Sterling
Technologies, Inc. and Sterling Financial Systems Inc.
announce completion of Merger
January 5, 2009
Chicago, Illinois (January 5, 2009)
- Sterling Financial Systems Inc. and Sterling Technologies,
Inc. are pleased to announce that the companies have
merged their operations effective December 31, 2008
and will operate under the name Sterling Trader, Inc.
Under the terms of the merger, Sterling Trader, Inc.
acquired the assets and liabilities of Sterling Technologies,
Inc. and Sterling Financial Systems Inc. All of our
services to our clients will continue without interruption.
The decision to merge the two companies
was driven by the desire of management to enhance and
streamline our product development and computer operations.
Originally, Sterling Technologies was set-up as a software
development arm of Sterling whereas Sterling Financial
Systems was responsible for the computer network and
service bureau operations. In time, the need for separation
of these functions became unnecessary. Certain duplicate
administrative and operational functions were eliminated.
The structure and composition of the
management team of Sterling was not affected by the
merger. Mr. Steve Sierszulski remains the President
and Chief Executive Officer of Sterling Trader, Inc.,
Mr. Richard Chu is the Chairman and Chief Financial
Officer, and Mr. Vincent Tseng is the Chief Information
and Technology Officer. Mr. Mark Stephens has been nominated
to Vice President of Computer Operations.
For further information, please contact
Mr. Richard Chu at (312) 346-9600 ext 224.
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