FASTechnology Group Completes Acquisition of Enternet LLC

Dave Carlos
FASTechnology Group LLC
330.668.8535

Bob Schmitt
Q Group
631.234.7670 X:205

For Immediate Release
(Glen Carbon, IL and Lisle, IL)

FASTechnology Group Completes Acquisition of Enternet LLC

FASTechnology Group, a long-standing industry leader in inkjet and custom machine control systems for the printing industry, has completed its previously-announced acquisition of Enternet LLC. Enternet is a well-known and respected supplier of powerful and flexible control systems within the commercial printing and newspaper industries.

For many years, the Enternet suite of inkjet control products has been marketed within the commercial and industrial print marketplace via large OEM channels. Legacy products were branded as the VIP™ family of controls. Resulting from the acquisition, Enternet will be aligned with FASTech’s industry-leading team of engineers and product developers, and, Enternet’s combined suite of product offerings will be available through the FASTech direct-to-customer channel. Mark Breunig, Vice President and General Manager of the Enternet Division added, “The FASTech long-standing business model and direct-to-customer philosophy at FASTech has been a great success but even more important, is that it has been a key benefit to our customers. Our ability to anticipate and respond to our customers’ ongoing needs in a highly volatile marketplace is enhanced by the direct relationships our engineering and service personnel have with our customers.”

Over the past several years Enternet and its lineup of inserter and collator control systems have become the accepted gold-standard within the newspaper packaging control systems marketplace. On a daily basis these mission critical systems help major metropolitan newspapers in managing their inserting process and providing their customers with creative advertising solutions.

Joe Hattrup, President of FASTechnology Group explained, “For many years competing in the same market, we have come to respect Enternet as an innovative supplier. We are confident that the combined resources of both FASTech and Enternet will become a driver of value and innovation for our customers via a synergistic range of product offerings, experience, and entrepreneurial talent unmatched in the industry. We are also eager to build upon Enternet’s strong position in the newspaper inserter and collator controls marketplace.”

Enternet will maintain its primary resources and function as a complete business unit in its current location in Lisle, IL.

For further information please contact:
Joseph A. Hattrup
President

Dave Carlos
Vice President Sales And Marketing

FASTechnology Group LLC
47019 Kettle River Drive
Glen Carbon, IL 62034
(618) 692-9797
(866) FASTech
www.FASTechgroup.com

More about FASTechnology Group
FASTechnology Group is a systems and controls engineering and manufacturing firm. Specific products and services include drive controls, industrial panel design, manufacturing, and targeted products for the bindery and mailing industry. The FASTechnology line of Bindery Controllers and custom projects support applications ranging from the basic to the most complex. Other software products include Bindery Management System tools to assist companies with complex mailing and production tasks.
www.FASTechgroup.com

FASTech Control Solutions for the Bindery and Newspaper Packaging Markets

FASTech and Enternet ink deal to combine, solidify their control solutions for the bindery and newspaper packaging markets

November 1,2007

(Glen Carbon, IL and Lisle, IL) FASTechnology Group, LLC and Enternet LLC announced today that they have agreed to merge in order to better serve the Commercial Printing market that they each serve, and to continue strategic investment and product development into the increasingly complex newspaper packaging market. The companies have signed a letter of intent to merge, subject to diligence and customary formalities, all of which are expected to be completed by January, 2008.

Joe Hattrup, FASTechnology Group founder and CEO, said “We have always respected Enternet’s bindery control solutions and the ingenuity of the Enternet development engineers in the Commercial Printing market. Over the last several years Enternet’s expansion into the newspaper packaging controls market and subsequent market share gains have been very impressive. This shall become strategic to our continued overall success. We look forward to aligning our considerable strengths and engineering talents with theirs, and the combined company veteran infrastructure and depth shall support both companies’ control platforms for the foreseeable future. In the long run we’ll be even more effective when both companies’ intellectual talents and skills work together to develop innovative next-generation products.”

John Sprieser, Enternet’s CEO, said he was “pleased that FASTech and Enternet can grow together, as FASTech’s technology base and distribution capabilities will serve our clients well. In the Commercial Printing market we have relied primarily on indirect distribution and this merger gives us strategic channel-to-market distribution alternatives via tapping directly into FASTech’s sales force. We’re excited.”

Joe Hattrup will be the CEO of the combined company, whose name will remain FASTechnology Group, LLC. John Sprieser will retire shortly after closing and Bob Davidson, Enternet’s President and COO, will direct the Newspaper Business division for a transition period. Each company’s offices, in Glen Carbon and Lisle, IL, and Dallas, TX respectively, will continue to operate. It is expected there will be negligible turnover or discontinuity, as it is the companies’ intention to fully support all clients and prospects.

FASTech customers/prospects should direct any questions to Joe Hattrup (+1 866 327-8324) while Enternet’s contact is John Sprieser (+1 630 300 1711).