- Oops!Something went wrong.Please try again later.
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2020) - Upco International Inc. (CSE: UPCO) (OTC: UCCPF) (FSE: U06) ("Upco") is pleased to announce the acquisition signed at 18th of November 2020 of Equinox Group www.equinox.do Equinox is a Dominican Republic Teleservices Company with wholesale operations in the USA and in niche markets in the Caribbean, through offices in Miami and Dominican Republic.
Equinox is joining the "Federated Carrier Program" by selling 51% of the company in exchanged of 7,023,145 UPCO Shares, for a total amount of $US 223,740.06 or equivalent to $CAD 292,271.64.
Accelerates Upco consolidation strategy and boosts size of Upco Systems Inc, its operating company in NY.
Becomes long-term partner for international voice and retail traffic services.
Validates expertise in fast paced integration and attractiveness of FCP model.
Boosts marketing services to promote Upco Mobile messenger and UpcoPay to increase retail organic growth in Central and South America as well immigrants in the US and Canada from Caribbean helping in payments and remittances services.
Upco International (UPCO), telecom and digital services company group, enabling operators and digital players worldwide, announces the acquisition of EQUINOX.
The transaction to UPCO's M&A and consolidation strategy, is starting after the announcement in July 2020.
The deal strengthens UPCO' footprint in Spanish-speaking and French-speaking markets. The transaction also reflects UPCO's strong development on retail services by leveraging over EQUINOX's telemarketing international services.
UPCO' carving-out solutions enable operators and digital players worldwide to better manage the complexities of the international voice business by delivering competitive and predictable pricing, mitigating cost, profitability, and quality risks, while providing faster time to market for new international services.
Equinox's management has more than 20 years' experience in the telecom arena in various positions. Currently Equinox is focused on providing outsourcing and marketing services to different regional telecom operators by taking the advantage of the cost-efficient structure offered by the Dominican Republic as well as, through the Miami office, they offer telecom services for the US and Global markets.
Equinox's founder and CEO Mr. Nestor Bacchella says, "Equinox brings the experience of niche markets like the Caribbean and Latin America and will exploit the natural synergy between the two groups." In addition to its commercial relationships developed over many years with the leading telecommunications companies in Central, South America and Europe.
Equinox VP Sales & Partner, Rafael Luces added, "I'm proud to join in the new organization with the commitment to enrich the position of the group in the local region."
UPCO's founder and CEO Andrea Pagani says, "I'm really proud of this 1st step and the new management's ability to execute on this acquisition, we all see a lot of synergies with Equinox, with our subsidiary Upco Systems Inc, in NY and finally our Telecom business unit will start to generate steady Revenues immediately; moreover, using the marketing experience in Latin America provided by Equinox, Upco will start promoting its application to retail marketplace."
The completion of this deal is an important achievement for Upco management, as this is a complete turn-around, bringing asset and value to all shareholders.
About Upco International Inc.
Upco International Inc. (CSE: UPCO) is a Vancouver and New York City based telecom and digital services company founded in 2014 that provides price competitive, high-quality and privacy-protected telecom and communication payment social platform in niche markets globally.
The Company operates primarily in the telecommunication industry as a global telecom carrier within the international VoIP (voice over IP) wholesale business with a current focus on wholesale international long-distance traffic termination (the Wholesale Telecom business unit or B2B vertical of the business).
About Equinox Teleservices SRL
Equinox is a company founded in Dominican Republic and managed by a group of professionals with extensive experience in the telecommunications, technology and services areas. We provide a different perspective on adapting business solutions to the market, where efficiency and flexibility are the main keys to success. With more than five years' experience in the industry, ensuring that the services provide high quality, accuracy and low costs. Being the leading service platform in the field of telecommunications of the Dominican Republic, providing high quality service, based on cost effective solutions, generating an additional value for the benefit of our customers.
Equinox's headquarter in Santo Domingo with technical facilities in full operation as well as a back-office team highly motivated, to support the Sales office in USA.
Please visit https://www.upcointernational.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrea Pagani, CEO and Director
This press release contains forward-looking information or forward-looking statements (collectively "forward- looking information") within the meaning of applicable securities laws. Forward- looking information is typically identified by words such as: "will" "may" "believe", "expect", "anticipate", "intend", "estimate", "development", "forthcoming", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Upco cautions investors that any forward-looking information provided by Upco is not a guarantee of future results or performance.
These documents can be accessed from the SEDAR web site at www.sedar.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68747