Converge Global’s TeleWrx, Inc. Subsidiary Signs Letter of Intent for Sales and Marketing Joint Venture
BOCA RATON, Fla.–(BUSINESS WIRE)–May 16, 2002
Converge Global, Inc. (OTCBB:CVRG) announced today that it has signed a Letter of Intent with ICR Services(R), Inc. that combines the sales and marketing strengths of both companies.
The alliance will allow ICR and its 50,000 plus sales force to sell and market the suite of telecommunications services offered by TeleWrx, including “The Wrx” package which includes 300 minutes of long distance and “Free” unlimited Internet dialup for only $19.95 a month. Likewise, TeleWrx and its sales force will be able to sell ICR’s diverse product offerings including financial services, health and automotive products.
“The joint venture sales and marketing agreement between ICR Services(R) and TeleWrx, Inc. is a ground-breaking event in the history of the direct marketing industry,” stated ICR Services(R) Co-Founder, President and CEO Bernadino Pavone. “As the 28th fastest-growing company in the U.S., we have to stay several steps ahead of the competition and this strategic partnership will provide us with first-class communication services that fit perfectly into our existing portfolio of world-class products and services. The bottom line with this joint venture is that we will provide our Representatives and customers with the industry-leading products to ensure their on-going and future successes.”
“Our ability to increase shareholder value by meeting and exceeding goals and projections is significantly enhanced by this dynamic relationship with ICR Services(R), Inc.,” stated Michael Brown, President and CEO of TeleWrx, Inc. and CVRG, its parent. Mr. Brown went on to say, “ICR will allow us to enhance our product offerings while immediately injecting revenue into TeleWrx through the migration of their long distance customer base that represents 250,000 end users. The ICR Services(R) communications customer base, which takes some companies years to build, TeleWrx will, as a result of this venture acquire overnight. Additionally, we will being adding to our professional direct selling force which will certainly give us a leg up right out of the gate.”
TeleWrx, Inc.’s business is focused on high quality, highly competitive residential long distance products that deliver “Communications that Work for You.” The Company offers communications services that allow the company’s home-based agents to approach the residential market with the most cost-effective, most technologically advanced, and highest quality communication services available today. A great product combined with the power of network marketing’s “One on One” selling has the potential to allow our distributors to build very successful home-based businesses, which should provide an opportunity for our company to achieve its goal of building value for our shareholders through the success of our distributors and their customer-gathering abilities. TeleWrx offers a broad range of telecommunications services for the domestic and international markets. Management plans to build its core business by obtaining loyal customers from the over 100,000,000 homes using long-distance services, by providing a bundle of communications services at a very competitive flat monthly rate that is easy to understand and meets the customers’ needs. TeleWrx offers residential and small business long distance, wireless services, Internet dialup (56K), calling cards, toll-free service, WAP (wireless application protocol) devices, and enhanced services such as “follow me” and nationwide “one number” services. In the current economic environment, home-based businesses have enjoyed explosive growth and experts predict that this growth will be fueled by the expanding markets and new technology in the communications industry. For more information visit the company’s website at www.telewrx.com.
ICR Services(R)was ranked the 28th fastest-growing company in the nation by Inc Magazine in 2001. ICR Services(R), Inc., headquartered in Livonia, Michigan, is a privately held direct marketing organization offering products in four major industries: financial, communications, health, and automotive.
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. Actual results of the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company’s dependence on third parties, general market and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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