IPVO news just out
IPVoice Communications Inc. Appoints Jim Rogers to Board of Directors of New Singapore Subsidiary Infotel Technology PTE LTD
11/11/2003 11:15:00 AM
Rogers to Expand Infotel's Existing US $5.5M Sales Forecast with Additional Sales in China
DALLAS, Nov 11, 2003 (BUSINESS WIRE) -- IPVoice Communications, Inc. ( IPVO ) ( ) today announced the appointment of Jim Rogers to the Board of Directors of its Infotel Technology (PTE) LTD subsidiary in Singapore. Mr. Rogers lives and works in Beijing and will lead IPVoice's business development in the region, utilizing his experience and all important professional relationships in the Chinese communications market. Infotel has extensive experience in the wireless communication market with solutions in Singapore for Siemens ( SI ), Motorola ( MOT ) and Philips ( PHG ). China is the world's largest mobile market with over 5 million new subscribers per month.
Philip Verges, Chairman and CEO of IPVoice, will meet with Mr. Rogers in December at Infotel Headquarters in Singapore to prioritize the existing sales pipeline in China.
Mr. Verges said "IPVoice continues to improve its market position to capitalize on the emerging global market for end-to-end communication enabled applications and services. Early Messaging and Mobile Payment products are beginning to make consumers and businesses aware of the overall potential for end-to-end communication enabled applications and services. Wireless communication devices are the entry point to an expanded fixed communication network. The growing demand for handheld applications will fuel the demand for advanced Internet Protocol (IP) applications on the fixed communication network. IPVoice has already entered the IP Centrex and Unified Messaging arena and will continue to branch into additional IP communication enabled application technologies through mergers and acquisitions."
Several research organizations, such as Allied Business Intelligence (ABI) and IDC, predict Voice over IP revenue will grow to $7 Billion to $9 Billion by 2008.
About IPVoice Communications Inc.
IPVoice is a six-year-old company that has reported as a research and development concern for most of its history. Just over one year ago, IPVoice launched a new business plan which has resulted in the Company posting four consecutive profitable quarters booking over $2 million in revenue. The Company is actively acquiring early-stage proprietary technology companies and financially distressed systems integration companies in specific global markets. In addition to the Infotel acquisition, which brought the IPVoice annualized revenue rate from $2 million to over $7 million, IPVoice recently announced the acquisition of IP Global Voice, an early stage emerging technology company led by CEO Peter Geddis, a former Executive Vice President and Chief Operating Officer of Qwest Communications ( Q ). IPVoice plans to acquire additional companies similar to Infotel and IP Global Voice.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the risks inherent in the integration of Infotel Technologies into IPVoice Communications, Inc. business, the ability of IPVoice to restore and stabilize the client base of Infotel and re-establish relationships with key suppliers, the development and market acceptance of the products and services of the combined companies, demand for the telecommunication and other products and related services, domestic and foreign government spending, budgetary and trade policies, economic and political changes in the domestic and international markets where the Company competes, successful deployment of advanced technologies, competitive product and pricing pressures as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: IPVoice Communications, Inc.
