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Exhibit 99.1
TELEHUBLINK COMPLETES THE ACQUISITION OF MVP SYSTEMS, INC., A SOFTWARE AND
HARDWARE ENGINEERING COMPANY IN SILICON VALLEY
RESOURCES FOR SECURED WIRELESS ENCRYPTION TECHNOLOGY CONTINUE TO ACCELERATE
BURLINGTON, MA. August 7, 2000--TELEHUBLINK CORPORATION (OTC BB: THLC, THLCW;
HTTP://WWW.TELEHUBLINK.COM), a leader in secure wireless encryption technology,
announced today that it signed a definitive agreement to acquire all the
outstanding stock of MVP Systems, Inc., a software and hardware engineering
company based in Silicon Valley California. TeleHubLink Corporation is
acquiring this multi-million dollar acquisition with nearly all stock.
This acquisition will be instrumental in assisting TeleHubLink customize its
newly developed iNSECT(TM) wireless encryption technology to meet the needs and
specifications of OEM's such as Motorola, Ericsson, Nokia, Qualcomm, Texas
Instruments, INTEL, IBM, Lucent, Nortel, EMC, Seagate, Amati; and others.
Bruce Young, CEO and President of TeleHubLink, stated, "The acquisition of MVP
will speed up the development and engineering process of our iNSECT(TM)
technology. In addition this will enhance our timing to meet the aggressive
goal of deploying an ASIC microchip that will provide end-to-end security for
wireless transmission on devices such as cell phones, personal digital
assistants and other devices."
Chad Rao, President of MVP Systems, Inc., stated, "In the past six months we
worked closely with TeleHubLink on a critical project for the iNSECT(TM)
technology. During this time it became apparent that the market for securing
wireless cellular phones and other devices would be immense. We felt the
iNSECT(TM) technology will become a necessary component or standard on wireless
devices within the next five years. The acquisition is a natural progression
for us to team together and develop the products that will be demanded in our
expanding wireless world."
TeleHubLink recently made key announcements regarding its secured wireless
encryption business that include: (1) THLC has completed the development of its
first simulator demonstrating its iNSECT(TM) technology for secured wireless
encryption; (2) The Company launches a Technical Marketing Campaign which will
demonstrate the Simulator to some potential wireless Original Equipment
Manufacturers (OEM) such as Motorola, Ericsson, Nokia, Qualcomm, Texas
Instruments, INTEL, IBM, Lucent, Nortel, EMC, Seagate, Amati; and (3) THLC signs
agreement with Park Strategies, LLC, a company controlled by former Senator
Alfonse D'Amato of New York who will arrange business contacts, establish
customer meetings, advise on domestic and international opportunities and other
matters.
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ABOUT TELEHUBLINK CORPORATION:
TeleHubLink Corporation separates its functions into the following business
areas: Secure Wireless Encryption Technology, Internet Customer Contact Service
Center and Telecom Services. TeleHubLink Corporation has offices in Burlington,
MA, Freemont, CA, Carlisle, PA, Westborough, MA and two offices in Montreal,
Canada. TeleHubLink is headquartered in Burlington, MA (01803) at 24 New England
Executive Park and can be reached at (781) 229-1102 or at
HTTP://WWW.TELEHUBLINK.COM.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS:
This release contains forward-looking statements, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such forwarding-looking statements are not a guarantee of future performance and
involve known and unknown risks and uncertainties.
Company Contact:
John Lipman, Corporate Communications
TeleHubLink Corporation
(781) 229-1102 www.telehublink.com
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