VoIP-Pal.Com Inc. Announces Fulfillment of Digifonica Share Purchase Acquisition Agreement
VoIP-Pal.Com Inc. Announces Fulfillment of Digifonica Share Purchase Acquisition Agreement
BELLEVUE, Wash.--(BUSINESS WIRE)-- VoIp-Pal.Com Inc. ("VoIP-Pal", "Company") (OTC Pink: VPLM) is pleased to announce the fulfillment of the Digifonica Share Purchase Acquisition announced late last year. On December 27, 2012, the parties entered into an agreement to complete a share purchase acquisition of Digifonica Gibraltar and all of its assets and complete Patent Portfolio. VoIP-Pal.com and Digifonica have since fulfilled all of the terms and conditions set forth in that agreement, making Digifonica Gibraltar a wholly owned subsidiary of VoIP-Pal.Com Inc, and exchanging shares of Digifonica Gibraltar for shares of VoIP-Pal.Com.
The assets acquired by VoIP-Pal include Digifonica's complete portfolio of issued and pending patents. The complete Patents Portfolio is comprised of one issued patent and four pending, which are in the final stages awaiting approval. The first of the company's issued patents, Lawful Intercept (LI), was allowed on January 18, 2013. The four patents pending are Rating Billing and Routing (RBR), Mobile Gateway (MG), Enhanced 911, and Advanced Interoperability Solutions.
"This is a monumental accomplishment for both VoIP-Pal and Digifonica," stated Dennis Chang, CEO of VoIP-Pal.Com Inc. "We have enjoyed a long and mutually beneficial relationship with Digifonica in our joint efforts to bring this patent portfolio to fruition. The completion of this partnership is an exciting step forward as we continue to work together in the rapidly expanding VoIP industry."
About VoIP-Pal.Com Inc.
VoIP-Pal.Com, Inc. ("VoIP-Pal", "Company") is a publicly traded corporation (OTC Pink: VPLM) incorporated in December of 1997 in the State of Nevada and headquartered in Bellevue, Washington. VoIP-Pal is a technical leader in the broadband Voice-over-Internet Protocol ("VoIP") market with the ownership and development of a portfolio of leading edge VoIP Patent Applications. Through its retail website, www.PlatinumPhone.com, VoIP-Pal is also a provider of local and long-distance VoIP telephone services for next generation devices including smartphones, tablets and cell phones.
VoIP-Pal's primary products are VoIP patent application technology acquired through the Company's Share Purchase Agreement to acquire 100% of the outstanding shares of Digifonica (International) Limited, a privately held company registered in Gibraltar ("Digifonica"). The Company is currently developing, testing, and administrating the patent process to ultimately license or sell the patents once they have been issued.
The addition of Digifonica has immediately advanced Voip-Pal as a technical leader in the VoIP services market which had revenues of $58 billion in 2011 and is experiencing double digit year-over-year growth. The patent application portfolio has greatly enhanced shareholder value and is expected to contribute to significant future revenue growth for Voip-Pal.Com as the number of mobile VoIP subscribers is projected to reach 410 million by 2015.
Corporate Website: www.voip-pal.com
Company Contact: info@voip-pal.com
IR inquiries: IR@voip-pal.com
IR Contact: Rich Inza (954) 495-4600
All statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
VoIP-Pal.Com Inc.
IR Contact:
Rich Inza, 954-495-4600
KEYWORDS: United States North America Washington
INDUSTRY KEYWORDS:
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