FOOTHILL RANCH, California, December 30, 2007 (Business Wire) – Emida Technologies, a leader in the global prepayment and value transfer market, has announced it now supports prepaid mobile direct top up for Belize Telemedia.
Belize is bordered by Mexico and Guatemala with a population of over 280,000. Belize Telemedia is the leading telecommunications company in Belize and offers landline, mobile, data, internet and value added features supporting 33,500 fixed telephone lines, 130,000 cellular customers and 8,000 Internet customers, countrywide. Emida installed system equipment at Belize Telemedia facilities in Belmophan, the country’s capital, in the first quarter of 2007 and completed the first live Fone Top Up (the brand and name Belize Telemedia has given to prepaid direct top up and e-PIN services) in April 2007. Fone Top Up initially allows customers to add any amount between 2 and 500 Belize dollars to their prepaid mobile accounts. At the end of November 2007, over 53,000 of Belize Telemedia’s prepaid mobile customers were using Fone Top Up on average seven times a month from over 180 locations in and near Belize City.
“Fone Top Up is already exceeding our expectations. Our customers love it too and we fully expect they will make it the prime method of recharging Belize Telemedia prepaid accounts. We are already extending the number of locations and cities and towns where our custom
ers can buy Fone Top Up” said Lisbeth Butler, Partner Support Manager at Belize Telemedia. “Emida technology is proving highly reliable. We particularly valued the ‘hands-on’ support they offered before and during the launch and we are very excited about the ways we can promote Fone Top Up and extend its range of products”.
Steve Gooderham, GM, Emida International adds “Emida is delighted with our partnership with Belize Telemedia. We see many, many ways of growing together and enjoy all of our interactions with the Belize Telemedia team.”
Emida is a leader in the global prepayment and value transfer market, operating in 27 countries, including North America, Mexico, Peru, Ecuador, Guyana, Belize and much of the Caribbean.
Emida’s technology allows for the domestic and international distribution and value transfer of many types of prepaid products including prepaid wireless, long distance, lottery and stored value. The company’s strategy is to build profitable, robust distribution networks for many prepaid products in identified operating geographies and introduce unique cross-border value products between regions. Emida’s POSA products provide robust revenue solutions for distributors and carriers alike.
Emida Appoints Ron Kraft as Vice President & General Manager of USA and Fred Schade as Chief Information Officer
FOOTHILL RANCH, California, September 30, 2007 (Business Wire) – Emida Technologies, a leader in the global prepayment and value transfer market, has announced two key appointments to its senior management team.
Ron Kraft becomes Vice President and General Manager of Emida USA and will be responsible for expanding operations in USA. Ron brings 20 years of Sales and Account Management experience in technology and consumer goods industries to his new role. Previously, he served as Senior Account Manager and Vice President of U.S. Sales at Emida. Prior to joining the company in 2005, Ron served as Director of Account Management at GoRemote where he managed relationships with Fortune 1000 companies primarily focusing on IT deployments to pharmaceutical organizations such as Johnson and Johnson, Novartis and Bristol-Myers Squib. He graduated from the University of Redlands with a BA in Communications.
“Ron’s promotion is well-deserved. His knowledge of the US market is unmatched and he has material experience working with key partners to grow business to mutual benefit.” said Dennis Andrews, Emida’s CEO. “Ron was a key player in our recent merger with QComm International, Inc. and is undoubtedly the right person to leverage the opportunities it presents.”
Emida has also appointed Fred Schade as its Chief Information Officer. Fred brings more than 20 years of experience in IT and software development to Emida. Schade served as CTO for QComm International, Inc. and prior to that served as the CTO and Vice President of R&D for MediConnect.net Inc. He developed the de facto standard (EDI) for medical record retrieval now used in the multi-billion dollar medical record retrieval industry. Prior to MediConnect.net, he was the director of software development for NetSchools Corp. From 1993 to 1997 he was director of software development for the Waterford Institute, where he was responsible for development of the Waterford Early Reading Program. From 1989 to 1993 he served as Software Engineer and Product Manager for IBM. He is the inventor/co-inventor of six technology and business process patents, four of which have been issued and two of which are pending.
Dennis Andrews said “Fred’s background impresses me greatly and he is very much up for the challenge of making the most of our Emida technologies. He not only knows the QComm technology like the back of his hand but is already intimate with Emida technologies and his fluency in Spanish is essential for enabling communications across our teams in US and Colombia.”
Dennis added “I am delighted to have Ron and Fred join our senior management team and look forward to working with them to drive Emida forward.”
Emida is a leader in the global prepayment and value transfer market, operating in 27 countries in North, Central, and South America and the Caribbean. Emida POSA (point-of-sale activation) and value-transfer technologies allow domestic and international carriers and distributors to offer many types of prepaid products, including prepaid wireless, long distance, lottery and stored value. The company’s strategy is to build profitable, robust distribution networks for many prepaid products in multiple operating geographies and to introduce unique cross-border value transfer products between these geographies. For more information, please visit the company web site at www.emida.net or email email@example.com.
Salt Lake City and Foothill Ranch, Calif., July 3, 2007 ? Emida Technologies, Inc. and Q Comm International, Inc. today announced they have completed their merger creating one of the largest providers in the prepaid industry. The merger agreement between Emida and Q Comm was announced on May 30, 2007.
The combination creates the leading international prepaid and payment network with an extensive presence in key regions of the Americas and the Caribbean. The merger results in a retail network of more than 21,000 prepaid points of sale in retail locations in 21 countries worldwide. They have a combined annual dollar payment volume in excess of $456 million, processing more than 34 million prepaid transactions annually. The new company will provide an extensive product portfolio for prepaid wireless, calling cards and financial services for all customers.
Emida is a leader in the global prepayment and value transfer market, operating in 21 countries in North, Central, and South America, the Caribbean and the Middle East. Emida?s processing platform and value-transfer technologies allow domestic and international carriers and distributors to offer many types of prepaid products, including prepaid wireless, long distance, lottery and stored value. The company?s strategy is to build profitable, robust distribution networks for many prepaid products in multiple operating geographies and to introduce unique cross-border value transfer products between these geographies. For more information, please visit the company web site at www.emida.net or email firstname.lastname@example.org.
Key messages for Emida/Q Comm Merger Announcement:
§ Merger of Emida and Q Comm creates a large, financially stable company with scale and critical mass in the U.S. prepaid market.
§ The merger positions the company as the premiere payment network in the Americas (North, Central, South America and the Caribbean).
§ Emida is a market leader in developing and implementing customer-driven prepaid wireless, real-time replenishment and top-up solutions.
§ The combined companies deliver an extensive product portfolio, and Emida is a market leader in developing cross-border payment and value transfer solutions.
§ Emida and Q Comm are committed to and focused on providing superior customer service to the retail chain, independent retailer and independent sales organization (ISO) channels.
§ Emida serves the domestic and international carrier market with flexible, scalable systems for rapidly deploying prepaid processing, sales and top-up solutions.
What is the news of the announcement?
Emida and Q Comm have agreed to merge resulting in the creation of the premiere prepaid payment network in the Americas.
Why are you merging?
Emida and Q Comm are merging for several reasons. The three primary reasons are:
1. To create the premiere prepaid network in the Americas. By bringing together Q Comm and Emida, we have taken two complementary companies to create a larger, financially stable company with the scale and critical mass needed to be successful. The combination of Emida and Q Comm results in a retail network of more than 21,000 active prepaid points of sale in retail locations in 21 countries worldwide. They have a combined annual dollar payment volume in excess of $456 million, processing more than 34 million prepaid transactions annually.
2. Increased focus on customer service for the ISO channel. Independent sales organizations and independent retailers obviously have different needs than the large retailers. The new Emida is committed to providing superior customer service to this market. For the first time, ISOs have a major player who is focused exclusively on their needs.
3. Broader Product Portfolio. The two companies provide an extensive product portfolio for prepaid wireless, calling cards and financial services. The product line includes market-leading system capabilities including real-time top up, which allows users the ability to instantly replenish accounts regardless of location. Emida has pioneered the market for cross-border payments, which allows payment across geographies in any currency.
What will the new company be called?
The companies have agreed to continue to leverage the Emida brand known for innovative solutions and customer service.
What does this mean for customers and partners?
This is very good news for them. Both Emida and Q Comm have a strong customer base and partner relationships. Collectively, the new company has the resources and critical mass to make these relationships even better and more beneficial for customer and partners.New retailers and ISOs will be signed up under the Emida brand, while those currently under the Q Comm brand will gradually have their accounts and service level agreements transitioned. It will be business as usual with no stoppage or disruption of service.
What are the financial details of the merger?
This is a non-cash stock-swap merger. Specific details are not disclosed.
Will there be any layoffs or restructuring?
Finance operations will be consolidated in the Emida headquarters in Foothill Ranch, Calif. Beyond that, the combination is enabling a strengthening of resources and management talent in marketing, North America sales and support, and technology.
Who are the main competitors?
PaySpot, part of Euronet Worldwide, is the major U.S. competitor to Q Comm/Emida. In the independent retailer market segment, Emida firmly establishes itself in the top two along with PaySpot. The independent and large retailers have different needs, and we see an opportunity to really focus our efforts on the independent retailers and channel.
What will become of offices and executives?
Dennis Andrews will continue to lead Emida as CEO, and Mike Keough, former CEO of Q Comm, will take responsibility of the company’s North America operations as president. All other officers, with the exception of Q Comm’s CFO will be retained in the new organization. The joint organization will continue corporate operations in Foothill Ranch, Calif. and Salt Lake City.
When will the merger be completed?
The companies have signed a definitive agreement and expect to close the merger on or after July 10, 2007.
Will there be additional acquisition or merger activity?
This merger gives us the critical mass we need to be successful, and we are not actively pursuing other acquisitions or mergers at this time. But we would never rule out another opportunity that makes sense, and we will evaluate all options as they are presented.
Q Comm and Emida both have prepaid platforms. What will be the direction?
The joint teams have set a course whereby the existing Emida system (Debisys Platform) will remain and the Q Comm environment will be supported as a network extension from the Debisys environment. This will enable the quickest and most seamless transition for our partners.
What differentiates the new Emida offering?
With our commitment to a broad product suite and best-in-class customer support, Emida will also leverage its International reach across the Americas to provide leadership in cross-border products for the U.S.-based consumer. Emida is the pioneer in cross-border top-up from the United State for mobile phones in Mexico, and similar products will be announced later this year that leverage Emida’s in-country operations and partnerships across the Americas.
What should your typical U.S. partner, the ISO, expect?
ISOs will see continued focus on their requirements and their business approach. We do not, and will not create a go-to-market approach that competes directly with our ISO partners.
What does this merger mean to the long term direction of Emida?
Emida’s strategy remains intact as we build out a large transaction capability across the Americas and leverage that reach to provide innovative solutions and unique cross-border products. Certainly, in this strategy, the U.S. segment is a major anchor since much of the cross-border payers are in the United States. We expect to continue to grow faster than the industry in all three geographies.
|Headquarters:||Foothill Ranch, CA|
|Trading Status:||Privately Held|
|Markets Served:||Global Prepayment and Value Transfer|
|Global Presence:||21 Countries|
Emida is a leader in global electronic prepaid solutions with operations in 21 countries, focused in North, Central and South America and the Caribbean. The company was recently created from the merger of Emida and Q Comm to form one of the largest providers in the prepaid industry.
The combination of Emida and Q Comm results in a retail network of more than 21,000 active prepaid points of sale in retail locations in 21 countries worldwide. They have a combined annual dollar payment volume in excess of $456 million, processing more than 34 million prepaid transactions annually.
The company is focused on serving the needs of independent sales organizations (ISOs), retail chains and independent retailers by delivering quality customer service, in addition to revenue and growth opportunities. Emida partners directly with leading carriers to enable their services for ISO partners. Carriers benefit by gaining significant efficiencies as they migrate from pin-based distribution of airtime (cards and e-pins) to pin-less distribution of airtime and services.
The global market for prepaid goods and services has expanded dramatically over the past several years with U.S. customers spending more than an estimated $300 billion in 2007. Visa International estimates the worldwide prepaid market will reach in excess of $2 trillion dollars by 2010. The demand for prepaid wireless services is driving much of that growth.
Today, the majority of mobile users around the world prepay for their wireless telephone services. While there are a few countries where postpaid wireless plans remain the predominant payment model, market conditions in these countries are changing and the prepaid model is experiencing unprecedented growth. More than 72 percent of all mobile phones in the world are prepaid with practically every country being more than 50 percent prepaid except the United States and Japan. With access to prepaid wireless becoming ubiquitous and enhanced features constantly being added to prepaid mobile handsets, prepaid mobile is becoming increasingly central to the lives of people around the globe.
While the demand for prepaid wireless dominates the prepaid sector and is driving much of the growth, the market for prepaid or walk-in financial goods and services for a variety of consumer segments is expanding significantly. Consumers are increasingly paying their bills electronically, buying prepaid gift and spending cards, and securing everything from home telephone dial tone service to public utilities on a prepaid basis. Consumer segments driving the growth of prepaid are increasingly crossing the divide between non-traditional and mainstream consumers. These segments include consumer demographics that cross ethnic lines and are as diverse as the cash-based, unbanked/underbanked individual; the credit challenged; the contract averse; the budget conscious; the youth market; and increasingly the mainstream consumer looking for convenience in everything from gift giving to controlling budgets.
Increasingly ubiquitous access to prepaid products is further driving consumer demand. Prepaid products are sold in a wide variety of retail locations. Consumers can obtain prepaid products today everywhere from big-box retailers and on the web to the corner convenience store. Convenience and proximity to the prepaid consumer is fueling the growth for all types of prepaid goods and services in the independent retailer channels.
Emida serves the retail market for prepaid goods and services, supporting retail chains and independent retailers. The company is focused on providing the services required for world-class transaction processing, access to best-of-breed products and services, and to help retailers generate consumer awareness and in-store demand for prepaid. In North America, Emida accesses the retailer channels primarily through independent sales organizations (ISOs) and has built market-leading programs specifically suited to this channel. Emida’s objective is to build the foremost ISO channel for prepaid in North America.
Emida also serves the carriers in the Americas with highly flexible and scalable processing platforms which allow these service providers to create multiple prepaid offerings and sell them into diverse distribution channels in their markets. Emida provides carriers with implementation support, sales and marketing support, and a platform for managing promotions and sales initiatives. Emida’s objective is to extend its lead as the foremost supplier of prepaid processing systems to carriers in the Americas.
Products and Services
Emida provides an extensive product portfolio for prepaid wireless, calling cards and financial services such as debit cards, gift cards, lottery and bill payment. The product portfolio includes market-leading point-of-sale solutions for real-time top up, which provide wireless carriers and their customers the ability to instantly replenish their accounts regardless of location.
Emida has also pioneered cross-border payment solutions, which enable real-time payments and wireless account replenishment for suppliers and their customers across geographies in any currency. Emida provides technology development and processing solutions for retailers, processing platforms and co-location services for carriers, distribution expertise, sales support, product management and merchandising services in the rapidly growing prepaid marketplace.
With the Emida platform carriers can rapidly and cost effectively deploy products, set commission rates for multi-hierarchy channels, and deliver products through a wide variety of point of sale devices, including POS terminals, PCs, kiosks, handset devices and IVR delivery systems.
Emida has formed numerous strategic partnerships with major carriers and service providers in each of the markets it serves. These include wireless carriers, MVNOs, CLECs, ILECs, technology providers and financial services companies to provide customers with flexibility and industry-leading solutions.
Some of Emida’s partners include:
Dennis Andrews, Chief Executive Officer
Andrews brings 31 years experience in the technology industry to Emida, including serving as former chairman and co-founder of eCatalystOne, also a provider of global online payment services, and 21 years with IBM during the initial explosion of the IBM PC business. He has been the president and/or CEO of advanced software companies since 1991, including seven-plus years in Silicon Valley. Andrews most recently served as CEO of Axcelerant, Inc., which was successfully sold to GRIC Communications in 2003. Andrews graduated with honors from Penn State University with a degree in theoretical mathematics. His graduate studies, also in theoretical mathematics, were at Syracuse University and the University of North Carolina.
Mike Keough, President North America
Keough served as CEO of Q Comm International, Inc since 2004. Prior to Q Comm, he served as CEO, president, and chief strategy officer of ClearOne Communications, a $60 million and 265-employee company that offers industry leading audio, video, and web-based conferencing products and services. During his two year tenure at ClearOne, shareholder value increased over 600 percent. From 1998 to 2002, Keough served as senior vice president of world wide sales for Tempo, a division of Textron, where he was responsible for building multinational sales organizations, developing strategic partnerships, and winning business from such clients as Bell South, SBC and Verizon. Prior to Tempo, Keough served as senior vice president of sales for Megahertz and vice-president of sales for the mobile communications division of USRobotics, both acquired by 3Com Corp. After the acquisitions, he became the vice president of channel sales for 3Com where he was responsible for a $2.2 billion annual revenue objective for all of 3Com’s product offerings, while managing approximately 250 people. Keough earned both an Executive MBA and Bachelors of Arts from the University of Washington.
James R. Wodach, CPA, Chief Financial Officer
Wodach has been Emida since 2001 and has more than 20 years of financial and operational experience. Wodach has raised in excess of $125 million through both public and private financings. From 2000 to 2001, Wodach served in various capacities including chief executive, operating and financial officer, and board member of Vicus.com. Previously he also held the position of senior vice president and CFO for PharmaPrint Inc., a publicly traded pharmaceutical and consumer products company. Wodach received a Bachelor of Science in Business Administration from California State University, Fullerton. He is also a Certified Public Accountant.
Fred Schade, Chief Information Officer
Schade brings more than 23 years of experience in IT and software development to Emida. Schade served as CTO for Q Comm International, Inc. and prior to that served as the CTO and vice president of R&D for MediConnect.net Inc. He developed the de facto standard (EDI) for medical record retrieval now used in the multi-billion dollar medical record retrieval industry. Prior to MediConnect.net, he was the director of software development for NetSchools Corp. From 1993 to 1997 he was director of software development for the Waterford Institute, where he was responsible for development of the Waterford Early Reading Program. From 1989 to 1993 he served as software engineer and product manager for IBM. He is the inventor/co-inventor of six technology and business process patents, four of which have been issued and two of which are pending.
Charles Callis, Vice President Corporate Marketing
Callis brings over 20 years of worldwide senior management and executive experience with global technology companies. Callis is responsible for Emida’s worldwide marketing initiatives including product innovations and management, marketing programs and alliances, channel marketing, and marketing communications. Prior to Emida, Callis served as vice president of marketing and business development at Q Comm International. He brings a track record of building innovative product strategies, industry alliances and value-added channel networks both domestically and internationally. Callis served as vice president, worldwide sales and marketing for ClearOne Communications where he built a global partner network of distributors and value-added resellers. Prior to that, Callis served as vice president of sales for e-learning platform company, Learnframe, and as a founding executive and vice president of worldwide sales and alliances for systems management leader Altiris, Inc. (currently Symantec). Over a decade he held numerous executive positions for networking software leader, Novell, Inc. including vice president of marketing, vice president of enterprise customers, and managing director Europe, Middle East and Africa. He was a National Resource Center Fellow and graduated magna cum laude from the University of Utah with BA and MBA degrees.
Luis Paz, Vice President LATAM
Mr. Paz is responsible for overseeing Emida’s Latin American operations. He has over 16 years experience in the development, deployment, and support of commercial software and engineering products. Prior to joining Emida, he served as senior software development director for Starmedia Mobile (now CycleLogic), where he led the development of mobile internet enabling platforms and value-added applications for wireless carriers in Latin America. Prior to StarMedia, Paz served for 11 years in several key technical and managerial positions for Modular Mining Systems, a subsidiary of Komatsu Ltd. (Japan). Paz received a BS in Systems Engineering and MS in Industrial Engineering and Operations Research from the University of Arizona.
Steve Gooderham, Vice President Caribbean
Steve Gooderham has over 25 years of international experience in technology based companies. He has successfully negotiated, and deployed multi-million-dollar telecommunications projects in Europe the Middle East and North America. As general manager for England-based Microvitec Multimedia, his team developed one of the first video-on-demand systems to be deployed by British Telecom. More recently with SCI and Corsair Communications he has led the deployment, management and support of prepaid systems throughout the Americas and the Caribbean. Since joining Emida three years ago, he has been responsible for managing the company operations in the Caribbean, as well as establishing a 7×24 support team for domestic and international clients.
Company focused on customer service and prepaid solutions to carriers, independent sales organizations, retail chains and independent retailers in the Americas and Caribbean
Salt Lake City and Foothill Ranch, Calif. – May 30, 2007 – Emida Technologies Inc. and
Q Comm International Inc., leading providers of electronic prepaid solutions, today announced they have agreed to merge and create one of the largest providers in the prepaid industry. The merger is expected to close on or after July 10, 2007.
By joining forces, the two companies will create the leading international prepaid and payment network with an extensive presence in key regions of the Americas and the Caribbean. The combination of Emida and Q Comm will result in a retail network of more than 21,000 prepaid points of sale in retail locations in 21 countries worldwide. They have a combined annual dollar payment volume in excess of $456 million, processing more than 34 million prepaid transactions annually.
Steven Ascher, director of re-boost distribution for Boost Mobile, commented, “As a partner to both Emida and Q Comm, we believe the merger will accelerate our ability to extend real-time replenishment services and programs to our channel and to our customers. We view the new, combined company as a key partner in developing our prepaid mobile business.”
Following the closing of the merger, the new company, which will do business as “Emida,” will focus its North American go-to-market efforts specifically on meeting the needs of independent sales organizations (ISOs), retail chains and independent retailers through a commitment to outstanding customer service and innovative product development.
“Retail merchants and major distributors, such as American Wireless, now have a large, financially stable company focused exclusively on our needs,” said Bruce Hallinan, vice president of prepaid services at American Wireless, a major partner of Emida. “It is important for us to have a provider with a long-term commitment, an extensive distribution network in the market and excellent customer service. The support and innovative products we get from Emida have allowed us to build a very strong partnership.”
The new company will provide an extensive product portfolio for prepaid wireless, calling cards and financial services for all customers. The combined product portfolio will include Emida’s market-leading, point-of-sale solutions for real-time top up, which enable wireless carriers and their customers to instantly replenish their accounts regardless of location. Emida has also pioneered cross-border payment solutions, which provide real-time payments and wireless account replenishment to suppliers and their customers across geographies in any currency.
Dennis Andrews, CEO of Emida, views the merger as combining two dynamic and similar companies that share the same goals and strategic direction. “While in some ways looking at each other is like looking in the mirror, we found that we have very complimentary strengths. By joining forces, we deliver a substantial mix of prepaid products, services and technology solutions that provide unique value across our various geographies and put us in a leadership position, particularly in the Americas and the Caribbean.”
Mike Keough, CEO of Q Comm, added that he sees the merger as a strategic move to capture market share in the prepaid market. “During the last couple of years, we have witnessed rapid growth and consolidation in the industry, in addition to an ever-increasing demand for better services and programs for various markets, including retail chains, independent retailers and the ISOs that service them. We believe this merger will position us at the forefront of serving these markets and will better enable us to capitalize on the accelerating growth in the market for all types of prepaid products and services.”
Andrews will continue to lead Emida as CEO, and Keough, as president of North America will have responsibility for the company’s operations in the United States and Canada. The combined management team of the merged companies possesses more than 200 years of aggregated professional experience in transaction processing networks, payment systems, information systems, customer support, international management, product innovation and financial management. The combined organization will continue corporate operations in both Foothill Ranch, Calif. and Salt Lake City.
For additional partner and customer perspectives on the merger and its impact on the industry, please see the additional quotes below. For more information, please visit https://emida.net and http://www.qcomm.com.
Emida is a leader in the global prepayment and value transfer market, operating in 18 countries in North, Central, and South America and the Caribbean. Emida POSA (point-of-sale activation) and value-transfer technologies allow domestic and international carriers and distributors to offer many types of prepaid products, including prepaid wireless, long distance, lottery and stored value. The company’s strategy is to build profitable, robust distribution networks for many prepaid products in multiple operating geographies and to introduce unique cross-border value transfer products between these geographies. For more information, please visit the company web site at www.emida.net or email email@example.com.
About Q Comm International
Q Comm International is a prepaid transaction processor that electronically distributes prepaid products from service providers to their customers at the retail point of sale.
Q Comm develops and offers advanced prepaid transaction processing platforms, support of various point-of-sale (POS) terminals, product management, merchandising, customer support and engineering. Q Comm systems replace traditional hard cards (also known as scratch cards or vouchers) that are costly to distribute and provide more comprehensive reporting and inventory management. Q Comm solutions are currently used by wireless carriers, telecom distributors, and various retailers to sell a wide range of prepaid products and services including prepaid wireless, prepaid phone cards, prepaid dial tone as well as prepaid and walk-in financial services for the un-banked and the under-banked. Visit us at http://www.qcomm.com for more information.
Additional Perspective on Merger
Best Telecom, ISO
“Having worked with Q Comm for three years, I feel this merger will create a significant new force in the prepaid market that is focused on delivery through ISOs and enhance the support that is needed for the independent channel,” said Rick Sallade, CEO at Best Telecom, “I look forward to seeing firsthand the positive developments that will result from the merger, including innovative product development, quality customer service and additional resources targeted at ISOs and their retail customers.”
Wireless Toyz, retail customer “We have benefited from the superior customer service that Q Comm provides,” said Jack Barbat, vice president at Wireless Toyz. “Our business has grown substantially with the prepaid products and services we have been able to offer customers with Q Comm. We see this merger as a way to expand the services we offer our customers and maintain the confidence that we will continue to be supported by a trusted partner and have access to leading products and processing solutions.”
Note: This press release is not intended as a solicitation to sell or buy any security.
The securities to be issued to Q Comm stockholders at the closing of the merger will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the Securities Act and applicable state securities laws or an applicable exemption from those registration requirements. An information statement will be distributed to shareholders of Q Comm to describe the material terms of the proposed merger as well as the business, financial condition, operations and risks associated with each of Debisys and Q Comm. A purchaser representative also will be appointed to represent the interests of Q Comm shareholders in connection with the merger. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities of Debisys.