MONTREAL, Sept. 12, 2006 (PRIMEZONE) -- Jati Technologies Inc. (Pink Sheets:CLCW) announced today that the Company has completed the acquisition of Tom Calls Me Inc., in order to extend its lead in the market for developing and distributing portable minutes under that brand.
Jati said the deal would help meet rising customer demand for portable minutes across the telecommunication industry from any-to-any-device.
"This is all about growth," Albert Delmar, chief executive officer of Jati, said in a conference call. He said he expects the combined companies to grow faster than they would as stand-alone players.
The deal is the latest move in consolidation of the VoIP software sector, following eBay's acquisition of Skype.
The deal was welcomed by industry-watchers.
Jati said it was unable to provide any estimates on future earnings under generally accepted accounting principles due to uncertainty over restructuring costs related to the deal. However Jati is confident that this transaction will be profitable within the first 6 months from the onset of operations.
Jeshrun Philip will remain President of Tom Calls Me, Jati said, while Alex Kovalenko, co-founder, will become Chief Information Officer.
About Tom Calls Me Inc.
Tom Calls Me Inc. is the first portable telecommunication, paralleling communication between virtual and physical lines. This unique process personalizes and provides high quality calls across the world at a flat rate to and from any destination.
The Management shall announce as early as next week, appointment of new key officers, as well as other important developments on its new business.
For more information, visit www.jatitech.ca
Jati's Safe Harbour Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements". Forward-looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.
DIRECT ALL INQUIRIES TO: Mr. Yossi Berrebi, Director of Communications, 7575 Rt Trans-Canadienne, Suite 500, Montreal (St-Laurent), Quebec, H4T 1V6 (Canada) (514) 876-9997
For email enquiries please send your questions to investors@jatitech.ca