Message #9 From:
Stock News Bot Date: August 18, 2005 02:00:00 AM
TEDG News Techedge Announces Tentative Agreement to Acquire Unitop Communications Business Unit in China
ISELIN, N.J.--(BUSINESS WIRE)--Aug. 18, 2005--Techedge, Inc. (OTCBB:TEDG), a leading international mobile VoIP and wireless broadband solution provider, today announced its wholly-owned subsidiary China Quantum Communications Ltd. (CQCL) has reached a tentative agreement with China Unitop Electronics (Unitop) to acquire Unitop's communications business unit, which has deployed one of the largest metro Wi-Fi networks in China. Terms and conditions of the proposed acquisition were not disclosed.
"As wireless Internet technology continues to evolve and wireless Internet applications gain popularity in urban China, compelling opportunities are rapidly emerging for ambitious, insightful and pioneering companies, such as China Quantum. We are very excited about this potential strategic acquisition, and believe it could greatly complement our long term growth objectives in China," stated Peter Wang, President and CEO of Techedge. "Because Unitop shares our enthusiasm for the mutually beneficial opportunity this may represent, we look forward to advancing our negotiations quickly."
About Techedge, Inc.
Techedge, Inc. is a leading international mobile Voice over IP (VoIP) solution provider. The Company has pioneered a disruptive and low cost communications solutions combining matured radio and VoIP technologies for emerging service providers to address customers' communications needs. Techedge's IP-PCS solution is the first in the market to support VoIP with regional mobility on an unlicensed PCS frequency for low-cost mobile VoIP services. Its core platform can easily adopt various radio technologies such as PACS-UB, Wi-Fi, and WiMax providing smooth transitions with call management and operating support systems. It is designed for rapid deployment in urban, resort, campus and local communities. For more information on Techedge, please visit www.techedgeinc.net.
SAFE HARBOR STATEMENT: This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future, " "plan" or "planned, " "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including risks that our products may not achieve customer acceptance or that they will not perform as expected, and other risks identified in our annual report on Form 10-K and other filings with the SEC. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements are made as of the date hereof and Techedge, Inc. undertakes no obligation to update such statements.
