Carnegie International Corporation to Acquire Voice Quest, Inc.
BALTIMORE--(BUSINESS WIRE)--Oct. 19, 1998--Carnegie
International Corporation (OTC: BB CAGI) announced today
that it has reached an agreement to acquire Voice Quest, Inc., of
Sarasota, Florida, a developer and provider of speech recognition
and voice mail technologies and products. Financial arrangements were not announced.
Lowell Farkas, Carnegie's president and CEO said ''technological advancements created by Voice
Quest, particularly in adding valuable features to voice mail, will compliment and significantly
strengthen our already strong MAVIS(tm) automated attendant and voice messaging system.''
E. David Gable, Carnegie's chairman and COO agreed, saying ''the addition of Voice Quest's
software engineers to our existing staff should speed development of system enhancements for future
product releases.''
Carnegie International Corporation (OTC: BB CAGI) is a holding company specializing in telephony
and telecommunications products, services and distribution. Its MAVIS(tm) (Multi-Language
Automated Voice Independent System) is a breakthrough in speech recognition-driven automated
attendant/ voice mail systems, using proprietary IVR (interactive voice response) software to
recognize/respond to callers. The entirely voice-driven MAVIS interface is available in English and
all foreign languages supported through licensed Lernout & Hauspie (NASDAQ: LHSPF - news)
software, and supports Dialogic (NASDAQ: DLGC - news) CPU telephony cards. Carnegie's
primary wholly-owned subsidiaries include: Profit Through Telecommunications (Europe) Ltd.
(PTT), a telecommunications software company providing business solutions utilizing proprietary
speech recognition, touch tone and bar code responses to send and/or receive information; Talidan,
a reseller marketing telephone time and information at discounted rates in Europe, South America,
and other emerging markets, and ACC Telecom of Columbia, Maryland, a leading reseller of
equipment and business telephone systems from Comdial (NASDAQ: CMDL - news), SONY(R)
(NYSE: SNE - news), Bell South (NYSE: BLS - news) and Sprint(R) (NYSE: FON - news). For
the first half of fiscal 1998 ended June 30, Carnegie reported total income of $8.9 million and
after-tax basic earnings per share of $0.075. For fiscal 1997, Carnegie reported total income of
$6.9 million and after-tax basic earnings per share of $0.07. |
