Chell Group has signed a letter of intent to acquire all the outstanding shares of EMTEC Inc., an information technology company specializing in information security, data storage and data protection. EMTEC has annual revenues of about $75 million. "EMTEC, a leader in its market, will add significant recurring revenues," says Chell Group Financial Officer Don Pagnutti. Chell Group is an investment banking firm out to build a portfolio of information technology-related companies through acquisition.
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