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Orbit E-Commerce Inc to Acquire the IPTV Video Internet Business
2 January 2005The acquisition of PureNet's assets will include all technical schematics covering a patented IPTV video / internet system, implementation capabilities, strategic partnerships with major equipment and video content suppliers, software developers, product and services and experienced management to execute the business plan. The patented IPTV technology, recently granted by the United States Patent Office, has been successfully tested and provides Digital, HDTV audio / video quality to the home. PureNet's IPTV products and services are on schedule to be installed in the first quarter of 2005. The Companies intend to complete the acquisition in the first quarter of 2005.
"The acquisition will be a major step in having OECI become a leader in IPTV services in the USA and provides it with the potential to generate significant shareholder value," said Douglas C. Lloyd, OECI President and CEO. "PureNet has proven expertise in building networks and creating strategic partnerships with technology suppliers. IPTV represents a revolution in High Definition television services and turns the TV into a communications portal benefiting consumers. It takes advantage of cost efficient Internet Protocols to deliver greater variety digital quality video and other services. IPTV uses Digital Subscriber Lines (DSL) broadband services to give subscribers access through their television sets to such services as:
Orbit E-Commerce Inc. was established in 2000 for the purpose of capitalizing on management's vision and expertise in the field of Internet-based communications systems, products, and services. This acquisition of PureNet.TV Canada Inc. will allow OECI to extend its communications vision and expertise into the market for IPTV video / internet services which is poised to experience rapid growth.
Contact Information
Contact Mr. Michael Magee, Executive Assistant, Orbit E-Commerce Inc., 416-850-7134 or via e-mail at: mmagee@orbitecommerce.com for information regarding this press release. For more information about OECI, see the Company's web site: www.orbitecommerce.com.
Source: XTV World
All trademarks and copyrighted information contained herein are the property of their respective owners.
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