GLA New Ventures, LLC Announces Acquisition of StellarRAD Systems, Inc.
March 28, 2002 - O'Fallon, MO - GLA New Ventures, LLC ("GLA") has executed an agreement to acquire StellarRAD Systems, LLC ("StellarRAD"). StellarRAD had been a subsidiary of Everest Global Technologies Group ("Everest"), a joint partnership between GLA New Ventures, LLC and Aquila, Inc. (f.k.a. Utilicorp United, Inc.). The acquisition was accomplished through an internal management buy-out by the senior executives and managers led by GLA's Chairman Jim Moffit (former Chairman & CEO of Everest).
GLA welcomes the acquisition as one that allows GLA and Everest to focus on their individual goals and objectives. "We are now able to focus on and reinforce the strong, long-standing relationships GLA had with both its vendors and clients to ensure our mutual success," said Moffit.
In addition to Mr. Moffit, the senior management team includes Charles Morrison, Michael Roddy, and Shayne Barr all of whom have diverse and extensive backgrounds in telecommunications and entrepreneurial ventures.
As part of the deal, GLA will continue to provide consulting, engineering, construction management, and software solutions to the customers of GLA Network Technologies, Inc. (StellarRAD's former parent company). GLA's customer base includes cable TV companies, local exchange and long distance telephone companies, power companies, venture capital firms, and start-up competitive telecommunications companies located in the U.S. and abroad.
StellarRAD Systems is a professional services company providing applications software and web-based technology solutions tailored to the special needs of the telecommunications industry including customer care and billing, network equipment, central office inventory, plant and facilities mapping, trouble management and financial reporting support. StellarRAD is headquartered in O'Fallon, Missouri with offices in Portland, Maine and Collinsville, Illinois.
For more information contact Shayne Barr at StellarRAD Systems LLC.
GLA New Ventures, LLC/StellarRAD Systems
5555 Winghaven Boulevard
O'Fallon, Missouri 63366
Phone: 800-896-3355 -or- 636-625-5700
Internet: www.glai.com and www.StellarRAD.com