Telemonde Inc. Announces Conditional Agreement To Purchase For US$160 Million 100% of the Outstanding Shares of Global Communications --Holdings-- Limited.NEW YORK--(BUSINESS WIRE)--Nov. 22, 1999-- Telemonde Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TLMD) ("Telemonde") announced that it has entered into conditional agreement to purchase 100% of the issued and outstanding common shares of Global Communications (Holdings) Limited ("Global"), a UK-based holding company with Internet-based interests. The US$160 million (GB(pound)100 million) consideration will be a combination of cash, loan notes and common shares of Telemonde Inc. Global Communications (Holdings) Limited is an innovative (Cambridge) UK-based Internet company whose specialist services include secure e-commerce transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , website development and hosting, a variety of telephony services and international promotion. Global's on-line secure e-commerce services are made available through its NetBanx subsidiary. Netbanx is the only transaction processor in the UK to have merchant facilities with seven card acquirers, including merchant outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. with Barclays Bank and National Westminster Bank. Netbanx has over 2000 merchants which, 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. market research, represents over 50% of existing e-commerce-enabled sites in the UK. Since 1997, Global's Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , Hostnet, has provided a full range of Internet services including hosting packages, domain registration and specialist charity packages. Global has also developed an Internet dialer called PremiumNet, as an e-commerce solution to earn revenues on a per minute basis via telecom billing systems. Global's website construction company, Netsite Solutions develops both template and customized Webster packages. Global also has a specialist division that constructs, in conjunction with publishers and media groups, three-dimensional virtual reality interactive websites for high street branded products. Utilizing Global's group infrastructure, the group provides both domestic and international telephony services combining the use of its own international termination platforms with media promotion in some 20 countries worldwide. Global has established predictable revenue streams from Blue Chip telecoms companies and has subsidiary offices and call centers in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Chile, USA, Canada, Spain and Moscow. Global plans to expand its operations into a number of additional European countries in the coming months and will be establishing a European center for its activities there. Telemonde and Global intend to complete the transaction before 31 January 2000. Telemonde Inc. is a telecommunications business focused on building a global infrastructure network interconnecting the markets of the developed world with regional hubs in the developing world, enabling the latter's populations to participate fully in the global communications community. Over this platform the Company offers PTTs and other telecommunications operators managed bandwidth, voice and data services through its network of telehouses and switching infrastructure, as well as broadband and connectivity solutions for next generation Internet See Internet2. and multimedia companies. Telemonde is simultaneously building high margin businesses on its network through its offering of a portfolio of services, including: international traffic route management, prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. , prepaid
GSM (Global System for Mobile Communications) A digital cellular phone technology based on TDMA that is the predominant system in Europe, but also used worldwide. Developed in the 1980s, GSM was first deployed in seven European countries in 1992. , faxmail and voicemail. This is coupled with its development of
e-commerce, Internet hosting and content provision, plus full ASP
capability.
Certain statements in this news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risks, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ. |
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