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Redux Holdings Announces Joint Venture With Radius, Inc. and Establishes New Operating Subsidiary
19 September 2006 Redux Holdings, Inc. (PINKSHEETS: RDXH) announced today that it has established a Joint Venture with Radius, Inc., an ISO credit card processing company primarily focused on providing merchant credit card services to the middle market. As part of this relationship, a new company was formed, OWS/Merchant Services, Inc. (OWS/MS). Redux will own a 40% equity interest in the privately held company.
Over the past quarter, Redux has announced a number of synergistic acquisitions, including the purchase of a 256-station Call Center and IT Department, a strategic partnership and purchase of a 30% equity stake in Internet search engine WebMenu, Inc. (www.webmenu.com), the purchase of a majority of stock of Naturade, Inc. (OTCBB: NRDC) and today's announcement with Radius. (For information regarding prior news releases, please visit www.firstcapitalinvestors.com/news.php)
In order to integrate the various components seamlessly, Redux has established a new operating subsidiary, B2B, Inc. B2B will operate as a wholly owned subsidiary of Redux and will combine the assets of the Call Center and IT Department with the newly formed relationships and equity interests of WebMenu and OWS/MS. The intent of this capital structure is to simultaneously drive revenue and increase market share for WebMenu and Radius (through OWS/MS) by leveraging the call center's capabilities to conduct strategic business-to-business, outbound marketing campaigns.
WebMenu has developed a line of internet enabled software applications for which Redux has retained licensing rights through its strategic alliance and equity investment. OWS/MS will begin to provide marketing and sales efforts for these software applications. One of the software applications licensed to B2B by WebMenu is a software application that supports the rapid processing of take-out restaurant orders over the internet. This software allows a customer to submit an order via the internet and the take-out order is sent directly to the restaurant's kitchen. As a cross promotion business incentive, B2B will offer this software application as an incentive for restaurants to switch their ISO credit card processing to OWS/MS.
Highlighted Links First Capital Investors, Inc.
OWS/MS will focus on applications that drive both value and revenue. For example, in addition to restaurant application discussed above, there is also a loan program that will allow a retailer to borrow against their monthly balance, in addition to other internet software applications for which Redux is preparing to initiate marketing programs.
Utilizing the 256-station call center assets, which are capable of 256 simultaneous calls, B2B will also be the primary marketing arm for OWS/MS's sales effort to start-up companies. B2B expects to generate revenue in multiple ways. First, B2B will earn commissions on hardware sales, such as credit card swipe machines. Secondly, B2B will be entitled to 50% of the credit card processing fees generated by OWS/MS. Lastly, B2B will own 40% of the remaining OWS/MS profits as a result of its 40% equity ownership.
Redux Chairman and CEO, Adam Michelin, commented on the recent developments, "I am pleased to continue to add pieces to our rapidly growing portfolio of companies. Our team is focused on creating value throughout the organization through the acquisition process and focuses on distressed assets, joint ventures and strategic alliances that have the capability to grow multiple divisions in a single transaction. Having a credit card processing organization in the mix will allow our current and future operating subsidiaries to redirect existing business to a sister company. Additionally, cross promotion of multiple product lines is intended to drive higher the overall enterprise value. We are currently working through final negotiations to add another piece to the portfolio, which I believe will demonstrate to the industry that Redux Holdings will establish a significant footprint in the health foods and nutritional supplement industry."
For additional information on Redux Holdings, Inc., visit the company's website at www.reduxholdings.com. An investor fact sheet is available for download at www.firstcapitalinvestors.com.
About Redux Holdings, Inc.
Redux Holdings acquires assets of underperforming and distressed companies on a non-cash basis and isolates, recombines and manages those assets to increase their value and to develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in quickly identifying, analyzing and stabilizing these businesses opportunities and effecting rapid turnaround and asset monetization.
Safe Harbor: This press release may contain forward-looking statements. The words "estimate," "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Investor Relations: First Capital Investors, Inc. 321-221-2910 Email Contact
SOURCE: Redux Holdings, Inc.
Source: marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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