AMSTERDAM, THE NETHERLANDS — (Marketwire) — 08/09/11 — Elephant Talk Communications, Inc. (OTCBB: ETAK) (), an international provider of business software and services to the telecommunications and financial services industry, today announced a joint venture with MECO Holding AG () to launch mobile venture network enabler (MVNE) platforms in the UK, Europe, and Canada.
The Elephant Talk-MECO venture will initially focus on up to ten countries, starting with MVNE platforms in Italy, Germany and the UK. Within the next years, they intend to complete MVNE platforms in Switzerland, Portugal, France, Greece, Ireland, Austria, and Canada. The total investment in the joint venture will be up to $50 million, with Elephant Talk retaining a 51 percent interest.
“We are already present in The Netherlands, Spain, Belgium, and Saudi Arabia with our Full Mobile Virtual Network or full Brand Enabler platform,” said Martin Zuurbier, CTO of Elephant Talk Communications Inc. “This agreement with MECO moves us toward our goal of providing Elephant Talk services worldwide. Our new joint venture creates a significant opportunity for Elephant Talk to increase its revenue base in the higher margin MVNE platform business.”
Shasheill Kumar, Business Development Director of MECO said, “We have found a strong technology partner in Elephant Talk. Its highly flexible and multifunctional MVNE platform, which has extensive prepaid and postpaid features, fulfills all the criteria which we require for our mobile business that we are going to market with our strong relationships we have in the retail sector.”
Mr. Kumar cited numerous capabilities of Elephant Talk in conjunction with its wholly-owned subsidiary, ValidSoft, are expected to benefit MECO-s plans for mobile financial services. These include mobile payments, Near Field Communication and high security. In addition, MECO-s carrier services business will benefit from MECO-s joint venture with Elephant Talk.
About Elephant Talk Communications
Elephant Talk Communications, Inc. (OTCBB: ETAK) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit ().
About ValidSoft
ValidSoft is a subsidiary of Elephant Talk Communications, Inc. (OTCBB: ETAK), () and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft-s solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit ().
About MECO Holding AG
MECO Holding AG is a Swiss-based holding company with subsidiaries being successfully active in multiple countries (throughout Europe and the US) in the business of prepaid calling cards, value added services, SMS and wholesale. MECO-s strong relations in distribution and retail will allow MECO to launch new MVNO-s using Joint Venture MVNE platforms as well as other ET MVNE platforms. MECO and its subsidiaries will look to migrate their global customers onto all Elephant Talk-s mobile platforms.
Forward-Looking Statements
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company-s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company-s industry, management-s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company-s filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.
Contact:
Elephant Talk Communications, Inc.
Mr. Steven van der Velden
Tel: + 31 20 653 59 16
Investor Relations:
Alliance Advisors, LLC
Thomas P. Walsh
Tel: + 1 212-398-3486
ValidSoft:
Emmanuelle Filsjean
Tel: +44 (0)20 3170 8999
Email:
Meco Holding
Mr. Shasheill Kumar
Tel : +44 208 088 0090
Email :
You must be logged in to post a comment Login