Tech consulting company DataLogic International Inc. just announced that it entered into an agreement to purchase the remaining 49 percent interest in its subsidiary, IPN Communications Inc. to make it a wholly owned subsidiary.
IPN Communications provides VoIP telephony products and services to consumers and to businesses seeking to reduce communications costs. IPN's product suite includes USB and Ethernet based VoIP phones, IP Phone adapters, videophones, and servers that support in-network VoIP calling and VoIP to public-switch telephone networks (PSTN). DataLogic acquired its initial interest in IPN Communications in June last year.
"DataLogic's decision to acquire full ownership of IPN was driven primarily by our interest in accessing the very large consumer market for VoIP services, and we expect that this goal will be best achieved with IPN as a wholly owned subsidiary. This transaction represents an excellent opportunity for DataLogic as we continue to develop our business strategy to capitalize on our strengths in the IT and communication arenas," said Derek Nguyen, DataLogic's CEO.
According to the agreement, DataLogic will be purchasing the remaining interest of IPN with DataLogic’s common stock. Michael Wu, IPN Communication's founder and CEO, will remain as CEO. "We are very happy to complete the blending of our product and technology expertise under DataLogic's expanding business model. We will work side-by-side with DataLogic to grow brand awareness and recognition in the business community and retail arena," said Michael Wu, IPN's CEO.
DataLogic International Inc.
www.dlgi.com
IPN Communications Inc.
www.ipncom.com
| Johanne Torres is contributing editor for TMCnet.com and Internet Telephony magazine. Previously, she was
assistant editor for EContent magazine in Connecticut. She
can be reached by e-mail at jtorres@tmcnet.com. |
|
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[November 5, 2004]
