ActiveCore Announces Acquisition of Twincentric Limited
2004年6月22日 - 11:15PM
PRニュース・ワイアー (英語)
ActiveCore Announces Acquisition of Twincentric Limited TORONTO,
June 22 /PRNewswire-FirstCall/ -- IVP Technology Corp. (OTC
Bulletin Board: TALL), d.b.a. ActiveCore Technologies, Inc.,
announced today that it has completed the purchase of all the
issued shares of Twincentric Limited, a privately held UK company
based near Oxford, UK effective June 21, 2004. The purchase price,
approximately USD 350,000, will be satisfied by issuance of
ActiveCore shares. Twincentric is a systems integration company
that specializes in products and services for large organizations
operating mainframe computer systems which need to support internet
and mobile applications. Twincentric has a large number of clients
including Honeywell, Ernst and Young, GE Life, JCB and Fiat in
Europe. In North America the company's client base includes the
State of Arizona Superior Court, the State of Oklahoma Employment
Security Commission, the Texas Higher Education Coordination Board
and Universal Studios Canada. Solutions provided by Twincentric
will provide ActiveCore with a key technology infrastructure
platform which will combine with the capabilities of its DynaPortal
and ActiveLink products to service the full IT marketplace. The
company intends to maintain Twincentric Limited as a separate
subsidiary which will share resources with the company's current UK
subsidiary, ActiveCore Technologies UK Limited. Three new products:
Net.Visual(TM), Twincentric's own flagship product; Smart
Wells(TM), a product developed by a UK based software development
firm specifically for the oil industry market; and Caravel(TM), a
product owned by TransTOOLs S.A., will join ActiveCore's technology
lineup. Each of these highly successful products represent unique
and highly effective solutions to problems encountered by IT
professionals in linking mainframe installations to the internet.
Brian MacDonald, Chairman and CEO of ActiveCore said, "We believe
that the addition of Twincentric's existing and growing customer
base coupled with their highly experienced and capable staff will
allow us to greatly expand our current ActiveCore product and
services offerings to large European based companies and provide a
lauchpad for MDI Solutions' entry into the European market." Mr.
MacDonald also went on to say, "from a shareholder's perspective,
the acquisition of Twincentric will add revenues in excess of
$1,000,000 and profitability of $500,000 to our current and future
year's results and enable us to achieve the $.01 cent e.p.s figure
that we have projected for the current fiscal year. Twincentric has
a solid recurring revenue stream from ongoing maintenance fees from
sale of product in previous years which combine with ongoing
services revenues to provide a basis for expansion by ActiveCore
into the whole European market. Twincentric has ongoing business
partnerships with Bull Computers of France and TransTOOLs S.A.
through which ActiveCore will introduce its ActiveLink product."
Tony McGurk, Managing Director of Twincentric, said, "We are very
excited by the purchase of our company by ActiveCore. The ability
to link our technology and customers with ActiveCore's portal and
data base integration capabilities will allow us to greatly
increase our ability to access the North American Marketplace.
ActiveCore's growing customer base in health care, financial
services and government provide the perfect market sectors for
rapid expansion." About Twincentric Limited Founded by Tony McGurk
in 1998, Twincentric is a leader in providing solutions to
mainframe IT installations which enable legacy mainframe systems to
interface with the internet. The company's Net.Visual product is a
market leader in allowing existing main frame systems to emulate
themselves as web and internet applications without compromising
mainframe security. For information about Twincentric contact Tony
McGurk at +44-(0)1993-700610. Detailed information about
Twincentric can be found on the website http://www.twincentric.com/
. About ActiveCore Technologies, Inc. IVP Technology Corporation,
d.b.a. ActiveCore Technologies, Inc. develops, sells and implements
its own "Smart Enterprise" suite of products. These products
consist of web portal, enterprise and mobile components and
applications which give organizations of all sizes the capability
to "integrate, enable and extend" back office systems to connect to
customers and stakeholders. ActiveCore also operates under the
trade name MDI Solutions, C Comm Communications Inc. and
Twincentric Limited. In combination ActiveCore is able to service
clients around the world with any type of IT infrastructure. For
information about ActiveCore contact Brian MacDonald at (416)
252-6200. Detailed information about ActiveCore can be found on the
website http://www.activecore.com/. Statements contained in this
news release regarding IVP Technology and planned events are
forward-looking statements, subject to uncertainties and risks,
many of which are beyond IVP Technology's control, including, but
not limited to, reliance on key markets, suppliers, and products,
currency fluctuations, dependence on key personnel and trade
restrictions, each of which may be impacted, among other things, by
economic, competitive or regulatory conditions. These and other
applicable risks are summarized under the caption "Risk Factors" in
IVP Technology's Registration Statement on Form SB-2 filed with the
Securities and Exchange Commission on December 24, 2003.
Forward-looking statements by their nature involve substantial
risks and uncertainties. As a result, actual results may differ
materially depending on many factors, including those described
above. DATASOURCE: ActiveCore Technologies, Inc. CONTACT: Tony
McGurk of Twincentric Limited for ActiveCore Technologies, Inc.,
+44-1993-700610; Brian MacDonald of ActiveCore Technologies, Inc.,
+1- 416-252-6200 Web site: http://www.activecore.com/
http://www.twincentric.com/
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