Message #36 From:
NewsBot Date: November 22, 2006 09:00:00 AM
INLM News International Monetary Systems to Acquire Alliance Barter, Inc.
NEW BERLIN, Wis.--(BUSINESS WIRE)--International Monetary Systems, Ltd. (OTCBB:INLM), a worldwide leader in
business-to-business barter services, today announced that it has
entered into an agreement to acquire Alliance Barter, Inc. (ABI), one of
America’s leading trade exchanges. ABI has
offices in Rochester, NY and Toronto, Canada, and also serves clients in
Buffalo and Syracuse, NY.
Commenting on the transaction, Don Mardak, CEO of International Monetary
Systems, stated: “This is another wonderful
addition to our growing family of trade exchanges. Steve Webster,
founder and owner of Alliance Barter, has been a long-time leader in the
barter industry. He is a member of the Barter Hall of Fame and is the
only person who has been president of both NATE and IRTA, the two
industry associations. Steve will stay involved with our company for the
transition and, hopefully, will continue to share his wisdom and
leadership in the future.
“Alliance Barter has one of the strongest
trade-dollar currencies in North America and will bring a wealth of new
products and services into the IMS barter network. This merger of our
two fine companies will enhance our dominance of the barter industry and
will open the door to expanding our market into Canada. We expect to
conclude this transaction in January which, combined with our recent
acquisition of National Trade Association, should have a significant
positive impact on our revenue for 2007.”
International Monetary Systems, Ltd. recently announced record trade
volume, revenue, and new-client enrollments for October.
About International Monetary Systems
Founded in 1985, International Monetary Systems (IMS) serves more than
15,000 customers representing 22,000 cardholders in 40 U.S. markets.
Based in New Berlin, Wis., IMS is one of the largest publicly traded
barter companies in the world and is continually expanding its exchange
locations. The company's proprietary transaction network enables
businesses and individuals to trade goods and services throughout North
America. Using an electronic currency known as trade dollars, IMS
exchanges allow companies to create cost savings and to improve
operations by taking advantage of barter opportunities in their business
models. Managed by seasoned industry veterans, IMS is a recognized
member of the National Association of Trade Exchanges (NATE) and the
International Reciprocal Trade Association (IRTA). Further information
can be obtained at the company's Web site at: www.internationalmonetary.com.
