Clariti Telecommunications International Acquires NKA Communications Pty. Ltd.
Acquisition of Australian IP Service Provider Expands Clariti Network to the Asia-Pacific Region
PHILADELPHIA--(BUSINESS WIRE)--May 20, 1999-- Clariti Telecommunications International, Ltd. (OTC:CLRI-news) today announced that it has signed a definitive agreement to acquire NKA Pty, Ltd. (''NKA''), an Australian based provider of Internet Protocol (''IP'') telephony to corporate clients. Specific terms of the acquisition were not disclosed. The acquisition is expected to be completed in the coming quarter and is subject to due diligence and other conditions.
NKA was formed in 1998 by Peter Cook and telecommunications professionals with broad-based experience in the Australian and Asian markets. NKA utilizes ECI Telecom's Hi-Gate IP Telephony product line and is currently connected to the IP Network run by Megahertz-NKO, which Clariti acquired earlier this month. NKA's current business is 100% focused on the corporate sector of the Australian market. NKA has plans to extend its network reach to several Asian markets beginning in the fourth quarter of fiscal 1999.
Peter S. Pelullo, Chairman and Chief Executive Officer of Clariti, said, ''We are delighted that NKA has agreed to become a part of the Clariti team. NKA's experienced, focused management team has an extensive knowledge of and relationships in the Asian markets. Together with Megahertz-NKO, our ISP and IP Telephony subsidiary, NKA will aggressively grow the Clariti IP Network throughout the Asia-Pacific region. It is our intention to offer Next Generation end-to-end wired and wireless products to corporate clients and consumers on six continents, utilizing our global IP network. This highly Synergistic acquisition, brings us another step closer to realizing our vision of becoming a global telecommunications company.''
Peter Cook, Managing Director of NKA added, ''We are very excited about bringing our experience in the Asian telecom market to Clariti. Our vision in starting NKA was to bring real Next Generation value added telecommunications services to corporations and consumers in the Australian and Asian markets. This led us to the ECI Hi-Gate IP Telephony product as the solution and Megahertz-NKO as the partner to bring that solution to market. Now with NKA joining Megahertz-NKO as part of Clariti it's really all coming together. We are looking forward to helping Clariti become the premier value-added network
provider in the world.''
Clariti Telecommunications International, Ltd, is a diversified international telecommunications company headquartered in Philadelphia. In addition to their IP Telephony and ISP business Clariti has two other divisions GlobalFirst and Clariti Wireless Messaging. GlobalFirst provides diversified telecommunications services, including domestic and international long-distance, pre-paid mobile phones and calling cards, primarily in the United Kingdom and France. Additionally, Clariti is currently developing the ClariCAST (TM) Digital Voice Messaging System, the world's first low-cost high-speed digital voice Messaging system. The ClariCAST (TM) system combines a full-featured voice mail system with wireless voice pagers. This patented communications technology uses FM subcarrier frequencies, so it can be quickly and inexpensively installed in any city where FM radio towers exist. Clariti plans to market its voice messaging service worldwide, including rapidly growing wireless telecom markets such as Europe, Latin America and the U.S. More information on Clariti and the ClariCAST (TM) Digital Voice Messaging System can be found on the World Wide Web at clariti.com
Special Note Regarding Forward-Looking Statements: This press release contains certain forward-looking statements, including statements about Clariti's growth prospects, the ability to expand its telecom business and market share at a lower cost, the use of NKA's infrastructure, the synergies and advantages of the NKA acquisition, that involve risks and uncertainties. Factors that could cause or contribute to such risks and uncertainties include, but are not limited to, general economic and business conditions, changes in telecommunications regulations, changes in consumer demand for telecommunications products, the continued growth in the Internet demand usage, acceptance of Internet Telephony, and various other factors beyond the control of the companies. This includes such factors as described from time to tome in the SEC reports filed by Clariti Telecommunications International, Ltd., including the most recently filed form 10-KSB.
Contact:
Clariti Telecommunications International, Philadelphia
Peter S. Pelullo, Chairman & Chief Executive Officer
215/425-8682
or
Morgen Walke, New York
Investor Relations:
Cheryl Schneider/Hulus Alpay/John Blackwell
Press: Michael McMullan/Jamie Kohn
212/850-5600
biz.yahoo.com
CLRI closed at 2 3/4's yesterday. The stock has very good support right at this level.
Regards, Jeff |
