IPVoice Acquires Apple Networks Assets

August 19, 2002 -- Communications technology provider IPVoice Communications Inc. (IPVoice.com) announced on Monday that it has acquired the assets of Apple Networks Inc. in a move that represents the first acquisition in a campaign to build an enhanced services product line.

On June 19, IPVoice launched a strategic effort to evolve its business model with the acquisition of VergeTech Inc. The combination provided the integration of a growing portfolio of advanced internet communications technologies.

"Apple Networks is an accomplished voice products marketing company," says Philip Verges, CEO of IPVoice. "This is a very strategic acquisition for IPVoice, not a veiled move to roll-up revenue. We are building our product line very successfully and must be careful not to outpace our ability to sell more products than we can manage. We have not diluted shareholder value to acquire revenue. We have surgically acquired assets from Apple Networks to gain telecom industry sales veterans and access to new customers."

IPVoice says it is in negotiations on a number of acquisitions. All of the company’s pending announcements of intent to acquire have been awaiting the finalization of the first transaction with Apple networks, says the company. IPVoice has planned the expansion of its sales force to match the expanding of its product line, to be realized through a number of new acquisitions to be announced soon.