Financial Access Solutions Technology in talks to acquire Car-Tel Distributions

Source: Financial Access Solutions Technology

Financial Access Solutions Technology (Pink Sheets:FLST), a technology provider, specializing in point-of-sale, card products and transactional software solutions for North American merchants, announced today that it had begun talks to acquire Car-Tel Distributions Inc., an important payment card distribution company.

"Car-Tel, if acquired would be a phenomenal addition to our company and one that truly complements our current DM2 division," said Tony Papa, Financial Access Solutions Technology, President and CEO. "Car-Tel's management have grown the company's sales organically from $8 million in 2002 to over $30 million in 2004 and if we consolidate those numbers with our subsidiaries, we will become one of the largest independents in our industry," further added Mr. Papa.

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