Printer Friendly


 VANCOUVER, British Columbia, Nov. 9 /PRNewswire/ -- Equity Investments Corp. (Montreal: EQM) is pleased to announce that it has signed a letter of intent with AGS Computers Inc. (AGS), a wholly owned subsidiary of NYNEX Corp., to acquire all of the assets related to TTI Technologies Inc.'s (TTI) business of application software for computer- aided dispatch. TTI is a division of AGS.
 The transaction is expected to close by Dec. 31, 1993, subject to regulatory approval and TelSoft's satisfactory completion of its due diligence review of the business and financial condition of TTI, and the successful negotiation and execution of a definitive acquisition agreement.
 The assets to be acquired by TelSoft include all software, including source code and related technology, all trademarks, all customer warranty, support, maintenance and development agreements and sundry computer and office equipment. In addition, TelSoft will assume certain lease obligations relating to TTI's office premises and engage certain of TTI's key employees.
 TTI is a systems integrator with the capability to deliver an entire automated dispatching and mobile data solution. As a systems integrator, the company has the expertise and resources to assume the prime responsibility for a dispatching project. TTI has developed a computer-aided dispatching and mobile data system called Mobile Digital Exchange that has been installed at multiple sites. The company's information management services are strategically focused on information systems consulting, application software, hardware/software conversions, training and support.
 TTI focuses on gas and electric utility information products and services and is TelSoft's prime competitor in North America. The combined customer base of TelSoft's subsidiary, MDSI Mobile Data Solutions Inc., and TTI comprises 80 percent of the existing North American utility computer-aided dispatch market.
 TelSoft's corporate partners of choice have substantial growth potential within their own markets, positive cash flow sufficient to maintain current annual operations, and management able to capitalize on the opportunity.
 "The acquisition of TTI's assets is one more step in TelSoft's revenue strategy," said Peter Bradshaw, chief executive officer. TelSoft brings capital and technical synergy to our new partners, both through our existing corporate infrastructure, and through new acquisitions such as TTI:
 Business Of The Company
 Equity Investments Corp. is a public British Columbia-based company. The company's common shares and Series 2 preference shares are listed on The Montreal Exchange.
 The company has made application to change its name to TelSoft Mobile Data Inc. The name more accurately reflects the company's principal business -- the development, design, installation and service of proprietary application software that facilitates the transmission of wireless data for gas and electric utility, cable television and fleet vehicle operations.
 The company's vision is to provide freedom of movement to millions of North American mobile professionals, empowering them with real-time data connections, anywhere, anytime. Wireless data communications is one of the fastest growing sectors of the telecommunications industry (currently a $2 billion market, forecast to reach $10 billion within 10 years, according to International Resource Development Inc., Connecticut, USA). This field is expected to grow rapidly as businesses aggressively adopt wireless devices in their search for improved productivity and customer service to satisfy the mobile worker's growing need for "Information On The Run."
 -0- 11/9/93
 /CONTACT: Doug G. Hooper, president, or Rooky Driver, executive assistant to Peter Bradshaw, CEO, 604-682-1400/

CO: Equity Investments Corp. ST: British Columbia IN: CPR SU: TNM

NY-MF -- LA012 -- 2002 11/09/93 06:01 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 9, 1993

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters