An Update to Horne International's Agreement to Acquire Amata, Inc. (Business Wire)

FAIRFAX, Va.--(BUSINESS WIRE)--Horne International, Inc. (OTCBB:HNIN - News ) announced today that it is continuing to pursue its acquisition of Amata, Inc. The Stock Purchase Agreement (SPA) entered into on January 23, 2008 between Horne and Amata requires Amata to fulfill certain closing conditions, including the collection of certain receivables from Pacific Texas Partners (PTP), Amata's largest customer. As of today, Amata has not fulfilled certain closing conditions, including the receipt of the PTP receivables. Under the SPA, any party not in breach of the SPA has the right, beginning June 30, 2008, to terminate the SPA. As of today, that right has not been exercised. If Amata's closing conditions cannot be met or satisfactorily resolved, Horne may elect to terminate the SPA. Horne's Board of Directors and management... [read full story]