AdvantEdge to Acquire World Leader in Point-of-Sale Technology.CONCORD, Ontario--(BUSINESS WIRE)--Oct. 30, 1996-- Advantedge Internati (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). AII AII Auto ID Infrastructure AII Agence de l'Innovation Industrielle (French Agency for Industrial Innovation) AII Active Input Interface (used in UNI PMD specs for Copper/Fiber) AII ASEAN Information Infrastructure .) David Shneer, president and 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 AdvantEdge International Inc. ("AdvantEdge") today announced the signing of a letter of intent to purchase a 50 percent equity interest in a South African technology company that is recognized as a world leader in PC based, point-of-sale ("POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ") systems for retail gasoline stations. The terms of the acquisition were not disclosed. The products marketed by this company were critical components in the successful national implementation of the FuelMaster system in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. by the local FuelMaster distributor, in association with British Petroleum. As FuelMaster must interface with a point- of sale system, this acquisition will enable AdvantEdge to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the proven technology, track record and international reputation of this company. Shneer stated: "The synergy between AdvantEdge's FuelMaster system and the products marketed by this company will result in tremendous benefits to both companies. As a stand alone POS product or used in conjunction with FuelMaster, this state of the art technology compliments AdvantEdge's development plans and broadens its revenue opportunities". Shneer went on to state, "This acquisition represents a significant step towards maximizing AdvantEdge's growth and revenue potential and will solidify AdvantEdge's strategic position as a provider of comprehensive marketing solutions to the retail fuel industry." AdvantEdge International Inc. is a holding company whose wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. AdvantEdge Products and Solutions Inc. holds exclusive distribution rights to certain sophisticated high technology products and systems for the monitoring and management of motor vehicle "fleet" operations. These exclusive rights cover all of North America and 19 countries in Asia. -0- The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. CONTACT: Advantedge International Inc. Gary Perkins, 905/479-2800 905/479-8608 (FAX) 1-888-205-2917 (TOLL FREE) |
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