LOS ANGELES, Dec. 1 /PRNewswire-FirstCall/ -- IVI Communications, Inc. (BULLETIN BOARD: IVCM) (German WKN# A0DNWJ) announced today that it has signed a letter of intent to acquire the ISP component of Michigan based technology consultant, TotalCom, LLC.
TotalCom offers a wide array of products and services, including dial-up, wireless broadband, point-to-point, web hosting, and other associated services. TotalCom also performs computer service and repairs and builds user specific computer systems. For more information, please visit its website at http://www.totalcom.us/.
Nyhl Henson, IVCM President and CEO, commented, "TotalCom is one of many acquisition candidates we have evaluated over the last several months. The compelling opportunity, in this instance, is the potential to demonstrate a significant return on investment inside of 15 months. I give a lot of credit to Stanton Walker and our executive management team for their due diligence and implementation. We are confident in our abilities to expand TotalCom's business further while limiting some redundant expenses."
IVCM expects to accelerate the process of evaluating and acquiring Internet Service Providers through the end of 2005 and through 2006.
The closing of the acquisition (the "Closing") is subject to negotiation of a definitive agreement, satisfactory completion of due diligence, and certain other conditions.
If you would like more information on IVI Communications, Inc., please visit our website at http://www.ivn.net/, or contact Investor Relations at Blue-Sky Solutions, LLC, Stephanie Soleas, (877) 4-BLUE-IR,
Forward-Looking Statements
This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, the successful consummation of this acquisition, the successful integration of TotalCom operations with those of IVCM, market acceptance of products and technologies, competitive factors, the Company's ability to continue to secure sources of financing and other factors described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.
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