Clariti Telecommunications International Acquires TWC Direct; Triples IP Revenues -- Strengthens Distribution Network with 47,000 New Points of Distribution.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Dec. 23, 1999 Clariti Telecommunications International, Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CLRI CLRI Central Leather Research Institute (India) ) today announced that it has acquired Tekbilt World Communications, Inc., d.b.a. TWC TWC The Weather Channel TWC Time-Warner Cable TWC Texas Workforce Commission (also seen as TWFC) TWC The Wellness Community TWC The Washington Center TWC Teachers & Writers Collaborative TWC Trustworthy Computing Direct, ("TWC"), a Warminster, Pennsylvania based distributor of telecom products and services including; 1+ long distance and toll free services (O.Eng. Law) such feudal services as were not unbecoming the character of a soldier or a freemen to perform; as, to serve under his lord in war, to pay a sum of money, etc. See also: Free , prepaid calling cards, postpaid calling cards, prepaid cellular and e.telecom. TWC had revenues of approximately $8 million over the last twelve months. Specific terms of the acquisition were not disclosed. Ronald R. Grawert, Chief Executive Officer of Clariti, said, "The addition of TWC more than triples the revenues of our IP Division to approximately $12 million. TWC will provide us with an extensive, well established network of more than 47,000 points of distribution. We will be able to increase the volume of traffic over our managed IP Network then leverage this network and use it as a springboard as we introduce new products such as IP telephony The two-way transmission of voice over a packet-switched IP network, which is part of the TCP/IP protocol suite. The terms "IP telephony" and "voice over IP" (VoIP) are synonymous. , Internet access See how to access the Internet. services, and our patented wireless voicemail system." Joseph A. Smith, Executive Vice President - Operations of Clariti, added, "In addition to its vast distribution network, TWC's e-commerce technology will bring a number of additional applications that we believe will allow us to provide our customers with a broader range of services including the ability to purchase prepaid service and service upgrades, either over the Internet or through a single phone call. We believe these added features will save both Clariti and our customers time and money." Carl A. Saling III, of TWC added, "Since TWC began operating five years ago, we have consistently achieved triple digit growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. . Clariti offers so many opportunities for us to further grow our business and continue our strong record of improvement. Our debit calling card business and our proprietary prepaid cellular technology platform have very strong and potentially exponentially profitable applications for Clariti's growing line of products and services. The synergistic opportunities that this union creates will enable us to more rapidly ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale our sales and profits." About Clariti Telecommunications Clariti Telecommunications International, Ltd. is a diversified international telecommunications company See telecom company. headquartered in Philadelphia, PA. Clariti's leading-edge businesses offer a wide variety of products and services in the four key areas of telecommunications: Voice, Data, Internet, and Wireless. Clariti is integrating its services using next-generation network technologies to offer advanced solutions at lower costs than traditional networks. Clariti is utilizing its state-of-the-art VoIP (voice over IP) network to deliver low-cost, high quality domestic and international voice and fax communications, dial-up and dedicated high-speed Internet See broadband. access, web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. , and E-commerce solutions. Clariti is also developing the ClariCAST(TM) Wireless Voicemail System, a patented digital wireless system that combines attributes of pagers, mobile phones, and voicemail into a single small, portable device. Clariti markets its products and services to customers in rapidly growing telecommunications markets such as Latin America, Asia, Australia, the Middle East, and the U.S. More information on Clariti and its products and services can be found on the World Wide Web at www.clariti.com. Special Note Regarding Forward-Looking Statements: This press release contains certain forward-looking statements that involve risks and uncertainties, including statements about Clariti's growth prospects, the ability to expand its telecom business and market share at a lower cost to both Clariti and its customers, the use of TWC's infrastructure, the synergies and advantages of the TWC acquisition, and the development and sales of new products and services. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, changes in telecommunications regulations, changes in consumer demand for certain telecommunications products and services, acceptance of IP Telephony, and various other factors beyond the control of the companies. This includes such factors as described from time to time in the SEC reports filed by Clariti Telecommunications International, Ltd., including the most recently filed Form 10-KSB. |
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