Image Globe To Acquire 15% Of Issued And Outstanding Stock Of HFS Technology
Image Globe To Acquire 15% Of Issued And Outstanding Stock Of HFS Technology
TORONTO -/October 21, 2005 - Wi-Fi Technology News/- Image Globe Solutions, Inc. (OTC: IGSS) announced that it has entered into a Subscription Agreement with HFS Technology, Inc, ("HFS Tech") whereby Image Globe will acquire 15% of the issued and outstanding capital stock of HFS Tech. The Company anticipates that the transaction will be completed within forty five days.
HFS Tech is a supplier of In-Room Technology products and services to the Hospitality Industry and features a "No Cap Ex" offering to hotels. HFS Tech is a "one stop source" for technology products such as digital Video on Demand systems, LCD/Plasma High Definition (HD) televisions, surround sound systems, High Speed Internet Access and Wi-Fi, and other products plus providing a live 24/7 technology service and support center for all services provided by the company.
Paul F. Barry, CEO of Image Globe Solutions, Inc., stated: "This new opportunity not only conforms to our corporate objective of bringing businesses and markets together but, in addition, the quality of HFS Tech clients offers the potential for significant additional revenues through our developing capital lease division."
Barry Gore, Chairman and CEO of HFS Tech, stated: "The hospitality industry is changing rapidly. Today's hotel guest wants the same amenities they have at home, but the ability to choose a hotel that provides Flat Panel LCD / Plasma High Definition TVs, connectivity to the internet on 32" and larger flat panel screens, digital video on demand systems with multiple content including video games, MS Office systems, music on demand, quality sound systems plus printing capabilities not only for computers but PDA, Blackberry's etc. We have created an integrated solution combining all of these features that can increases the Rev Par of the hotelier plus provide the technology solutions that guests seek."
Image Globe Solutions is a development stage company which continues to seek out and develop strategic initiatives and investments designed to bring the company ongoing multiple revenue streams. Current initiatives include its previously announced development plans for sub-prime credit leasing, and its strategic investment in Nanonize Cutting Tools Corporation.
For more Information visit http://www.i-globesolutions.com and http://www.hfstech.com
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Oct 21, 2005
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