We are over $10!!!!!!! On this news:
eGlobe and IDX Founder Form i1.com
Company to Offer eGlobe Services to Asian Businesses
WASHINGTON, Jan. 7 /PRNewswire/ -- eGlobe, Inc. (Nasdaq: EGLO) announced today that it had joined Hsin Yen, founder of IDX International, in forming a
new company, i1.com. The company will specialize in providing business-to-business eCommerce solutions in Greater China, and other countries in East Asia,
including Singapore, which will be a major market. i1.com plans to launch its services in the second quarter of 2000.
i1.com will develop a distributed network of eCommerce applications that will allow small-and medium-sized businesses to easily and cost-effectively transact
business over the Internet. The company will provide complete back-office support for companies seeking to expand their sales and distribution channels through a
presence on the worldwide web. eGlobe will provide i1.com's IP-based network infrastructure, its transaction processing technology and its Internet-enabled
applications. These applications include interactive web response services, IP voice and fax, and unified messaging.
eGlobe presently holds a 75 percent stake in i1.com. Christopher Vizas, eGlobe's Chief Executive Officer, in speaking of the new company, states, "Hsin Yen
founded i1.com because he recognized a great need in the Pacific Rim for a business-to-business eCommerce solutions provider. As part of i1.com, eGlobe will
furnish the tools and infrastructure necessary to bring Asian businesses together over the Internet. We are happy to be part of this exciting enterprise." Vizas will serve
as initial Chairman of i1.com's Board of Directors.
i1.com President and Chief Executive Officer, Hsin Yen adds, "Our mission is to be an Asian provider with a local presence, local management and significant local
ownership. With eGlobe's support, knowledge of the Asian market and, most importantly, its growing IP network, we are well positioned to succeed."
Yen founded and was instrumental in the development of eGlobe's IP network subsidiary, IDX International, now eGlobe's Network Services division. At IDX, he
established the company's Voice over IP (VoIP) packet switching network transmission business and formed key strategic relationships that have resulted in
eGlobe's strong presence in the Pacific Rim.
eGlobe is a leading supplier of global telecommunications and information services, including Voice over IP, Telephone Portal and Unified Messaging Services, other
international Internet and inter-networking services, and calling card services, along with related validation, billing and payment systems. eGlobe operates in
partnership with telephone companies and ISPs around the world. Through its World Direct network, eGlobe originates traffic in 90 territories and countries and
terminates anywhere in the world. eGlobe provides its services principally to large national telecommunications companies, to ISPs and Portals, and to financial
institutions.
Certain statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve
known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from
the results, performance or achievements expressed or implied by the forward looking statement. Factors that impact such forward-looking statements include,
among others, the ability of the Company to attract additional business, the ability of the Company to successfully integrate acquisitions and mergers, complete
software development and offer new products, changes in expectations regarding restructurings, including tax liabilities and reductions in cost, possible changes in
collections of accounts receivable, risks of competition, price and margin trends, changes in worldwide general economic conditions, changes in interest rates,
currency rates and worldwide competition.
SOURCE: eGlobe, Inc.
CONTACT: Allen Mandel, Senior VP Corporate Affairs of eGlobe, Inc., 800-688-0092; or John Heilshorn, 212-838-3777, or john@lhai.com, or Kris Otridge, 415-433-3777, or
kris@lhai-sf.com, both of Lippert/Heilshorn & Associates, for eGlobe, Inc. |
