STRATEGIC PARTNERS
February 27, 2002
VANCOUVER, British Columbia -- DataWave Systems Inc. and Lipman USA have signed a Memorandum of Understanding to form a joint venture to develop and market ATM and POS activation systems. The two companies will integrate their technologies to produce new systems, which will be owned, marketed and placed through the joint venture.
"Working with Lipman will present many exciting opportunities for DataWave. Lipman's extensive experience and first class world-wide reputation will benefit DataWave both in North America and in international markets," said Josh Emanuel, DataWave president and CEO.
Based in Canada, DataWave owns and manages a proprietary, intelligent, automated direct-merchandising network known as the DataWave System.
The DataWave System uses free-standing kiosks and over-the-counter (OTC) "swipe" units to distribute prepaid phone cards. The units are connected to DataWave's proprietary communications gateway and software through a wireless and/or land line wide area network.
"DataWave's technology and distribution channels complement the Lipman product line," said Mony Zenou, president of Lipman USA. "Integration of our technologies will provide additional opportunities through ATM and point-of-sale activation systems to introduce cash dispensing, prepaid products and advertising to new markets."
Lipman USA Inc. is a subsidiary of Israel's Lipman Electronic Engineering Ltd. Lipman USA is the primary distributor and software developer of the Nurit product line and is the leader in selling wireless POS terminals to the North American marketplace.
