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Q Comm Completes Acquisition of Point De Vente Inc., a Canadian Prepaid Wireless Distributor Q Comm International, Inc. (Amex: QMM; QMM.WS), a provider of prepaid transaction processing and electronic point-of-sale (POS) distribution solutions today announced the acquisition of Point De Vente Inc, a distributor of prepaid wireless products based in Montreal, Quebec, Canada. Point de Vente has distribution agreements with all four of the major wireless providers in Canada: AT&T, Microcell, Telus and Bell Mobility. Jean-Pierre Poulin, the current President, founded the company in 2001 primarily to distribute prepaid wireless through hard cards placed in retail locations. Point de Vente has approximately 160 Qxpress terminals in operation presently providing mostly prepaid wireless and long distance. Under the terms of the acquisition agreement, Point de Vente shareholders will receive 12,127 shares of restricted Q Comm common stock with an aggregate value of $50,000. Pointe de Vente will become a Q Comm subsidiary with their assets and liabilities assumed by Q Comm. Q Comm will also provide a cash infusion of approximately $400,000 to Point de Vente. Orem, UT (PRWEB) July 15, 2004 -- Q Comm International, Inc. (Amex: QMM; QMM.WS), a provider of prepaid transaction processing and electronic point-of-sale (POS) distribution solutions today announced the acquisition of Point De Vente Inc, a distributor of prepaid wireless products based in Montreal, Quebec, Canada. Point de Vente has distribution agreements with all four of the major wireless providers in Canada: AT&T, Microcell, Telus and Bell Mobility. Jean-Pierre Poulin, the current President, founded the company in 2001 primarily to distribute prepaid wireless through hard cards placed in retail locations. Point de Vente has approximately 160 Qxpress terminals in operation presently providing mostly prepaid wireless and long distance. Under the terms of the acquisition agreement, Point de Vente shareholders will receive 12,127 shares of restricted Q Comm common stock with an aggregate value of $50,000. Pointe de Vente will become a Q Comm subsidiary with their assets and liabilities assumed by Q Comm. Q Comm will also provide a cash infusion of approximately $400,000 to Point de Vente.
Jean-Pierre Poulin, President of Point de Vente Inc, commented, I believe becoming part of Q Comm will provide the resources necessary to take advantage the opportunities throughout Canada as we migrate retailers from cards to Q Comm terminals. We have been using the Q Comm terminals with excellent results and feedback from retail locations. Now as part of Q Comm well have the ability to install terminals with more retailers throughout Canada."
Terry Kramer, CEO and President of Q comm. added, We are very pleased to have Jean-Pierres organization become part of Q Comm. Point de Ventes distribution agreements with the largest wireless providers in Canada are coveted because the wireless carriers are selective in granting distribution rights. Using the strength of Q Comms technology, organization and financial resources Point de Vente can offer its network, encompassing hundreds of retailers, our Qxpress solution. Jean Pierre will spearhead our Canadian expansion and will report directly to our Vice President of Sales, Darin Hunsaker"
ABOUT Q COMM INTERNATIONAL: Established in 1992, Q Comm International provides proprietary prepaid transaction processing and information management systems that facilitate electronic recharge or distribution of prepaid products from service providers or their distributors to retail points of sale. Q Comms solutions replace traditional hard cards (also known as scratch cards or vouchers) that are costly to distribute, and provide more comprehensive reporting and inventory management among other benefits. In concert with its proprietary data center platform, Q Comms point-of-sale terminal, Qxpress 200, is currently used by wireless carriers or mobile operators, telecom distributors, and various retailers to sell a wide range of prepaid products and services including prepaid wireless or prepaid mobile, prepaid phone cards, prepaid dial tone and prepaid bank cards, such as prepaid MasterCard. Visit www.qcomm.com for more information.
Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: In addition to the historical information contained herein, statements in this press release may contain forward-looking statements within the meaning of the Federal securities laws and are subject to the safe harbors created thereby. These statements involve risks and uncertainties inherent in acquisitions of technologies and businesses of Q Comm and Point de Vente; other integration issues including costs and unanticipated expenditures, changing relationships with customers, suppliers, and strategic partners, potential contractual intellectual property or employment issues, accounting treatment and charges, and the risks that the acquisition cannot be completed successfully or that anticipated benefits are not realized; pricing pressures and other competitive factors and may differ materially from actual future events or results. The following are among the factors that could cause actual results to differ materially from the forward-looking statements: factors that could cause actual outcome to differ materially from those set forth include, without limitation, the rate of adoption of new technology, the rate of growth of information management systems for prepaid products, changes in product mix or distribution channels; the demand for prepaid products; technological difficulties and resource constraints encountered in developing and/or introducing new products, and market acceptance of new products. Forward-looking statements contained in this press release regarding expected financial results, industry trends, sales and future product development and business strategies and activities should be considered in light of these factors, and those factors discussed from time to time in the company's public reports filed with the Securities and Exchange Commission, such as those discussed in the company's Annual Report on Form 10K for fiscal year ended December 31, 2003, and in quarterly reports on Form 10Q. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
Contacts: Scott Liolios Liolios Group, Inc. +1 (949) 574-3860
Terry Kramer Q Comm International, Inc. +1 (801) 805-6011
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