Asp buffalo hosting web
AdvanteXCEL.com Signs Letter Of Intent To Acquire E-Commerce Networks, An Up And Coming Web Hosting And Marketing Firm
AdvanteXCEL.com Communications Corporation (OTCBB:AVXCF -CDN: AXCL.U)
announced that it has signed a letter of intent to acquire
privately-held E-Commerce Network Inc., a Canadian corporation with
operations in Toronto, Ontario. The combined company expects to host
more than 2,000 web sites and have an estimated combined 2000-2001
annual revenue in excess of $3 million.
E-Commerce Networks, which was founded in October 1999, has rapidly
become a leader in worldwide sales of web sites to first time users,
home-based businesses and many other customers in the United States
and Canada.
``Cutting edge technology, stickiness and new product development will
be the key factor in the thrust that will accelerate ECOMM forward
for our market share,'' said Sonny Schreter, President of E-Commerce
Networks Inc. This enhanced relationship will provide us with the
opportunity to utilize the latest e-commerce, website building,
website hosting, and customer support tools along with products that
will help draw return traffic to our customers' sites. The synergies
created through the merger of the combined companies will accelerate
the vision that we have had since the beginning, and that is to be
one of the largest web hosting and ecommerce providers in the
world.''
``Our proprietary technology and unique approach to building an
effective web presence has the potential to turn web sites into
successful businesses,'' said Marshall Weinstein, Chairman of
AdvanteXCEL.com Communications Corporation. This merger fulfills a
part of the total vision that this Company has had for two years and
will help in creating one of the industry's leading B2B ASP
companies.''
The Company said that it hoped to have the merger completed within the
next 60-90 days, subject to final Board approval. During that time
the two companies will plan and facilitate the integration of
management and operations in the combined company. The Merger
Agreement allows the two companies to develop additional revenues
together and share services during the due diligence process. While
both companies will be responsible for their own overhead during the
joint venture, they will share in gross revenues. "AdvanteXCEL has a
well qualified technical team that will bring new dynamic products
and programming with the expertise to the e-business solutions
forefront,'' said Schreter. ``We are excited about the opportunity as
the union will enhance both business models.''
AdvanteXCEL.com Communications Corporation offers communication systems
and products that integrate fax, voice and e-mail technologies, which
allow users to retrieve messages from any location in the world.
AdvanteXCEL's solutions implement an innovative gateway system, which
can save users 50% to 75% on their long distance fax charges.
AdvanteXCEL's other services and products include: premium e-mail,
webmail, fax to fax, e-mail to fax, website to fax, chat,
classifieds, video conferencing and international business card
directories.
AdvanteXCEL has offices in Toronto, Ontario, Canada and Pittsburgh,
Pennsylvania, U.S.A. Corporate headquarters are located in Buffalo,
New York U.S.A. Company stock is quoted on the Canadian Dealing
Network (CDN) Toronto Exchange under the symbol "AXCL.U" and listed
on the NASDQ OTC BB under the symbol "AVXCF." The company has
23,021,597 common shares outstanding. Statements in this release referring to
expectations as to the future, results of operations and financial
conditions, may contain forward looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve risks, uncertainties, and other
factors, which may cause the actual results or events to be
materially different from such forward-looking statements. Such
factors include, but are not limited to the merger of the two
companies being completed, levels of sales, general domestic and
international conditions including consumer demand, reliance on key
relationships, dependence on technology, actions taken by
competitors, changes in telecommunications and infrastructure costs
and the availability of capital.