TRM Corporation Buys UK ATM Software Developers for Global E-commerce Infrastructure Expansion.Business/Hi Tech Editors SAN FRANCISCO--(BUSINESS WIRE)--May 10, 2000 iATMglobal.net, the e-commerce infrastructure subsidiary of TRM Corporation (Nasdaq:TRMM TRMM Tropical Rainfall Measuring Mission (NASDA/NASA) TRMM Thermal Radiation Math Model TRMM Training Resource Management Meeting (US Army) TRMM Token Ring Management Module ), announces that it has agreed to acquire Strategic Software Solutions Limited, a leading developer of custom Internet solutions for Automated Teller Machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATMs). Strategic Software Solutions and iATMglobal.net will build a Web-based distribution channel to deliver convenient access e-commerce goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. through the existing worldwide network of approximately one million ATMs. Strategic Software Solutions develops custom Internet and software solutions for ATMs manufactured by NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers (NYSE NYSE See: New York Stock Exchange :NCR). Strategic Software Solutions and NCR jointly market @tmLink, the only Internet-based ATM uploading and notification product for NCR-built ATMs. Strategic Software Solutions' proprietary product, through a strategic alliance with PSINet (Nasdaq:PSIX PSIX Port State Information Exchange ), an Internet Super Carrier offering global eCommerce infrastructure, leverages its global Internet communications backbone. Strategic Software Solutions is located in Alloa, Scotland. iATMglobal.net intends to relocate its technology development headquarters to Alloa. With the acquisition of Strategic Software Solutions, iATMglobal.net adds significant resources to the development team that is building its Remote Access Application Protocol (RAAP RAAP Rape Assistance and Awareness Program RAAP Religious Alliance Against Pornography (Cincinnati, OH) RAAP Radford Army Ammunition Plant RAAP Remote Access Astronomy Project RAAP Rapid Application of Air Power ). RAAP enables e-commerce companies to efficiently transform and migrate their respective offerings to ATMs. The software-based network transforms existing ATMs into Internet ATMs (iATMs), allowing controlled access and functions for the end user. In conjunction with strategic e-commerce partners, iATMs will be able to deliver a wide range of goods and services, including event and movie ticketing, Internet banking services, prepaid long distance and cellular telephone card affinity program vouchers, and a multitude of other goods and services. Anything the Internet delivers to consumers can be available using the iATM network provided that such offerings are within transaction timing, decision-making and queuing expectations of ATM end-users. Besides the Internet infrastructure development work at iATMglobal.net, TRM currently operates both ATM and CopyCenter(TM) networks in retail locations 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. and Europe. Forward Looking Statement The discussions in this release regarding iATMglobal.net's or TRM's plans with respect to e-commerce potential and either company's ability to sell software and related products or services relate to future performance. Such statements are forward-looking statements within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and are based on management's current expectations and assumptions and other present information iATMglobal.net and TRM have related to their existing business circumstances. Investors are cautioned that such forward-looking statements are subject to inherent risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. Factors that may affect future results include, among other things, iATMglobal.net's ability to execute its e-commerce and software development plans successfully, competitive factors and increased competition in the e-commerce industry, the risk that TRM's ATM subsidiaries' performance and customer acceptance may be significantly different from expected results, the ability of iATMglobal.net or TRM to successfully implement its plans to grow its e-commerce business and manage its growth effectively, and the factors set forth in the Company's filings with the SEC, including Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion