Business Services Industry
PTEK Holdings Renames Its Fax Business Unit
Business Wire, April 10, 2000
Business Editors & Technology Writers
ATLANTA--(BUSINESS WIRE)--April 10, 2000
World's Largest Enhanced Fax Delivery Service Branded Xpedite
PTEK Holdings, Inc. (NASDAQ: PTEK)(www.ptek.com) today announced that it has renamed its fax unit as Xpedite. Xpedite serves the business-to-business fax needs of its 12,000 active customers, which includes 40% of the Fortune 500, by providing reliable fax document distribution services available at any time. The company delivers up to six million fax document pages a day and has operating centers around the globe with message distribution nodes and sales offices in more than 80 cities worldwide, including all leading financial centers.
The name change completes the company's transition to an independent business unit of PTEK Holdings, allowing the market to evaluate Xpedite separately from its other assets. PTEK Holdings recently announced it has adopted an "opervesting" business model directed at growing its network of leading Internet-based service providers through its strategic Internet investment arm, PTEKVentures. Through the PTEK network, Xpedite intends to leverage its relationships with other PTEK companies for additional revenue growth and will have access to additional technology resources for Internet product development.
"The new `opervesting' structure allows for greater autonomy, which will enable the market to independently value our business," said Max Slifer, President of Xpedite. "Under the new structure, Xpedite will be able to more quickly bring new products and services to market. We plan to capture an additional share of the fax market by leveraging our relationships with other members of the PTEK network, and we also will introduce new Internet-based distribution services, such as MessageREACH(SM), our new outsourced e-mail service."
International Data Corporation (IDC) projects that the enhanced fax document distribution market will be $2.7 billion by 2002, with an 18% compounded annual growth rate. Xpedite is currently expanding the company's focus from fax to Internet-enabled services.
About Xpedite, Inc.
Xpedite, Inc. (www.xpedite.com) is a global leader in electronic information distribution and a subsidiary of PTEK Holdings, Inc. (NASDAQ: PTEK). The company offers a full range of electronic- and fax-based document distribution and data messaging services using the industry's first and the world's largest dedicated IP network. Xpedite processes up to six million document pages every day to all types of electronic addresses, including Internet, e-mail, fax and telex. Xpedite's diverse client base includes such industry leaders as Boeing, First Union, Merck, Bell Atlantic, as well as 40% of all Fortune 500 companies. Xpedite has sales offices in 30 locations throughout the U.S. and 18 international offices including: Tokyo, London, Sydney, Seoul, Singapore, Brussels, Munich and Paris.
About PTEK Holdings, Inc.
PTEK Holdings, Inc. (NASDAQ: PTEK) is a network of leading Internet and business-to-business service providers. The Company's PTEKVentures investment arm has ownership interests in Healtheon/WebMD (NASDAQ: HLTH), S1 Corporation (NASDAQ: SONE), USA.NET, Webforia, Derivion, i2Go and BuyTrek. PTEK's wholly owned operating companies include Xpedite, Voicecom and Premiere Conferencing. PTEK leverages the technologies, management expertise, market channels and capital of its network to drive growth and promote market leadership throughout its operating and network companies.
PTEK Holdings corporate headquarters is located at 3399 Peachtree Road NE, The Lenox Building, Atlanta, GA 30326. Additional information can be found at www.ptek.com.
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the `safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. A variety of factors could cause actual results to differ materially from those anticipated in PTEK's forward-looking statements, including the following factors: PTEK's ability to manage its growth and to respond to rapid technological change and risk of obsolescence of its products, services and technology; market acceptance of new products and services, including Orchestrate(R); development of effective marketing, pricing and distribution; strategies for new products and services, including Orchestrate(R); competitive pressures among communications services providers may increase significantly; costs or difficulties related to the integration of businesses, if any, acquired or that may be acquired by PTEK may be greater than expected; expected cost savings from past or future mergers and acquisitions, may not be fully realized or realized within the expected time frame; revenues following past or future mergers and acquisitions may be lower than expected; operating costs or customer loss and business disruption following past or future mergers and acquisitions may be greater than expected; the success of PTEK's strategic and other distribution relationships, including the amount of business generated and the viability of the strategic relationships, may not meet expectations; possible adverse results of pending or future litigation; risks associated with interruption in PTEK's services due to the failure of the platforms and network infrastructure utilized in providing its services; risks associated with the Year 2000 issue, including Year 2000 problems that may arise on the part of third parties which may effect PTEK's operations; risks associated with expansion of PTEK's international operations; general economic or business conditions, internationally, nationally or in the local jurisdiction in which PTEK is doing business, may be less favorable than expected; legislative or regulatory changes may adversely affect the business in which PTEK is engaged; and changes in the securities markets may negatively impact PTEK.
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