PERTH AMBOY, N.J., Nov. 8, 2005 (PRIMEZONE) -- U.S. Starcom, Inc. (Pink Sheets:USTA), a leading provider of value-added prepaid services and solutions to the urban market, announced today that it signed a Letter of Intent to acquire Infinite Technology Group, Inc. (ITGI) of Bethpaige, New York. ITGI, established in 1991, is a broad-based supplier of information technology and other technical services to a variety of Fortune 1000 companies. Their clients include companies such as JP Morgan Chase, Citicorp, Time, Inc., and Hewlett-Packard. They have partnership agreements with Sun Microsystems and Apple Computer.
"ITGI is going to be a very important addition to U.S. Starcom," said John DiDomenico, President of U.S. Starcom. "ITGI brings much-needed technological depth into our organization. Their integration experience brings additional 'tip of the sword' dimensions to TeamStarcom, most notably in financial stored value and eCommerce applications. As the pre-paid international and wireless businesses converge with point-of-sale, ATM, and other platforms, Starcom is positioning itself to reap the benefits. With ITGI CEO Jim McGowan and CFO Barry Hintze added to our management team, we envision our customers enjoying incredible value in using our cards and pre-paid cell phones to access money, music and minutes. While we build the products, Jim and Barry bring the capability to integrate entire new systems, within casinos, store networks, and other 'point-of-sale' locations. We see huge growth ahead," said Mr. DiDomenico.
Jim McGowan, President and CEO of ITGI, said, "We are thrilled to be part of U.S. Starcom, and part of a public company. With the joint marketing opportunities this merger provides, and with the several million in ITGI retail sales of products and services, we have the potential to add substantially to the revenues of the combined companies."
About Infinite Technology Group, Inc.
ITGI, a privately held company headquartered in Bethpaige, New York, is a full-service provider of information technology services, including computer back-up, HIPAA, SOX and NASD compliance, as well as internal corporate governance solutions. Our partners include Sun Microsystems, Apple Computer, and other Fortune 100 technology providers. ITGI technical engineers helped rebuild bank clearance systems after 9/11, allowing the markets to reopen 9/15.
About U.S. Starcom
U.S. Starcom is a leader in providing value-added prepaid services and solutions to enhance communications and entertainment. With a sales distribution network extending to thousands of urban locations, and with no long-term debt, U.S. Starcom will continue its rapid expansion into the distribution of alternative communication products and services, including international long distance, prepaid phone cards, wireless dial around applications, stored value services and Internet service enhancements. U.S. Starcom is committed to providing affordable access to the latest entertainment offerings from the recording industry through strategic alliances and joint distribution campaigns.
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