American Diversified Group - ADGI - and its Affiliate, Global Transmedia Communications Corp. - GTCC - Announce Merger Plans
BusinessWire, Monday, August 31, 1998 at 12:03
HICKORY, N.C.--(BUSINESS WIRE)--Aug. 31, 1998--ADGI
(NASDAQ BB:ADGI) announced Monday that it has signed an agreement to acquire its telecommunications affiliate, GTCC. GTCC provides both Internet telephony services achieving high quality, real time voice communications over the Internet utilizing the latest in advanced analog to digital conversion, data compression, packet reconstruction and echo cancellation techniques and on-hold media services for both corporations and telephone companies utilizing the latest Algorithm and digital telephony technology. Under the agreement, ADGI will acquire 80% controlling interest in GTCC and integrate GTCC's service into the telecommunications services already offered by ADGI. ADGI will now have a global reach for its telecommunications network as GTCC and its equipment supplier, Innomedia Inc. have now tested their Voice over Internet Service Provider (ISP) in North America, Latin America, the Middle East and the Far East. Through Innomedia's technology GTCC will be able to operate its Internet calling services all over the world through its base in Miami. GTCC has added additional upgraded services to its corporate calling network (CCN) and individual calling network (ICN). GTCC will sell calling minutes, which can be utilized from anywhere in the world simply by using the subscriber's access code and password. By having GTCC's Miami gateway as the access to long distance calling, subscribers will be able to make calls anywhere in the system for a very small fraction of their regular calling rates. For further information, ADGI's Broadcast Fax System provides ADGI Information (releases, newsletters, shareholder updates) and is accessible to all ADGI shareholders via fax. To become part of ADGI's Broadcast System, please contact ADGI's Investor Relations Office at 212/332-5009 or by fax at 212/332-3249. Global Transmedia Communications Corp. may be reached at 305/620-2577.
CONTACT: American Diversified Group
Investor Relations Office
Tel. 212/332-5009
Fax 212/332-3249
or
Global Transmedia Communications Corp.
305/620-2577
KEYWORD: NEW YORK FLORIDA NORTH CAROLINA
INDUSTRY KEYWORD: COMED TELECOMMUNICATIONS
INTERACTIVE/MULTIMEDIA/INTERNET MERGERS/ACQ
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Companies or Securities discussed in this article:
SymbolNameBB:ADGIAmerican Diversified Group Inc
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