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DataLogic International Signs Purchase Agreement for Remaining
Shares of VoIP Subsidiary
IRVINE, Calif., Nov. 5 /PRNewswire-FirstCall/ -- DataLogic International,
Inc., (OTC Bulletin Board: DLGI; Berlin, Frankfurt Stock Exchange: 779612) a
technology and professional services company providing a wide range of
consulting services, telecommunications products, such as VoIP equipment, and
GPS vehicle tracking devices, today announced that it has entered into an
agreement to purchase the remaining 49% interest in its subsidiary, IPN
Communications, Inc. to make it a wholly owned subsidiary.
IPN Communications is a provider of voice over Internet protocol (VoIP)
telephony products and services. The company targets consumers and business
users on a worldwide basis who seek to reduce communication costs. DataLogic
acquired its initial interest in IPN Communications in June 2003.
"DataLogic's decision to acquire full ownership of IPN was driven primarily by
our interest in accessing the very large consumer market for VoIP services, and
we expect that this goal will be best achieved with IPN as a wholly owned
subsidiary. This transaction represents an excellent opportunity for DataLogic
as we continue to develop our business strategy to capitalize on our strengths
in the IT and communication arenas," said Derek Nguyen, DataLogic's CEO.
Under the terms of the transaction, DataLogic will purchase the remaining
interest of IPN with DataLogic common stock. The deal is expected to close
today. Michael Wu, IPN Communication's founder and CEO will remain as CEO.
"We are very happy to complete the blending of our product and technology
expertise under DataLogic's expanding business model. We will work
side-by-side with DataLogic to grow brand awareness and recognition in the
business community and retail arena," said Michael Wu, IPN's CEO.
About DataLogic International, Inc.
DataLogic International, Inc. is a technology and professional services company
providing a wide range of consulting services and telecommunications products
such as VoIP phones, videophones, communications servers and GPS vehicle
tracking devices. The company also provides Information Technology outsourcing
and consulting services. DataLogic's customers include U.S. and international
governmental agencies as well as a variety of international commercial
organizations. For more information about DataLogic International, please
visit http://www.dlgi.com/.
About IPN Communications, Inc.
IPN Communications, Inc. is a provider of voice over Internet protocol (VoIP)
telephony products and services. The company targets consumers and business
users on a worldwide basis who seek to reduce communication costs. IPN's
product suite includes USB and Ethernet based VoIP phones, IP Phone adapters,
videophones, and turnkey servers that support in-network VoIP calling and VoIP
to public-switch telephone networks (PSTN). For more information about IPN
Communications, please visit http://www.ipncom.com/.
This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, regarding, among other things, our plans,
strategies and prospects, both business and financial. Although we believe
that our plans, intentions and expectations reflected in or suggested by these
forward-looking statements are reasonable, we cannot assure you that we will
achieve or realize these plans, intentions or expectations. Forward-looking
statements are inherently subject to risks, uncertainties and assumptions. Many
of the forward-looking statements contained in this news release may be
identified by the use of forward-looking words such as: believe, expect,
anticipate, should, planned, will, may, intend, estimated, and potential, among
others. Important factors that could cause actual results to differ materially
from the forward-looking statements we make in this news release include market
conditions and those set forth in reports or documents that we file from time
to time with the United States Securities and Exchange Commission. All
forward-looking statements attributable to DataLogic International or a person
acting on its behalf are expressly qualified in their entirety by this
cautionary language.
Contact Information:
Donna Dolan
Investor Relations
949-260-0120 ext 204
DATASOURCE: DataLogic International, Inc.
CONTACT: Donna Dolan, Investor Relations of DataLogic International,
Inc., +1-949-260-0120, ext. 204,
Web site: http://www.ipncom.com/
Web site: http://www.dlgi.com/