TUCSON, Ariz., May 4 /PRNewswire/ -- Wavetech International, Inc.
(Nasdaq: ITEL) announced today that it has signed a worldwide licensing
agreement with Softalk International, Inc., a private communication software
company based in Toronto, Canada.
Wavetech, in cooperation with Softalk, intends to establish itself as a
next generation communications company by providing integrated voice, video,
fax and data by using Internet Protocol (IP) based network complementing
traditional circuit-switched networks. Wavetech believes this IP service can
reduce communications costs by 50% or more, while also providing increased
flexibility and convenience for targeted corporate clients.
Founded in 1985, Softalk's technology is based on Microsoft's NT operating
system, which Softalk believes will play an important role in redefining the
next generation of communication systems within the next five years.
The telecommunications industry is rapidly changing due to the enormous
growth of the Internet and the worldwide use of the PC. Recognizing these
trends, Softalk's patent pending technology operates over a combination of
networks, including Voice over Internet Protocol (VoIP), Voice over Frame
(VoF), Integrated Services Digital Network (ISDN), and traditional switched
networks. The Softalk integrated suite of networking products employ
international standards ensuring that products and devices seamlessly
integrate with existing networks, including phone and PBX systems, as well as
the Internet.
Under the Licensing Agreement, Wavetech will provide a U.S. presence for
Softalk and will focus on high level marketing efforts and customer support
services for corporate clients with international facilities. Wavetech will
generate revenues through the resale of the Softalk technology. Wavetech
anticipates that revenues will grow steadily as networks with distributed
intelligence are implemented internationally.
Gerald Quinn, President and CEO of Wavetech said, "This agreement
represents a fundamental shift in our previous business strategy. We're now
poised to become a full-scale operating company. Softalk's technology is the
future -- it's where telecom is heading. Softalk is already providing
services in the marketplace and we intend to quickly establish market share
and grow revenues using that technology."
Chris Lang, founder of Softalk said, "Our goal is to significantly
penetrate the international telecom market by producing cutting edge products
which provide real value to corporate clients and their customers. We look
forward to our strategic relationship with Wavetech which will allow Softalk
to continue focusing on designing next generation communications technology."
This press release contains certain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. This information may involve risks and uncertainties that
could cause actual results to differ materially from such forward-looking
statements. Factors that would cause or contribute to such differences
include, but are not limited to the uncertainty of the Company's ability to
satisfy the conditions to the continued listing of its Common Stock on The
Nasdaq SmallCap Market and other factors detailed by Wavetech in its filings
with the Securities and Exchange Commission.
SOURCE Wavetech International, Inc.
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http://www.interpretel.com
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http://www.prnewswire.com/comp/111429.html or fax,
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CONTACT:
Richard Freeman, Investor Relations of
Wavetech International, Inc., 520-750-9093, ext. 203
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