Acquisition of Information Technology Provider, EAsy/IP Limited, Announced by EuroTelecom Communications Inc.LONDON--(BUSINESS WIRE)--March 26, 1999--EuroTelecom Communications (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:EUTC EUTC Equivalent Unité à Temps Complet ) continues to execute its new aggressive business plan for market expansion and growth through the acquisition of leading edge Information Technology companies. EuroTelecom announced today that negotiations were concluded for the acquisition of EAsy/IP Limited. EAsy/IP Ltd. represents EuroTelecom's first acquisition in a planned series of strategic partnering with high technology mergers and acquisitions that support the rising demand of quality and cost effective Information Technology solutions. EAsy/IP is a fast growing distribution company in the field of TCP/IP TCP/IP in full Transmission Control Protocol/Internet Protocol Standard Internet communications protocols that allow digital computers to communicate over long distances. and computer related products. EAsy/IP provides leading edge applications for advanced networking solutions that cross all industry sectors. The company is a specialist supplier of software and hardware in the Information Technology arena, with a customer base of over 350 major United Kingdom resellers. This acquisition by EuroTelecom gives each company significant new product distribution channels for launching new advanced stage computer networking
Computer networking is the engineering discipline concerned with communication between computer systems or devices. products and services. Total sales by EAsy/IP for the financial year ending in March 1999 are expected to be $ 1.92 million and are projected to increase to approximately $3.2 million for the year 2000. The acquisition costs to be incurred by EuroTelecom over the next twelve months will include consideration payable to EAsy/IP of restricted shares of stock plus three cash payments totaling $194,700 from EuroTelecom's resources. The Board believes that the acquisition of EAsy/IP will significantly enhance earnings. Joining the EuroTelecom group enables EAsy/IP to broaden its product line with Internet and Intranet products and to offer a high quality line of broad application LAN/WAN LAN/WAN Local Area Network/Wide Area Network , PC router router Portable electric power tool used in carpentry and furniture making that consists of an electric motor, a base, two handle knobs, and bits (cutting tools). A router can cut fancy edges for shelving, grooves for storm windows and weather stripping, circles and ovals hardware. The two companies also plan to introduce leading edge networking security products that will maximize their combined expertise in sales and service to the exponentially ex·po·nen·tial adj. 1. Of or relating to an exponent. 2. Mathematics a. Containing, involving, or expressed as an exponent. b. growing I.T. Security industry. Over the next two quarters, EAsy/IP will double its Telecom sales force and create a high level corporate sales division. The market strength of the EuroTelecom Group and of EAsy/IP will both be enhanced by this undertaking and long term, stable growth of both entities will be achieved by offering more products and services to more customers. EuroTelecom Communications Inc. (http://www.eurotelecom.co.uk) supplies Information Technology systems and networking infrastructures to telecommunications operators, systems integrators, corporations, financial institutions, governments, and defense organizations. The Company conducts its world wide business from the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the United Kingdom, Europe, and Japan. The foregoing press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , and any statements contained in this Press Release that are not statements of historical fact may be deemed to be such. These statements by their nature involve substantial risks and uncertainties and actual results may differ. |
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