Hi All;
INTA -news
Wednesday May 12, 8:00 am Eastern Time
Company Press Release
Intasys Forms Internet/E-Commerce
Investment
Two New Directors Appointed
TORONTO--(BUSINESS WIRE)--May 12, 1999--Stephen J. Roth, Chairman and Chief Executive
Officer of Intasys Corporation (the ''Company'') (Nasdaq:INTA - news), announced the formation of a
new subsidiary, Intasys Capital Corporation (''ICC''), a Delaware corporation. Through ICC, Intasys will
leverage its strong technical expertise and capital base to evaluate investment, joint venture and
acquisition opportunities in technologies and companies engaged entirely in Internet and e-commerce
activities.
ICC will concentrate primarily on software applications that have a direct synergy and strategic fit with,
and expand upon, the Company's core competency of billing, customer care and subscriber management
software solutions. As corporate policy, ICC will make investments in portfolio-type technology
companies that could eventually be spun off as public corporations or possibly sold as private entities.
ICC will serve, among other things, to expand the Company's product line in its telecommunications
software and e-commerce operations, and also provide the ability to integrate new products to be sold
though the Company's international sales and marketing network. Further, the formation of Intasys
Capital Corporation follows the recently announced formation of another subsidiary, Intasys e-Comm
Solutions, Inc., a Georgia corporation that will develop and market billing and customer care software
solutions for businesses engaging in e-commerce transactions over the Internet.
Initial financing for ICC will be provided by a portion of the proceeds of the equity private placement of
1,000,000 units at US $4.75 per unit that was announced on May 4, 1999.
Separately, Intasys announced the appointment of Claude Beauregard and Steve Saviuk, both of
Montreal, Quebec, to the Board of Directors of the Company, effective immediately. Mr. Beauregard and
Mr. Saviuk have also been added to the list of proposed directors to be elected at the Annual and Special
Meeting of Shareholders scheduled to be held in Toronto, Ontario on June 30, 1999. Mr. Beauregard and
Mr. Saviuk will head the ICC management team, with the former serving as President, Chief Executive
Officer and a director, and the latter serving as Executive Vice-President and a director.
Claude Beauregard, age 44, holds a degree in electrical engineering and has over 20 years experience in
the telecommunications industry at the technical, sales and marketing levels. In the early part of his
career, Mr. Beauregard worked for such industry leaders as Nortel Networks Corp. (formerly Northern
Telecom), where he served as director of marketing for its network access division.
In the past ten years Mr. Beauregard has specialized in the planning, creation and development of new
entrants into the telecommunications arena, the last seven years of which have been devoted to helping
build start-up companies for Telesystems Inc., a corporation headed by industry giant, Charles Sirois.
During this time he was involved in the preparation of the successful application by Microcell
Telecommunications Inc. for a national wireless telephone license in Canada. He was subsequently part
of the team responsible for the deployment of the infrastructure of their national network. Likewise, Mr.
Beauregard was the driving force behind efforts by Look Communications Inc. to obtain wireless cable
licenses in Ontario and Quebec. He later became Chief Technical Officer in the design, selection and
implementation of these networks. Moreover, Mr. Beauregard served as co-founder and chairman of
Spectra Telecom Inc., a joint venture between Charles Sirois' Telesystem Group and one of the world's
largest engineering firms, SNC-Lavalin. Spectra Telecom Inc. specializes in the deployment of Personal
Communication Systems (PCS) networks around the world.
Steve Saviuk, age 40, is a chartered accountant (CA or CPA in US terms) who formerly practiced with
KPMG. He has spent the past 12 years as a successful venture capitalist specializing in the strategic
planning, management and financing of telecommunications and software companies. In 1998, on behalf
of NSI Communications Inc. (''NSI''), a leading provider of satellite transmission equipment, Mr. Saviuk
was instrumental in negotiating the acquisition and arranging the Cdn. $15 million financing of the Satellite
Global Access division of Spar Aerospace Limited. As well, he provided the initial financing and strategic
planning for Wavesat Telecom Inc. (''Wavesat''), a global provider of amplifiers to the satellite, cellular
and PCS markets. Mr. Saviuk remains a board member of NSI and Wavesat, as well as other
telecommunications and software companies.
Mr. Roth commented: ''We are gratified to welcome Messrs. Saviuk and Beauregard to the Board of
Intasys. Their hands-on knowledge of the telecommunications industry, and particularly of the latest
applications of state-of-the-art Internet and e-commerce technology to this industry, will contribute
enormously to Intasys' growth. Under their management, we look forward to Intasys Capital Corporation
becoming a highly profitable addition to Intasys, as well as providing new markets and clients for our core
billing and customer care products.''
About Intasys
Intasys Corporation, offices in Toronto, Atlanta, Ottawa, London, Edinburgh, Sydney and Kiev, is an
emerging global force in the subscriber management industry. The company provides convergent
customer care and billing solutions on a bureau and license basis to clients in the wireless and wireline
telephony, cable TV, Internet, and energy industries. Its state-of-the-art, Year 2000 compliant systems
provide complete, convergent subscriber management and billing functionality with full Internet
integration. Further information on the company, its products and services is available at this address:
2475 Skymark Ave., Suite 4, Mississauga, Ontario, Canada, L4W 4Y6, or on the Internet at
www.intasys.com.
Statements contained in this press release which are not historical facts are forward-looking statements as
that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties that can cause actual results to differ materially from
estimated results. Such risks and uncertainties are detailed in the Company's filings with the Securities and
Exchange Commission. Any and all statements made regarding Year 2000 are hereby designated by
Intasys as ''Year 2000 Readiness Disclosure'' pursuant to the Year 2000 Information and Readiness
Disclosure Act.
Contact:
Intasys Corporation
Philip Davis, 404/888-9270
or
Intasys Corporation
Stephen J. Roth, 905/206-1255
More Quotes and News:
Intasys Corp (Nasdaq:INTA - news)
Related News Categories: computers, internet, software
Allan
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