First Step in Synergistic Relationship Signals Major Advance in Companies' Converged Multimedia Solutions
NEW YORK, May 14 /PRNewswire-FirstCall/ -- Fusion (AMEX:FSN), a global communications service provider, today announced DigitalFX International, Inc. (OTC:DFXN) (BULLETIN BOARD: DFXN) has made a $700,000 strategic investment in the Company. This investment was made under the same terms and conditions of Fusion's recently announced Private Placement. Digital is a leading video and content management company that combines cutting edge communications and storage tools into one versatile, easy to use digital platform.
Helloworld, Digital's consumer product, offers customers the ability to upload, store and share their calendars, pictures, emails, video emails, songs, documents, podcasts and live webcasts online from any computer, anywhere in the world. Digital delivers innovative and revolutionary tools for businesses through Firststream, a comprehensive streaming solution that enables corporate customers to broadcast live via the Internet, manage all incoming email, send video email, create video podcasts and blogs, and broadcast group video instant messages.
"We are very pleased to receive this strategic investment from Digital and align our Company with a leading provider of converged IP solutions for consumers and businesses," said Matthew Rosen, President and CEO of Fusion. "Moving forward, we have every expectation that Digital and Fusion customers will benefit from the strong cooperation between our two companies. We look forward to leveraging each other's strengths and growing together as a force in the converged multimedia marketplace." "Digital believes Fusion is uniquely positioned to become a leader in the VoIP market," said Craig Ellins, Digital's Chief Executive Officer. "We have been impressed with the exceptional quality, reach and innovation of Fusion's VoIP products, as well as their outstanding technical and management team. We are excited about the clear synergies between our companies and look forward to building a strong alliance with Fusion as we develop converged solutions for our customers." About Fusion: Fusion delivers a full range of advanced IP-based services to corporations, consumers and carriers worldwide. Fusion's Efonica-branded VoIP products and services, which focus primarily on Asia, the Middle East, Africa and Latin America, have over one million subscribers from more than 100 countries. For more information please go to http://www.fusiontel.com/ or http://www.efonica.com/ .
About DigitalFX: DigitalFX International (OTC:DFXN) (BULLETIN BOARD: DFXN) is a creator of digital communications and social networking solutions, as showcased on its social network http://www.helloworld.com/ . The company develops and markets proprietary communication and collaboration services, and social networking software applications, including video email, video instant messaging and live webcasting. DigitalFX International, Inc. is democratizing the world of online streaming video and digital media archiving with its flagship product, called The Studio. The Studio is an affordable, cross digital platform web-based solution. Only the DigitalFX Studio brings together all this capability, simply and in one place.
Statements in this Press Release that are not purely historical facts, including statements regarding Fusion's beliefs, expectations, intentions or strategies for the future, may be "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, introduction of products in a timely fashion, market acceptance of new products, cost increases, fluctuations in and obsolescence of inventory, price and product competition, availability of labor and materials, development of new third-party products and techniques that render Fusion's products obsolete, delays in obtaining regulatory approvals, potential product recalls and litigation. Risk factors, cautionary statements and other conditions which could cause Fusion's actual results to differ from management's current expectations are contained in Fusion's filings with the Securities and Exchange Commission and available through http://www.sec.gov/ .
FUSION Jonscott Turco
CONTACT: 212-201-2401
http://www.newscom.com/cgi-bin/prnh/20050705/NYTU073LOGODATASOURCE: Fusion CONTACT: Jonscott Turco of Fusion, +1-212-201-2401, or Web site: http://www.fusiontel.com/ http://www.helloworld.com/ http://www.efonica.com/
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