eNucleus Acquires MIT Consultants

• By theWHIR.com , May 23, 2003

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May 23, 2003 -- (WEB HOST INDUSTRY REVIEW) -- Managed hosting company eNucleus, Inc. (enucleus.com) announced this week an agreement to acquire certain assets and operations of Millennium Information and Technology Consultants, Ltd. ("MIT Consultants") ? its second acquisition. MIT Consultants is a professional services organization, with expertise in the design and implementation of ERP, CRM, sales automation, business intelligence and Internet infrastructures.

Under the terms of the agreement, eNucleus will acquire client contracts, solutions rights and certain assets in exchange for consideration of 300,000 shares and up to 3.7 million shares of eNucleus common stock payable under a 12-month earn-out plan.

"We are delighted to have reached agreement with MIT Consultants. They have a great team of motivated business personnel who are leaders and innovators in providing software integration with Internet infrastructures," said Scott Voss, President of eNucleus.

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