Thursday January 6, 2:35 pm Eastern Time
Company Press Release
SOURCE: Rare Medium Group Inc.
Rare Medium Group Inc. Leads Investment Round in Quicknet Technologies, A Leading Provider of Low Density Internet Telephony Hardware
NEW YORK, Jan. 6 /PRNewswire/ -- Rare Ventures, the investment arm of Rare Medium Group Inc. (Nasdaq: RRRR - news), announced it has invested in Quicknet Technologies, Inc., a privately held Internet telephony company based in San Francisco.
Bringing the advantages of high quality, low cost Internet telephony technology to individuals, small businesses, mobile and remote computer users, Quicknet Technologies, Inc., is a leader in low-density Internet telephony products. The company supplies well-known service operators and suppliers, including Net2Phone and Lucent's AG Communications Systems division's iMerge Centrex over IP system. Quicknet's products include the award winning Internet PhoneJACK(TM) and Internet PhoneCARD(TM) hardware and the Internet SwitchBoard(TM) software for Windows and Linux PCs.
``The investment in Quicknet adds tremendous strategic strength to our Internet telephony business,' said Joshua Glantz, Director of Corporate Development of Rare Medium Group Inc. who has joined the Quicknet Board of Directors. ``This investment also adds value to Quicknet through the potential synergies with other telephony companies in our portfolio including iFace.com.'
``Bringing Rare Medium into Quicknet brings a diverse set of skills, expertise and contacts to Quicknet that will greatly aid our growth,' said Stacey Reineccius, president, chairman and chief executive officer of Quicknet Technologies, Inc. ``The complementary positions of Rare's Internet expertise, Rare's portfolio of Internet telephony companies and Quicknet's capabilities will open new channels and opportunities for both Quicknet and Rare's portfolio companies.' |
