VendTek | January 31, 2011 | Press Release
VANCOUVER, Jan. 31 /CNW/ – VendTek Systems Inc. (TSX-V: TSI, the “Company” or “VendTek”), a developer and licensor of software for the global prepaid and financial services markets, is pleased to announce that its wholly owned subsidiary, Now Prepay Servicos de Informatica Ltda., has signed a national distribution agreement with Embratel Participações S.A. (“Embratel”) to distribute prepaid fixed telephony (land-line) vouchers.
Embratel, one of the largest telecommunications companies in the country, offers complete solutions for local telephony, domestic and international long distance and international data transmission, Internet and television, as well as ensuring service anywhere in the country through its satellite solutions. Embratel’s net revenues totalled R$10.602 million in 2009.
Embratel, along with related companies Claro (wireless) and NET (cable TV), form one of the top 3 telecom groups in the country.
Brazil has over 41 million landline users as of 3Q 2010.1 Local telephony is a growing line of business for Embratel and accounted for 20.1% of net revenues in 2009.
“Embratel is one of the largest communications companies in Brazil. We are pleased to add Embratel to the growing list of products that we can distribute in Brazil,” said Doug Buchanan, President and Chief Executive Officer of VendTek.
About Embratel
Embratel is the most complete Brazilian telecommunications provider. It offers complete telecommunications solutions to any market, including local telephone service, long distance domestic and international data transmission, video, broadband and cable TV, and ensures compliance at any point of Brazilian territory through satellite solutions. Embratel is part of the history of Brazil for 45 years and since then has played a key role in the modernization of Brazil. For more information, visit www.embratel.com.br
About VendTek
VendTek develops and licenses automated transaction system software and supporting technologies. VendTek’s customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company’s websites www.vendteksystems.com and www.nowprepay.com.
Forward-Looking Information
This news release contains statements which are not current statements or historical facts and are “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, contained in this news release constitute forward-looking information. Wherever possible, words such as “plans”, “expects” or “does not expect”, “budget”, “forecasts”, “projections”, “anticipate” or “does not anticipate”, “believe”, “intent”, “potential”, “strategy”, “schedule”, “estimates” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved and other similar expressions have been used to identify forward-looking information. These forward-looking statements relate to, among other things the Company’s expectations regarding future growth, results of operations (including, without limitation, future production and sales, and operating and capital expenditures), performance (both operational and financial), business and political environment and business prospects (including the timing and development of new deposits and the success of exploration activities) and opportunities.
Although the forward-looking information in this news release reflects the Company’s current beliefs on the date of this news release based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results, performance, achievements, prospects and opportunities, either expressed or implied, will be consistent with such forward-looking information. By its very nature, forward-looking information necessarily involves significant known and unknown risks, assumptions, uncertainties and contingencies that may cause the Company’s actual results, assumptions, performance, achievements, prospects and opportunities in future periods to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, among other things, revenue growth, operating results, the market demand for our products, product development, and litigation as well other factors described in the Risks Related to Our Business Section in our 2009 annual Management Discussion and Analysis. There may be other factors that cause results, assumptions, performance, achievements, prospects or opportunities in future periods not to be as anticipated, estimated or intended.
There can be no assurances that forward-looking information and statements will prove to be accurate, as many factors and future events, both known and unknown could cause actual results, performance or achievements to vary or differ materially, from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements contained in this news release. Accordingly, all such factors should be considered carefully when making decisions with respect to the Company, and prospective investors should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise forward-looking information to reflect changes in assumptions, changes in circumstances or any other events affecting such forward-looking information, except as required by applicable law.
Press Release via Canada News Wire
