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ActiveCore Announces GSPS/ePocket's Agreement to Acquire CyBux Ltd.


TORONTO -- ActiveCore Technologies, Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:ATVE), a Company that operates a group of subsidiaries and divisions in the U.S. and Canada, today announced that Global Sterling Payments Systems Limited ("GSPS GSPS Giga-Samples Per Second
GSPS Grayscale Softcopy Presentation State (medical digital imaging)
GSPS Global Software Piracy Study (BSA)
GSPS Goon Show Preservation Society
"), the parent company of ePocket, has entered into a binding agreement to acquire CyBux Ltd., a payment solution provider based in Vancouver, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography
.

Earlier this month ActiveCore announced its intent to acquire all of the issued and outstanding shares of GSPS, a company in which it already owns a minority interest. The planned acquisition of the CyBux core technologies will immediately complete the payment suite of products that ePocket can provide to potential customers. CyBux also provides an established method of funding the ePocket wallet, given its relationships with thousands of Chartered Banks Chartered Bank

A financial institution whose primary roles are to accept and safeguard monetary deposits from individuals and organizations, and to lend money out. The details vary from country to country, but usually a chartered bank in operation has obtained government permission
 in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. .

With the addition of the CyBux system, ePocket will allow its customers to choose the appropriate payment technology to fit the security and technology characteristics required for many different types of payment transactions. Extending the ePocket digital coin technology with the CyBux account-based system will allow ePocket's customers to facilitate payment transactions in either open or closed payment systems, using account-based, token-based and hybrid payment models, not requiring credit card information, such as required by current popular online payment systems in use today.

Peter Hamilton Peter Hamilton may refer to:
  • Peter F. Hamilton: British science-fiction writer, with an emphasis on space opera
  • Peter J. Hamilton: Alabama lawyer/historian and Puerto Rico federal judge
  • Peter Hamilton (Columbo): A character from the Columbo Episode lady in waiting
, the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of ActiveCore, stated: "I am delighted that ePocket has identified and is working with a technology that can be used in conjunction with the ePocket digital coin offering or can be implemented immediately on a stand-alone basis to facilitate micro payments in the expanding online Youth Market. ePocket has already been realizing the benefits of the CyBux technology and their payment processing engine which has accelerated the commercialization of the combined products and the ability to deploy at a number of existing strategic sales opportunities."

Tom Lennox Thomas "Tom" Lennox is a fictional character from the television series 24, played by Peter MacNicol. He first appeared in the first episode of 24's 6th season, where he plays the White House Chief of Staff of President Wayne Palmer. , the CEO of CyBux Ltd., stated: "Being part of a larger team with payment technology expertise will give the CyBux system broader exposure to the micro payment market while providing a much stronger implementation and support capability."

Neil Fishenden, the CEO of GSPS, stated: "This acquisition will provide the final element of technology required to realize the vision of the company to become a world-class Payment Technology Solution Provider." He also stated that "by combining these technologies with the ActiveLink and ActiveCast products from ActiveCore and their specialist payment consulting group, the Company will be able to speed up its go-to-market strategy and greatly enhance the implementation process for the combined entities."

About CyBux

(http://www.CyBux.net)

CyBux has created an integrated online payment system across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET.  involving most of the major banks and credit unions. This network encompasses thousands of financial institutions and provides a highly secure account-based payment system for use on the Internet. Consumers do not have to give up any credit information in order to accomplish a payment and can set up an account and begin using the system with simply providing an email account email account email ncompte m (e-)mail . The system is low cost, making it ideal for micro-payments and a replacement for existing online payment methods and subscription systems.

About Global Sterling Payment Systems "GSPS"

Global Sterling Payment Systems is a private UK company that owns 100% of ePocket. It is focused entirely on the payment technology market place and has offices in both Toronto, Canada, and London England.

About ePocket Inc.

(http://www.ePocket.com)

ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. ePocket payments cost merchants less than any other payment technologies. Their extraordinary cost effectiveness enables merchants to profitably accept very small payments of just one or two dollars. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.

About ActiveCore Technologies, Inc.

(http://www.ActiveCore.com)

ActiveCore Technologies, Inc., operates a group of subsidiaries and divisions in the U.S. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems. Our products encompass web portals See portal. , enterprise middleware, mobile data access, data management and system migration applications. The Systems Integration & Modernization Division of ActiveCore operates under the trade names of CRATOS CRATOS Centro di Ricerca Sulle Applicazioni della Telematica alle Organizzazioni e Alla Società (Italy)  and MDI (1) (Multiple Document Interface) A Windows function that allows an application to display and lets the user work with more than one document at the same time.  Solutions. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus and ActiveCast. ActiveCore services clients in health care, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page.
, government and manufacturing worldwide.

Statements contained in this news release regarding ActiveCore Technologies, Inc., formerly IVP IVP
abbr.
intravenous pyelogram


IVP (Intravenous pyelogram)
The use of a dye, injected into the veins, used to locate kidney stones. Also used to determine the anatomy of the urinary system.
 Technology, and planned events are 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.
, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 28, 2006
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