News - Acquisition of TWC Direct
Clariti Telecommunications International Acquires TWC Direct; Triples IP Revenues -- Strengthens Distribution Network with 47,000 New Points of Distribution
PHILADELPHIA--(BUSINESS WIRE)--Dec. 23, 1999--Clariti Telecommunications International, Ltd. (OTC: CLRI) today announced that it has acquired Tekbilt World Communications, Inc., d.b.a. TWC Direct, ("TWC"), a Warminster, Pennsylvania based distributor of telecom products and services including; 1+ long distance and toll free services, prepaid calling cards, postpaid calling cards, prepaid cellular and e.telecom. TWC had revenues of approximately $8 million over the last twelve months. Specific terms of the acquisition were not disclosed.
Ronald R. Grawert, Chief Executive Officer of Clariti, said, "The addition of TWC more than triples the revenues of our IP Division to approximately $12 million. TWC will provide us with an extensive, well established network of more than 47,000 points of distribution.
We will be able to increase the volume of traffic over our managed IP Network then leverage this network and use it as a springboard as we introduce new products such as IP telephony, Internet access services, and our patented wireless voicemail system."
Joseph A. Smith, Executive Vice President - Operations of Clariti, added, "In addition to its vast distribution network, TWC's e-commerce technology will bring a number of additional applications that we believe will allow us to provide our customers with a broader range of services including the ability to purchase prepaid service and service upgrades, either over the Internet or through a single phone call. We believe these added features will save both Clariti and our customers time and money."
Carl A. Saling III, of TWC added, "Since TWC began operating five years ago, we have consistently achieved triple digit growth rates. Clariti offers so many opportunities for us to further grow our business and continue our strong record of improvement. Our debit calling card business and our proprietary prepaid cellular technology platform have very strong and potentially exponentially profitable applications for Clariti's growing line of products and services. The synergistic opportunities that this union creates will enable us to more rapidly ramp up our sales and profits."
About Clariti Telecommunications
Clariti Telecommunications International, Ltd. is a diversified international telecommunications company headquartered in Philadelphia, PA. Clariti's leading-edge businesses offer a wide variety of products and services in the four key areas of telecommunications: Voice, Data, Internet, and Wireless. Clariti is integrating its services using next-generation network technologies to offer advanced solutions at lower costs than traditional networks. Clariti is utilizing its state-of-the-art VoIP (voice over IP) network to deliver low-cost, high quality domestic and international voice and fax communications, dial-up and dedicated high-speed Internet access, web hosting, and E-commerce solutions. Clariti is also developing the ClariCAST(TM) Wireless Voicemail System, a patented digital wireless system that combines attributes of pagers, mobile phones, and voicemail into a single small, portable device. Clariti markets its products and services to customers in rapidly growing telecommunications markets such as Latin America, Asia, Australia, the Middle East, and the U.S.
More information on Clariti and its products and services can be found on the World Wide Web at clariti.com. Special Note Regarding Forward-Looking Statements....... |
