iTalk Inc. (OTC: TALK) (OTCBB: TALK) reported it has signed a binding letter of intent to acquire New Zealand based Idataroam International Ltd. and its subsidiary Australian based Idataroam International Pty Ltd.
Idataroam provides data roaming solutions to travellers through the use of innovative technology and software solutions. IDR offers robust white label mobile Wi-Fi access services to the vehicle rental and passenger transport industries in Australia and New Zealand.
“The proven Idataroam technology and its established client base of multinational customers will permit iTalk to diversify its data business in the North American market and also expand into international markets,” said Clive Raines, iTalk´s New Zealand based director of Australasia and Europe Operations. “The acquisition of proven and tested intellectual property and platform from Idataroam will allow the rapid development of services for new global markets and existing iTalk services can be offered to the Australasian market.”
If the agreement is consummated, it is expected to be signed by all parties on or before the end of September 25th, 2013.
IDR is a leading mobile virtual network operator (MVNO) providing specialist mobile data services to regional and multinational clients in Australia and New Zealand from its head office in Auckland, New Zealand.
iTalk utilizes innovative and disruptive technologies to offer consumers the highest-quality low-cost no-contract alternatives to voice, data, and mobile services from major national carriers. For further information, visit www.italkmobility.com.