International Technologies Corp. Enters into Agreement with South Korea's MPIO Co.
BC’s International Technologies Corporation (ITC) has entered into agreements with South Korea’s MPIO Co. Ltd., Digitalway Co. Ltd. and its US subsidiary Digitalway Inc. whereby ITC will acquire the exclusive rights to all MPIO manufacturing, branding and sales accounts for the US, Mexico, and Central and South America. ITC signed an exclusive dealership agreement with MPIO in exchange for 2M common shares of ITC at a deemed value of C$0.50 per share. ITC also purchased all of the issued and outstanding shares of Digitalway Inc. for 1M ITC shares. The acquisition will provide ITC with Digitalway Inc.’s existing US operations, distribution channels and productions. ITC is a global provider of digital audio, multimedia, home entertainment, flat screen monitors/televisions and other advanced electronics products.Published: October 03, 2005
Information summarized from: International Technologies Corp. Press Release