iTokk Inc., Signs LOI with Mayfair Club A.E. of Athens Greece for Strategic Distribution Partnership
November 27 2009 - 1:38PM
Marketwired
iTokk, Inc. (OTCBB: IKTO), the world's most innovative
communications company, via our offices in London, England, today
announced that it has signed a binding Letter of Intent (LOI) for a
strategic distribution partnership with Mayfair Club A.E. of Athens
Greece to begin distribution of the iTokk products and services in
Greece and the Balkans; and in addition will embark on business
development in the Commonwealth of independent States (CIS) former
countries of the Soviet Republic.
According to the Agreement, Mayfair Clubs will begin by bundling
their existing portfolio of solutions along with the iTokk
Click-to-Call and iTokk-Mobile services and will be marketed and
distributed through Mayfair Clubs distribution network of more than
250,000 customers that have purchased more the one solution and
over 1,200,000 customers that have purchased at least once a
solution from Mayfair Club. Mayfair Club has been providing
solutions for over 1800 businesses in Greece since 1985
integrating, distributing and bundling solutions supplied by
companies including Vodafone Greece, Wind telecom & ISP, Vivodi
Telecommunications, Cosmote, On Telecoms and Tellas.
"The synergy that we are about to create with iTokk will align
seamlessly with our mission statement to our customers and with
iTokk's innovation and dedication the sky is the limit," Said Mr.
Christos, President of Mayfair Club S.A. "Mayfair Club commits in
its mission to provide immediate and high quality services to
customers and respond to their demand for new and exciting
products."
According to telecommunications Research Company Buddcomm's
annual publication 2008, profiles the emerging Balkan markets and
the integration with the EU which is driving economic development
and change, a trend that has manifested itself in the region's
telecoms markets. The report presents an overview of the telecom
markets in what are arguably some of Eastern Europe's most
promising growth markets with example highlights such as fixed
broadband take-up across the region gaining momentum with annual
growth rates of 200% in Bosnia-Herzegovina, 51% in Croatia and 62%
in Cyprus.
"Our London office is the gate way to Europe, and Mr Christou
along with Mayfair Clubs with offices in Athens is the gateway for
iTokk in the Balkans," said Mr. Carmelo D'Anzi VP of Business
Development for iTokk. "We are excited to one of the first real
innovators of IP platform services to enter the region and look
forward to supporting Mayfair Club A.E."
The two organizations are negotiating the final terms and
conditions of a reseller arrangement that would give Mayfair 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 Mayfair Club A.E.
Mayfair Club A.E., is an international import and export company
and provider of value services. The company participates
financially as a shareholder and has invested in more than 12
related companies. As an international trade operator, we are
responsible for dealing in and developing our overseas business
markets. Mayfair club international import and export was
established in 1984. Mayfair Club offices are located at Petrou
Ralli 351 Nikaia-Athens in 4 floors building with total space of
1.200 sq/m and can serve 200 calls at the same time per branch.
Additional branches are in Kalithea-Athens, Dafni-Athens, two
offices in Thesalloniki, two in Patra, and one in Heraklio.
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. - Investor Relations Angelo Soukas
President 408-419-1719 asoukas@itokk.com iTokk, Inc. - For business
development information in Europe Mr. Carmelo D'Anzi VP of Business
Development 44-790-088-7405 cdanzi@itokk.com www.itokk.com
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