(DWVSF) DataWave Signs Memorandum Of Understanding With Lipman USA
VANCOUVER, British Columbia, Feb 14, 2000 (BUSINESS WIRE) --
DataWave(CDNX:DTV) (OTC Bulletin Board:DWVSF)
DataWave Systems Inc. and Lipman USA announced today that they have
signed a Memorandum of Understanding to form a joint venture
(fifty/fifty) to develop and market ATM and point of sale activation
systems. The joint venture will take DataWave and Lipman current
technologies and integrate them to produce new systems. These systems
will be owned, marketed and placed through the joint venture.
"Working with Lipman will present many exciting opportunities for
DataWave. Lipman's extensive experience and first class world-wide
reputation will benefit DataWave both in North America and in
international markets," said Josh Emanuel, DataWave President & CEO.
Mony Zenou, President of Lipman USA, said, "DataWave's technology and
distribution channels complement the Lipman product line. Integration
of our technologies will provide additional opportunities through ATM
and point-of-sale activation systems to introduce cash dispensing,
prepaid products and advertising to new markets. We look forward to
working with DataWave to secure and expand on our leadership position
in the point of sale marketplace."
About Lipman USA Lipman USA Inc. (http://www.lipmanusa.com/ ) is a
subsidiary of Lipman Electronic Engineering Ltd.
(http://www.lipman.co.il/ ). Founded in 1974, Lipman Electronic
Engineering Ltd. is a high technology publicly held company, with its
shares traded on the Tel-Aviv Stock Exchange (TASE). Lipman Electronic
Engineering Ltd. is a leading global company involved in the
development, production and marketing of a broad range of point-of-sale
(POS) terminals, smart cash registers, peripherals and "tailor-made"
electronic transaction software.
Lipman USA is the primary distributor and software developer of the
Nurit product line and is the leader in selling wireless point-of-sale
terminals to the North American marketplace. Its products offer a
simple and quick interface for EDC (Electronic Data Capture) and POS
applications for numerous third party providers. Electronic payment
applications serve business areas such as retail, restaurants, address
verification (AVS), electronic benefits transfer (EBT), medical
eligibility verification and private label programs.
About DataWave DataWave designs, develops, produces, owns and manages a
proprietary, intelligent, automated direct-merchandising network known
as the DataWave System. The Company uses the DataWave System to
distribute prepaid calling cards. The DataWave System is comprised of
DataWave Merchandisers (DTMs), which are free-standing intelligent
machines capable of dispensing multiple prepaid products, and
over-the-counter "swipe" units (OTCs) for point-of-sale prepaid
retailing. Both of these are connected to the Company's proprietary
communications gateway and database software through a wireless and/or
land line wide area network. The first DTM was placed early in 1996 and
the first OTC device later the same year. During this implementation
and roll out, DataWave's intelligent DTM concept has proven to be
successful in winning major accounts in the United States prepaid
calling card market.
On Behalf of the Board of Directors
DataWave Systems Inc.
John Gunn, General Manager, CFO
This news release may include statements that constitute
forward-looking statements. Please be cautioned that any such
forward-looking statements are not guarantees of future performance and
involve significant risks and uncertainties, and that actual results
may vary materially from those in the forward-looking statements as a
result of any number of factors, including the risk factors contained
in the Company's disclosure documents.
"DataWave" together with design is a registered trademark of the
Company.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: DataWave Systems Inc.
John Gunn, 604/709-5116
604/874-1503 (FAX)
Email: info@datawave.ca
Website: datawave.ca |
