IpVoice Looks to Acquire VOIX Corporation

August 23, 2002 -- Communications network provider IPVoice Communications, Inc. (IPVoice.com) announced on Thursday that it has signed a Letter of Intent to acquire Seoul, Korea-based VOIX Corporation (VOIX.co.kr/index-e.htms).

Founded in 2000 to develop a number of IP hardware and software products, VOIX has developed and developing products including an intelligent taxi advertisement system, with over half a million dollars in initial sales and Web POS terminal with over two million dollars in initial sales. The company has won a number of awards for engineering excellence.

IPVoice says the companies agree on the benefits of their combining. Their management teams are meeting this week to work out the details of the transaction, and are in talks with investors in both the US and China.

According to IPVoice, the company specializes in introducing new and advanced Internet communications technologies to the market, and has a long history with VoIP products. IPVoice is now working to expand its IP product line through the acquisition of innovative companies with products that compliment its own solutions.