief Executive Officer, will also serve as President and CEO of Heartland.
About Heartland Communications
Heartland Communications Internet Services, Inc. is a full service communications provider that specializes in assisting financial institutions with cost effective telecommunications and Internet data transfer across a secure network. Telephone services include traditional local and long distance, VoIP and hosted PBX systems. Heartland’s affiliate program uses fiber optics, Data T1s, PRIs, T3s and collocations to offer carrier grade, turn-key solutions to meet the regulatory needs of ISPs, CLECs and other organizations and enable providers to capitalize on residential and commercial wholesale services. For more information about Heartland, visit www.hcis.net.