DiversiFax to acquire new PC-based voice and data switching technology that turns ordinary fax units into low-cost, card operated public machines.VALLEY STREAM, N.Y.--(BUSINESS WIRE)--Feb. 21, 1995--DiversiFax, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DFAX, DFAXW) announced Tuesday that it has entered into a preliminary agreement with a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. to acquire its Smart Switch(TM) technology developed for hotel, airline, college and library use. DiversiFax 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. Irwin A. Horowitz said that to protect its interest in the hotly competitive telecommunications acquisition scene, the name of the company whose assets are to be acquired would not be disclosed until the transaction is concluded. Closing is subject to a number of conditions including approval by majority shareholders of the private company, which is expected later this month. At that time, its identity and terms of the transaction will be revealed, Dr. Horowitz said. Smart Switch(TM) technology provides real-time, storage and message forwarding capabilities for a new PC-based voice and fax switching platform developed for high traffic locations. The technology is specifically compatible with credit card and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. payment modes, making such public venues a natural market. Dr. Horowitz said that the Smart Switch(TM) platform will enable ordinary off-the-shelf fax machines to be converted into voice and data transmission devices such as public fax machines, at lower cost to all parties. DiversiFax currently owns and operates more than 2,500 coin and debt card-operated fax and photocopy machines in nearly 1,000 locations in 250 Eastern and Midwestern cities, making it one of the largest public companies in its field. CONTACT: DiversiFax Inc., Valley Stream Dr. Irwin A. Horowitz, CEO, 516/872-0650 or The Cavior Organization Inc., New YOrk New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Samuel S Samuel, two books of the Bible, originally a single work, called First and Second Samuel in modern Bibles, and First and Second Kingdoms in the Septuagint. They are considered part of "Deuteronomistic history," in which the book of Deuteronomy functions as the . Cavior, 212/687-6070 |
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