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TeleServices International Group Reaches Agreement to Proceed With
MusicCard Products
February 12, 1999 04:23 PM
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Feb. 12, 1999-- TeleServices
International Group Inc. TSIG , a provider of outsourced teleservices and music
CDs through the Internet, announced today that it had terminated its agreement to
acquire the assets of Compact Connection, Inc. (CCI), a Nevada corporation, and
reached agreement to proceed to market and sell MusicCard products on its own.
Under the agreement, TSIG will be able to market, distribute and sell pre-recorded
music and related products using the name MusicCard through any and all
means, including TSIG's teleservice center, independent distributors, and through
TSIG's e-commerce web site on the Internet. TSIG operates its MusicCard
business through My MusicCard Company, a wholly-owned subsidiary.
Early in 1998, TSIG had announced its intention to acquire the assets of CCI,
subject to the completion of an audit of CCI's books and a complete due diligence
review. CCI, a privately held company, was unable to provide audited financial
statements. As the result of TSIG's substantial investments in anticipation of
completing the asset purchase, the parties agreed that the pending acquisition
would be terminated and that TSIG could proceed without restriction to continue to
develop its MusicCard business.
TeleServices International Group Inc. is a provider of fully integrated global
teleservices to companies focused on selling products and services through
toll-free numbers and the Internet. Visit TeleServices web site at
stockprofiles.com, or e-mail info@tsig.com. |
