LONDON, Sept. 27, 2006 (PRIMEZONE) -- Quantech Electronics Corp. (Pink Sheets:QTCE), software developer for marketing communications, announced that it is negotiating an agreement with Balmoral Financial Services which allows Quantech an option to acquire several companies in the European Union.
Quantech Electronics Corp. is currently negotiating an agreement with Balmoral Financial Services (www.balmoralfinancial.com) that would allow Quantech to acquire several firms in the EU, and merge its areas of operation into specific niches in which Quantech has a competitive edge. Such acquisitions would greatly expand Quantech's operations through the penetration of its products in new marketing channels.
If negotiations successfully end in an agreement, Quantech will formulate letters of intent and MOUs with several companies in the next few months, and intends to complete several mergers by the end of the year. Quantech will be assisted by Balmoral, a global financial services firm and a market leader in investment management, mergers and acquisitions and credit services.
"Negotiations with Balmoral are proceeding with great enthusiasm. We expect to complete this round of discussions in the near future, and are poised to enter into intensive discussions with several intriguing EU companies that offer Quantech new marketing channels for its products. We hope that a series of mergers will be completed by the end of the year, and significantly expand Quantech's operations," says Liat Matilsky, CEO of Quantech.
About Quantech
Quantech Electronics Corp. is a web-based software development company based in the UK, that offers development services focusing on web-based desktop communication tools, call center support tools, and development packages designed to enhance the effectiveness of web-based advertising and instant messaging. The company's powerful, easy-to-use software enhances the effectiveness and efficiency of its customers' online and offline businesses. Driven to provide comprehensive solution packages for their clients' entire online business needs, Quantech focuses on customized developments for medium to large businesses, as well as start-ups. Quantech's unique technologies and rapid-response systems construct client infrastructure at competitive prices.
Forward-Looking Statements
Certain statements in this news release may contain "forward-looking" information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
To contact Quantech or access more information, please visit our web site at www.quan-tech.co.uk