OTCBB FTEL
For Immediate Release
January 30,1997
FRANKLIN TO ACQUIRE INTERNET PASSPORT
Westlake Village, CA. & Atlanta GA.> Franklin Telecom announced today that it has
signed a letter of intent to acquire Internet Passport (IP), subject to Board approval of
both companies. Internet Passport offers a variety of high end Internet business
products and services which are only available through Internet Passport. These include
satellite Internet access products as well as other high speed and satellite oriented
products. These products and services will enhance the capabilities of FNet, Franklin's
Internet division. Internet Passport will maintain and expand its current headquarters in
Atlanta.
According to Frank Peters, president and CEO of Franklin Telecom, "We see this
acquisition as a significant move toward expanding our infrastructure which, from the
outset, has been directed toward business clients who require extremely sophisticated
high speed Internet and Intranet configurations. We currently offer hardware solutions
through Franklin Telecom. Now, with the additional capabilities of our combined
companies, we will be able to offer a total high-speed solution via Satellite. When we
integrate the Internet Passport network operations center (which includes Internet
Passport's redundant satellite uplink centers and receiving equipment) with the FNet
network we will create a completely redundant network which will insure reliability and
bring us even closer to our philosophy of 'no busy'."
Sparrow Marcioni, president and CEO of Internet Passport, will continue as the CEO of
IP and accept a position as Vice President of Franklin.
According to Marcioni, "Internet Passport specializes in offering solutions that allow
Internet access providers and corporations to address their high bandwidth needs and
expand their product offering to the Internet community. I strongly believe that these
products and services in combination with Franklin Telecom and FNET products will
place us ahead of most Internet oriented companies today. We intend to continue
developing new Internet products and services that allow our customers to maintain that
advanced position for years to come."
Internet Passport, founded in 1991, provides private communications networks as well
as Internet for high speed LAN access via Satellite plus Group Software.
More information can be obtained by contacting Helen West, Shareholder Relations, at 805-373-8688.
Franklin Telecom, founded in 1981, designs and manufactures communications devices and software.
Franklin has an installed base of over 100,000 nodes. Franklin is traded on the Over The Counter Market
as "FTEL". |
