Voice-on-the-net (VON), VoIP, Internet (IP) Telephony Message Board

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Technology Stocks : Voice-on-the-net (VON), VoIP, Internet (IP) Telephony

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To: Stephen B. Temple who wrote (1829)	11/11/1998 6:11:00 AM
From: Stephen B. Temple	Read Replies (1) of 3178

SecurFone America Agrees to Sell Selected Prepaid Wireless Assets to TeleData World Services for Cash and Notes of $2 Million and Convertible Preferred Stock November 11, 1998 SAN DIEGO--(BUSINESS WIRE) Company to Focus on Core Businesses: Internet Telephony and Global Wireless System Engineering SecurFone America Inc. (OTC/BB: "SFAI") Tuesday announced signing a Letter of Intent with TeleData World Services Inc. (OTC/BB:"TWOS") in which TeleData will acquire the rights to SecurFone's Network Services and handset solution prepaid wireless products. Building on the planned acquisition of SCIES Inc., announced last June, SecurFone will focus on its other core businesses namely Internet telephony products and services and engineering large-scale global wireless systems. Total value of the transaction was not disclosed. "The confluence of wireless and IP technologies are part of the natural evolution of the information marketplace," said Paul B. Silverman, recently appointed CEO of SecurFone America. "Capitalizing on SCIES telephony expertise and our wireless services capabilities, we intend to grab hold of the leadership position in the high-potential Internet telephony sector." By the year 2005, total global voice traffic over IP networks is projected at about 750 billion minutes, up from 450 billion minutes today. Internet telephony is expected to handle 25 percent of this traffic, up from about one percent today. SecurFone's other core competency, provisioning large scale global wireless systems, responds to the growing need for wireless system engineering, support and implementation of global turnkey telecommunication systems. "SecurFone's growth strategy will be driven by both sales and acquisitions," said Silverman. The proposed transaction includes notes and cash of $2.0 million and convertible preferred stock. Total value of the transaction was not disclosed. "The acquisition of SecurFone assets is viewed by TeleData as a significant opportunity to complement and expand our current prepaid wireless offering," said Tony Cullen, President and Chief Operating Officer for TeleData World Services Inc. "We believe the integration of the SecurFone prepaid wireless assets into our existing operations will enable us to achieve our goals for national service deployment on an accelerated basis."

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