Avery Communications Inc. Corrects and Replaces Previous Acquisition Announcement, BW0283, IL-AVERY-COMMUNICATIONS-2 Issued May 29.Business Editors NOTE: The following news release replaces and corrects the previous Avery Communications Inc. news release, which ran Tuesday on Business Wire, BW0283 (IL-AVERY-COMMUNICATIONS-2) CHICAGO & LOS ANGELES--(BUSINESS WIRE)--May 30, 2001 Avery Communications Inc. Enters Into Agreement With Qorus.com Inc. to Acquire Aelix Assets Avery Communications Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ATEX ATEX ATmosphere EXplosibles (French: Explosive Atmospheres) ATEX Anti-Terrorism Exercise ATEX ATM Tributary Extension (Tellabs) ), a provider of customer care and billing services, today announced it has reached a definitive agreement with Qorus.com Inc. to acquire the messaging assets of Qorus.com Inc., known as "Aelix," a global notification and messaging clearinghouse for Customer Relations Management (CRM (Customer Relationship Management) An integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. ) services. The consummation of this transaction will be subject to a number of conditions, including appropriate regulatory approval, the affirmative votes of shareholders of the selling company, and receipt of fairness opinions. "The proposed transaction is consistent with Avery's business expansion strategy to leverage our expertise of providing billing and customer care solutions to the telecommunications industry to other industries and immediately positions us with established global partners in the travel and hospitality markets. This transaction supports management's growth objectives without a significant dilutive impact on earnings," commented Patrick J. Haynes, III, chairman of Avery Communications. "Qorus has begun to pursue other business opportunities to leverage its expertise in information communications," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Thomas C. Ratchford, Qorus' chief financial officer. The new business opportunities will likely focus in the business services area. "We hope to reposition Qorus as a leader in one or more business service areas. There have been opportunities to add value to profitable cash-flow businesses," he said. "We are excited about the prospect of becoming a part of Avery Communications Inc. This acquisition progresses Aelix from a venture capital stage company to an operational business subsidiary of an organization with a much stronger financial base," said Aelix Chief Executive Officer Wesley N. Waite, Sr. "To assure continuity within our industry we will maintain the Aelix corporate identity and continue to offer our OmniReach(SM) product. "The additional financial and technical resources available from Avery should increase our efforts to develop next-generation platforms that target enhanced services capabilities and product offerings. I believe the strength of Avery will substantially increase our penetration of the travel and hospitality markets." OmniReach(SM), Aelix's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , enables secure, real-time, bidirectional The ability to move, transfer or transmit in both directions. communications between companies and their customers via a number of different media and devices worldwide. The company currently provides services to Hilton Hotels (NYSE NYSE See: New York Stock Exchange :HLT HLT See: Highly leveraged transaction ) and Northwest Airlines (NYSE:NWA NWA Northwest Airlines (ICAO code) NWA Northwest Arkansas NWA National Wrestling Alliance NWA National Weather Association NWA National Works Agency (Jamaica) NWA Network Analyzer ). A complete list of recent news releases can be found at www.aelix.com/apress.htm. About Aelix Inc. Founded in January 2000 in Los Angeles, Aelix is a provider of intelligent communications solutions to enterprises, notably in the travel and hospitality, financial services and electronic commerce sectors. The company's solutions are a key enabler of improved Customer Relationship Management (CRM), supply and demand chain management, and sales force automation Automating the sales activities within an organization. A comprehensive SFA package provides such functions as contact management, note and information sharing, quick proposal and presentation generation, product configurators, calendars and to-do lists. for a growing number of Fortune 500 companies. Aelix delivers its carrier-grade services through an ASP (Application Service Provider) business model. The company's strength is identifying best-of-breed Internet Protocol (IP) applications and integrating them into easy-to-deploy, customizable solutions that deliver measurable value to enterprise and service provider customers. About Avery Communications Avery is a telecommunications service company engaged in providing billing and collection clearinghouse services for inter-exchange carriers and long-distance resellers through its operating subsidiary HBS HBS Harvard Business School HBs Hepatitis B Surface HBS Heinrich Boell Stiftung (German Political Foundation) HBS Household Budget Survey HBS Hogere Burgerschool HBS Hawaii Biological Survey (Bishop Museum) Billing Services Inc. HBS Billing Services' customers consist primarily of direct-dial long-distance telephone companies. The company's clearinghouse operations are based in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , where it maintains billing arrangements with approximately 1,300 telephone companies that provide access lines to, and collect for services from, end-users of telecommunication services. HBS Billing Services processes transaction records and collects the related end-user charges from Local Exchange Carriers for its customers. HBS also provides enhanced billing services for transactions related to providers of premium services or products that can be billed through the local exchange telephone companies, such as Internet access, voice mail services and other telecommunications charges. For additional questions or information, contact Bill E. Young. Certain statements contained in this document may be deemed to be forward-looking statements under federal securities laws, and Avery intends that such forward-looking statements be subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created thereby. Such forward-looking statements include, but are not limited to risks as detailed from time to time in Avery SEC reports, including its Registration Statement on Form SB-2, Quarterly Reports on Form 10-QSB, Current Reports on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , and Annual Reports on Form 10-KSB. |
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