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Infocrossing Completes Stock Sale

Carrier Hotels Staff Posted Apr 1, 2004

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LEONIA, N.J. - Infocrossing, Inc., a provider of strategic information technology and business process outsourcing solutions to large and mid-sized companies, announced today that it completed a previously announced $30.6 million private placement of 2,917,000 shares of its common stock. The Company intends to use the net proceeds of the private placement to finance a portion of the cash component of the purchase price for the publicly announced pending acquisition of ITO Acquisition Corporation, a California corporation doing business as Systems Management Specialists, or "SMS". Read the full release ...