here's another version of press release
DataWave and Cardcaller Canada Join Forces to Become the Largest Independent Supplier of Prepaid Calling Cards in Canada
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 11, 1998-- DataWave Systems Inc. (VSE:DTV. - news; OTC Bulletin Board:DWVSF - news), manufacturer of the world's only intelligent prepaid calling card dispensers, announced today that it has entered into a definitive agreement with DCI Telecommunications, Inc., (OTCBB:DCTC - news) an international supplier of telecommunication services and the parent company of Cardcaller Canada Inc., to create a joint venture for the marketing, sale and service of prepaid long distance telephone calling cards in Canada.
This new joint venture will create Canada's single largest independent entity devoted solely to the sale of prepaid calling cards. With combined revenues of over $12 million (CDN) the joint venture will control more than 40 percent of the Canadian marketplace. The joint venture will be twice as large as any other company in Canada that is dedicated to the sale of prepaid calling cards.
According to the agreement, both companies will contribute all existing Canadian business to the joint venture. Until now, DataWave's Canadian business has been transacted through Phone Line International (PLI) Inc., a 100 percent owned subsidiary of DataWave. PLI retails prepaid calling cards in over 800 locations throughout Canada.
Commenting on this exciting new partnership, Charles Zwebner, President of Cardcaller Canada, noted that ''DataWave's technology was extremely compatible with our needs, adding a powerful new dimension to the services that we offer our customers.'' Based in Toronto, Cardcaller Canada was the first company to introduce prepaid calling cards to the Canadian marketplace. The company operates its own switching platform, and retails its product under the ''Cardcaller'' name in over 2,500 retail locations.
Card Caller Canada is a 100 percent owned subsidiary of DCI Telecommunications Inc., a publicly traded company based in Stratford, Connecticut. ''By joining forces, this new joint venture will become more competitive in the market place and aggressively pursue greater market share'' ... said Joseph Murphy - President & CEO of DCI.
DataWave's state-of-the-art Telecard Merchandisers (DTMs) and Over-The-Counter Devices (OTCs) are intelligent electronic merchandising systems with a propriety real-time feature called Point-of-Sale Activation. The calling cards in the dispenser have no value until credit or cash payment is made, at which time the calling card is automatically activated to the specified denomination. This eliminates costs associated with inventory control. DataWave currently distributes its prepaid products in over 2,500 retail locations in Canada and the United States and has recently signed an agreement with AT&T in the United States.
Both DataWave and Cardcaller Canada are confident that this joint venture represents the most efficient and cost-effective strategy for on increasing market share while consolidating and acquiring other prepaid calling card companies. This, in turn, will allow us to offer consumers an improved product through more efficient streamlined service operations.''
increasing market share and consolidating the fragmented Canadian marketplace. According to Clive Barwin, CEO and President of DataWave, ''The Canadian marketplace offers significant opportunities for growth. This new partnership will allow us to aggressively focus
samir |
