iRV, Inc. Completes Acquisition of Print Firm, MarketEdgeDirect
Press release from the issuing company
BOULDER, Colo.--Aug. 13, 2002--iRV, Inc., doing business as Scarab Systems, is pleased to announce that effective August 7, 2002, the company has exercised its option to acquire all of the outstanding shares of MarketEdgeDirect, www.marketedgedirect.com. MarketEdgeDirect is an eight year old privately held British Columbia corporation.
MarketEdgeDirect is a provider of a wide range of marketing products and services with expertise gained working with national companies including Starbucks, 7-11 Food Stores and HSBC. As well as corporate clients, the company currently works with a diverse group of sports teams, hospitals and charitable organizations. As a pioneer in marketing for online clients, the company is a leader in direct mail, email, customer loyalty and reward programs, in addition to conventional and digital printing.
Mr. Gian Perroni, company president, stated, "We are excited with the opportunities this new relationship provides in terms of expansion into new markets through providing our marketing expertise to iRV, in addition to providing iRV's payment solutions to our existing client base." Mr. Perroni further added, "The rollout of such innovative payment solutions provides an opportunity to significantly enhance our bottom line and that of our clients."
With 2002 year to date sales of USD 1 Million, projected for the year to come in at USD 2.1 Million, MarketEdgeDirect is experiencing a healthy increase in sales for the current year, as sales for fiscal year 2001 were USD 1.1 Million.
"The companies offer complementary services which will have synergistic value for both. MarketEdgeDirect will enable Scarab to accelerate distribution of its payment solutions. MarketEdgeDirect's profitability will also add to Scarab's financial strength," stated Thomas Mills, President of Scarab Systems.
Scarab Systems provides marketing and financial services with applications in e-commerce and transaction processing in addition to distributing specific technology services. Services include rechargeable stored value payment and money transfer systems that can be used for both e-commerce and point of sale purchases.
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