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Hallo, guten Morgen . Monday September 18, 11:28 pm Eastern Time Press Release Upgrade International Corp. Enters Into Letter of Intent to Acquire 60% of Cards & More GmBH SEATTLE--(BUSINESS WIRE)--Sept. 18, 2000--Upgrade International Corporation (OTCBB:UPGD - news) announced today that it has signed a letter of intent to acquire 60% of Cards & More Plastikkartenvertrieb GmbH (www.cardsnmore). The acquisition is subject to the negotiation of a definitive merger agreement, and the receipt of regulatory approval. Headed by Peter Lippold, President and CEO, who has more than 15 years experience in the industry, Cards & More was founded in 1988 in Ratingen, near Duesseldorf, Germany, and is one of the leading companies in the plastic card business. The company is particularly geared towards marketing and sales as well as systems integration under the direction of Peter Alpmann, who was the former head of Gemplus Emerging Markets Central Europe. The product portfolio of Cards & More covers a wide area and includes the following: card printing systems (monochrome and colour), cards including ISO and non-ISO cards, integrated chip cards (from Siemens, Philips, Thomson, memory or processor chips), database management, consulting, loyalty applications and access control systems as well as card readers of various technologies. Over the past few years, Cards & More has delivered and participated in a substantial number of projects and has provided its services to hundreds of companies in 25 countries. Some of the larger clients include the following: Formula One Worldwide race and VIP passes, access control and multi tasking applications, Mercedes Benz manufacturing plants, Germany (company ID cards, magnetic stripe technology), Siemens manufacturing plants, Germany (company ID cards, Mifare with contact chips), DSM, Netherlands (company ID cards, magnetic stripe technology), BVG Berlin Public Transport Organization, Germany (company ID cards with inductive technology), Kuwait Airways (employee cards with contactless technology), SkiData, Austria, ski passes with contactless technology. Since 1998, Cards and More Inc was established as a 100% subsidiary based in San Francisco in order to be in close proximity and participate in the development of state of the art products and services. ``After successful completion of rigorous testing s on UltraCard cards and readers over the past few months with Cards & More, we decided that they were the ideal partner for card development and commercialization for all card form factors,`` said Daniel Bland, President and CEO of Upgrade International. ``We are very pleased that Peter Lippold and his team want to join us. The proposed acquisition of Cards & More enables the Upgrade group of companies to deliver both hardware and software applications to the market, directly without the intermediation of third parties. With Cards & More we are ready to sell cards, readers and applications to existing and prospective clients.`` Peter Lippold, President and CEO of Cards & More said the following: ``Throughout the past few months, we have focused our efforts in assessing the technical and marketing strengths of the UltraCard technology. We have come to the conclusion that the UltraCard technology offers a superior product to those already in the market. The technological breakthrough achieved by UltraCard is considerable and we are looking forward to rolling out the capacity-rich hard disc drive technology into the credit card business. Furthermore, starting from expected revenues of US$11 million in 2000, I anticipate that the addition of the UltraCard technology to our suite of products will add significantly to our bottom line performance.`` Upgrade International Corp. (OTCBB:UPGD - news), through its ownership interest in UltraCard Inc., Efornet Corp, and Centurion Technologies Inc, is engaged in the development and commercialization of a patented, data storage technology. UltraCard incorporates conventional hard drive storage technology into a standard credit card form factor, which operates in conjunction with a read/write device and operating software. In addition, Upgrade has acquired and is developing application software and systems for specific applications of the UltraCard technology. Management believes that the UltraCard technology potentially will provide numerous industrial users with a combination of high levels of security and a vastly greater amount of personal, transportable data storage at the lowest cost in the industry. On Behalf of the Board of Directors, Daniel Bland, President This News Release may contain forward-looking statements relating to future results, performance, plans, events or other matters. Words such as ``potentially,`` ``will,`` ``anticipates,`` ``believes,`` ``plans,`` ``expects,`` ``future,`` ``intends`` and similar expressions are used to identify these forward-looking statements. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of the company`s products and services and markets for such products and services, the timing and level of customer orders, competitive products and services and pricing, changes in economic conditions and the markets for the Company`s products and services and other risks and uncertainties. Actual results, performance and events may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this News Release. The Company undertakes no obligation to release revisions to these forward-looking statements to reflect events or circumstances after the date of this News Release. Further information about the risks and uncertainties Upgrade faces can be found in its filings with the Securities and Exchange Commission, which can be accessed at www.sec.gov or www.freedgar.com. |
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| aus der Diskussion: | Upgrade - 61. Forum |
| Autor (Datum des Eintrages): | Bohne (19.09.00 06:48:44) |
| Beitrag: | 18 von 107 (ID:1865079) |
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