iTokk Inc. Signs Letter of Intent (LOI) with Amroth Ltd, of London UK
December 15 2009 - 4:05PM
Marketwired
iTokk Inc. (OTCBB: IKTO) the world's most innovative communications
company via our offices in London, England, today announced that it
signed a Letter of Intent (LOI) for a strategic distribution
partnership with Amroth Ltd, a London based UK company owned and
operated by Mr. Peter Gelardi a founder of World Telecom PLC,
formerly a leading European telecom value added service provider.
World telecom specialized in the corporate calling card for
businesses and was a leader in the European market with customers
such as UBS, Singapore Airlines, NatWest Bank, Diners Club Italy,
Alitalia, Lufthansa and many more fortune 1000 companies within the
European market. World Telecom was the sole provider for the ORANGE
prepaid cellular services. ORANGE is one of the largest cellular
phone providers in Europe. World Telecom was listed on the (Aim)
London Stock Exchange as a value-add telecom operator with
established marketing and distribution operations in Britain, Italy
and Spain with annual sales in excess of $40 million.
According to the Agreement, Amroth Ltd will begin by creating
custom co-branded solutions built with the iTokk Platform and
market iTokk Click to Call and iTokk Mobile within the UK market.
Amroth has obtained their existing distribution network and
established marketing alliances from World Telecom including
reseller organizations, agents and sales representatives throughout
the UK, Italy and Spain.
"The UK Telecom market is GBP 34 Billion strong and is an
important market for us to succeed in, we are eagerly looking
forward to enabling our first reseller in the UK," said Mr. Carmelo
D'Anzi, VP of Business Development for iTokk Inc. "This is an
important milestone for our European operation headquarters
recently launched here in London November 2009." Mr D'Anzi, who was
for a number of years one on Mr. Gelardi's executive team members
and instrumental to World telecom success will provide one-on-one
assistance in developing the Amroth opportunity for iTokk.
Mr. Gelardi commented that, "The UK tends to lead the way when
it comes to the deploying of new value-added telecoms services in
Europe. We look forward to working with ITOKK to capitalize on
their innovative technology to develop a suite of products
specifically for the European market. With iTokk's platform and the
ability to constantly deploy and deliver value add services and
iTokk's Innovation, this partnership is a perfect fit for Amroth
Ltd."
The two organizations are negotiating the final terms and
conditions of a reseller arrangement that would give Amroth access
to iTokk's IP services platform in exchange for yet to be disclosed
terms of revenue share and local pricing models. This Letter of
Intent (LOI) will be superseded and replaced, as soon as
practicable, by a formal reseller agreement with standard terms
that are consistent with the principal terms provided herein.
About iTokk
iTokk, Inc., the world's most innovative communications company,
offers flexible, next-generation telephony solutions for consumers
and businesses. iTokk's flagship product Npoints-Framework and
developers platform make it simpler, cheaper and faster to build
communications functionality into applications, enabling carriers
and networks to introduce new revenue-generating voice services in
days, rather than months. By combining the iTokk platform and
innovative products with carriers across the globe, iTokk has the
potential to deliver the industries most explosive growth of
innovation and in IP telephony. The worlds newest leading global IP
telephony company is headquartered in Sunnyvale, California with
offices in Canada, UK and India.
ADDITIONAL INFORMATION about iTokk, Inc. can be viewed on the
Company's Web site: www.itokk.com. Capitalization and filings can
be viewed at: http://www.otcbb.com.
SAFE HARBOR
Forward-looking statements made in this release are made
pursuant to the "safe harbor" provision of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements made by
iTokk, Inc. are not a guarantee of future performance. This news
release includes forward-looking statements, including with respect
to the future level of business for the parties. These statements
are necessarily subject to risk and uncertainty. Actual results
could differ materially from those projected in these
forward-looking statements as a result of certain risk factors that
could cause results to differ materially from estimated results.
Management cautions that all statements as to future results of
operations are necessarily subject to risks, uncertainties and
events that may be beyond the control of iTokk, Inc. and no
assurance can be given that such results will be achieved.
Potential risks and uncertainties include, but are not limited to,
the ability to procure, properly price, retain and successfully
complete projects, and changes in products and competition. SOURCE
iTokk, Inc.
Contacts: iTokk, Inc. Angelo Soukas President 408-419-1719
asoukas@itokk.com iTokk, Inc. Mr. Carmelo D'Anzi VP of Business
Development 44-790-088-7405 cdanzi@itokk.com www.itokk.com
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