Empower Technologies Corporation, a company that provides technology solutions, recently announced that TSX Venture Exchange has given company the final approval to acquire AIC Global Communications Inc., a wholly owned subsidiary of Y2K Investment Inc.

Founded in 1992, AIC Global Communications provides retail telecommunication products and services to the Canadian market, as well as wholesale bi-lateral long distance traffic termination service for national and international telecommunications carriers. Its products include legacy PSTN and VoIP based Long Distance telephone services, ADSL and Cable internet access services. It is currently expanding its services into the business VoIP market, targeting small to medium-sized enterprises.

Empower Technologies as a group caters to security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. Under the Empower Group, the Company has three operating divisions - Empower Embedded Engineering, Empower Imaging Laboratories and Empower Defense Systems. With the acquisition, Empower will be able to expand its operations in the Asian Canadian market and has gained a sales and marketing platform for its embedded and video technologies, products and services, and a telecommunication operating system platform.

"This is an exciting time for AIC. Our brand equity is very strong and the Company is on track to become a dominant, preferred and reliable one stop telecommunications and IT solutions provider. Empower gives us the ability to access growth capital and to leverage our complementary technologies and expertise," said Victor Fung, CEO of AIC, in a statement. "This is the best revenue generating asset we have ever encountered. AIC will provide Empower Group with an immediate revenue surge, a very strong brand, and a sales and marketing platform for Empower to leverage and to sell Empower's core embedded and video technologies. Empower also has ready access to growth capital to ensure AIC has sufficient working capital to fuel its rapidly growing VoIP phone and managed business solutions market. This is a win-win transaction for Empower and the Vendor stakeholders," said Paul Leung, CEO of Empower Group, in a statement.