DataLogic International Signs Purchase Agreement for Remaining Shares of VoIP Subsidiary
06 November 2004 - 2:00AM
PR Newswire (US)
DataLogic International Signs Purchase Agreement for Remaining
Shares of VoIP Subsidiary IRVINE, Calif., Nov. 5
/PRNewswire-FirstCall/ -- DataLogic International, Inc., (OTC
Bulletin Board: DLGI; Berlin, Frankfurt Stock Exchange: 779612) a
technology and professional services company providing a wide range
of consulting services, telecommunications products, such as VoIP
equipment, and GPS vehicle tracking devices, today announced that
it has entered into an agreement to purchase the remaining 49%
interest in its subsidiary, IPN Communications, Inc. to make it a
wholly owned subsidiary. IPN Communications is a provider of voice
over Internet protocol (VoIP) telephony products and services. The
company targets consumers and business users on a worldwide basis
who seek to reduce communication costs. DataLogic acquired its
initial interest in IPN Communications in June 2003. "DataLogic's
decision to acquire full ownership of IPN was driven primarily by
our interest in accessing the very large consumer market for VoIP
services, and we expect that this goal will be best achieved with
IPN as a wholly owned subsidiary. This transaction represents an
excellent opportunity for DataLogic as we continue to develop our
business strategy to capitalize on our strengths in the IT and
communication arenas," said Derek Nguyen, DataLogic's CEO. Under
the terms of the transaction, DataLogic will purchase the remaining
interest of IPN with DataLogic common stock. The deal is expected
to close today. Michael Wu, IPN Communication's founder and CEO
will remain as CEO. "We are very happy to complete the blending of
our product and technology expertise under DataLogic's expanding
business model. We will work side-by-side with DataLogic to grow
brand awareness and recognition in the business community and
retail arena," said Michael Wu, IPN's CEO. About DataLogic
International, Inc. DataLogic International, Inc. is a technology
and professional services company providing a wide range of
consulting services and telecommunications products such as VoIP
phones, videophones, communications servers and GPS vehicle
tracking devices. The company also provides Information Technology
outsourcing and consulting services. DataLogic's customers include
U.S. and international governmental agencies as well as a variety
of international commercial organizations. For more information
about DataLogic International, please visit http://www.dlgi.com/.
About IPN Communications, Inc. IPN Communications, Inc. is a
provider of voice over Internet protocol (VoIP) telephony products
and services. The company targets consumers and business users on a
worldwide basis who seek to reduce communication costs. IPN's
product suite includes USB and Ethernet based VoIP phones, IP Phone
adapters, videophones, and turnkey servers that support in-network
VoIP calling and VoIP to public-switch telephone networks (PSTN).
For more information about IPN Communications, please visit
http://www.ipncom.com/. This news release includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, among other things, our plans, strategies and
prospects, both business and financial. Although we believe that
our plans, intentions and expectations reflected in or suggested by
these forward-looking statements are reasonable, we cannot assure
you that we will achieve or realize these plans, intentions or
expectations. Forward-looking statements are inherently subject to
risks, uncertainties and assumptions. Many of the forward-looking
statements contained in this news release may be identified by the
use of forward-looking words such as: believe, expect, anticipate,
should, planned, will, may, intend, estimated, and potential, among
others. Important factors that could cause actual results to differ
materially from the forward-looking statements we make in this news
release include market conditions and those set forth in reports or
documents that we file from time to time with the United States
Securities and Exchange Commission. All forward-looking statements
attributable to DataLogic International or a person acting on its
behalf are expressly qualified in their entirety by this cautionary
language. Contact Information: Donna Dolan Investor Relations
949-260-0120 ext 204 DATASOURCE: DataLogic International, Inc.
CONTACT: Donna Dolan, Investor Relations of DataLogic
International, Inc., +1-949-260-0120, ext. 204, Web site:
http://www.ipncom.com/ Web site: http://www.dlgi.com/
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