POCKETMAIL COMPLETES ACQUISITION OF WORLD-WIDE POCKETMAIL® BUSINESS
Sydney, Thursday 10 May, 2001 - The Board of PocketMail Group Limited today announced that the Company has completed the acquisition of the world-wide PocketMail® mobile e-mail business from privately held Pocket.com Inc. of Santa Clara, California.
The acquisition:
- immediately increases PocketMail Group’s paying subscriber base from 7,000 to over 50,000 subscribers (primarily in U.S.A., Canada, Australia, UK, Singapore and Hong Kong);
- immediately increases the PocketMail Group’s subscriber revenues from just over A$100,000 per month to over A$1 million per month;
- keeps PocketMail Group on track to becoming cash flow positive in the second half of calendar 2001;
- gives PocketMail Group ownership of the PocketMail intellectual property and technology on a global basis; and
- provides PocketMail Group with the opportunity to expand the PocketMail Service into additional countries.
PocketMail Group Chief Executive, David Marchant, stated, “The completion of this acquisition was key to the future of PocketMail Group. We now have the platform from which to go on and build a profitable and truly global business.”
David Marchant added, “Following this acquisition we now operate the mobile e-mail service with the widest coverage in the world. Our PocketMail customers can send and receive e-mail from any country using virtually any telephone, as well as over the Internet.”
About PocketMail Inc.
Corporate Backgrounder
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FOR IMMEDIATE RELEASE
Media Contacts:
David Marchant (CEO)
(408) 689-1241
San Jose, California
david.marchant@corp.
pocketmail.com
Richard Shaw (CFO)
+61 2 9955-0500
Sydney, Australia
richard.shaw@pkt.com.au
PR Contact:
Nanci Williams
Orloff/Williams
(408) 293-1791
About PocketMail:
Interactive Demo
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