Thursday April 6, 8:08 am Eastern Time
Company Press Release
Board of Directors of Data Exchange, Inc. Give Approval to Global TeleMedia Offer of $45 Millon
Data Exchange Will Become a Wholly Owned Subsidiary of the Company Providing Gtmi With Two Software Labs, One in Richardson, Texas and One in Darwin, Australia
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--April 6, 2000-- Global TeleMedia International, Inc. (OTC: BB: GTMI) President, Jonathon Bentley-Stevens, announced today that the Board of Directors of Data Exchange, Inc. (DEI) has approved the GTMI majority shareholders cash and stock offer of acquisition on behalf of the Company. The agreement will be finalized upon the approval vote of the shareholders of each company.
Global TeleMedia President, Jonathon Bentley-Stevens, said, ``We are extremely pleased that the DEI Board is in agreement with our offer. We are acquiring an innovative company with a forward thinking team of professionals that are the 'best in breed`` of any technology company today. By acquiring Data Exchange, Inc., we have trimmed nearly a year from our plans to build a team of industry specialists who not only understand the products, and the market, but who also have a wealth of experience having 'done all this before.`` The DEI management team collectively has over 100 years of experience in the telecom/technology industry with each of them having held senior positions with industry leaders such as NORTEL, Sprint, and MCI.'
He continued, ``Initially Ken Heffner agreed to become CTO of GTMI to advise and supervise the deployment of DEI's MessagePilot(TM) as outlined in our previously announced co-marketing agreement for this product. After seeing the direction of the company and working with the President of BentleyTel.com (Australia), the relationship between these industry specialists developed into an opportunity to combine the companies and become more powerful than two separate companies merely working together'.
Global TeleMedia COO, John Walsh, said, ``The excitement generated during the New York Technology Conference was incredible. When each of the presidents of the BentleyTel subsidiaries presented their rollouts and market strategies for their respective markets, the senior executives of DEI present at the conference were able to see the synergy and understood that with such a team working as one we could be a dominant force in the Pacific Rim Countries.
``Global TeleMedia will have a proven team that has been successful at the forefront of the telecom/technology explosion and been involved in its revolutionary transformation into the fast-paced, highly competitive arena it is today. With this team in place, we are the best prepared with a truly global, unified, and integrated messaging platform that combined with a SmartCard, will dominate the markets in the Pacific Rim.'
The Data Exchange, Inc. Team - President & CEO, Chairman of the Board of DEI, Ken Heffner
formerly Nortel Vice President & General Manager. Also held
senior level positions at MCI, ITT, and Sprint. - Sr. Vice President, Marketing, Annette Gieseman, formerly Vice
President and General Manager, Nortel Intelligent Networks. Also
held senior level position at Teleport Communications Group in
New York. - Chief Administrative Officer, Mark Wolfson, formerly a Vice
President Finance at Nortel Networks. Previous experience
included positions at Xerox Corporation and Standard Oil of
Indiana. - Chief Technical Officer and Board Member, Michael Heffner,
formerly with Motorola. Also held positions with BNR (former
Nortel Networks research and development subsidiary), Honeywell,
consultant to DSC/Alcatel, and Logica-Aldiscon. - Board Member, Herbert E. Welch, Ph.D. Responsible for
preparation of Network Imaging Corporation IPO. Senior VP and CTO
of NISC, Director of Viewcast.com, Founder DGI Technologies,
Chairman and CEO of Telling Systems now part of ADC Telecom.
Former executive of Rockwell International, Sprint. Dr. Welch also
holds several patents and has many publications in scientific
and industry journals. - Board Member, Roger Klotz, CTO Virtual Information Systems,
former Nortel Networks executive in the $1.4B Enterprise Networks
and Carrier Networks divisions. - Board Member, Keith Henderson, CEO of Virtual Information
Systems over 19 years with GEC, Plessey Communications, Alcatel,
and Timplex. - Board Member, Ellen J. Heffner, formerly Principal with
Carreker-Antinori, Inc., a leading banking/financial consulting
firm. Also held senior positions with Frito-Lay (corporate
headquarters), and RepublicBank, N.A. (predecessor of
NationsBank, N.A.) - In addition, DEI has successfully attracted a group of highly
skilled and motivated software architects and designers who are
focused on MessagePilot TM and other value added services.
Global TeleMedia International, Inc., located in Newport Beach, California, through its BentleyTel.com subsidiary, (www.bentleytel.com) is a leading developer of interactive software for complex E-commerce solutions, multi-media and high speed Internet and wireless communication systems, including international & long distance Voice over IP, LAN VPN (Virtual Private Network), ISP, Virtual ISP, and PC-PC, PC-Phone transmission of data and voice. It also owns manufacturing and, telecom, ISP, and software development facilities in Australia, Malaysia and the Philippines.
This press release contains forward-looking statements. All such statements involve risks and uncertainties, including, without limitation, the risks detailed in Global TeleMedia's filings and reports with the Securities and Exchange Commission. Such statements are only predictions and actual events or results may differ materially.
This release and prior releases are available on the KCSA Public Relations Worldwide Web site at www.kcsa.com.
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Contact:
KCSA Public Relations, New York
Robert Giordano/Daniel Stepanek
(212) 896-1289/1202
rgiordano@kcsa.com / dstepanek@kcsa.com
www.kcsa.com
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More Quotes and News: Global Telemedia International Inc (OTC BB:GTMI.OB - news)
Related News Categories: computers, internet, networking, publishing, software, telecom
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