TORONTO, Jan. 21, 2005 (PRIMEZONE) -- Bach-Hauser (Pink Sheets:BHSR) today announced that it has signed an agreement to acquire in whole POS TERMINAL 2000, Inc. The transaction is scheduled to close within 14 days and is subject to current due diligence being carried out by DM2's board of directors.
POS TERMINAL 2000 represents a good fit to sustain the growth of DM2 Technology inc. POS TERMINAL 2000 was created in 1980. It has a dynamic team of 22 employees (16 technician, 3 sales people, 2 accounting staff and 1 receptionist). The company has over 1200 installations of MAITRE D software in the Quebec market. The acquisition enables DM2 to branch out and offer the DM2 solution for processing transactions to over 35,000 MAITRE D installations throughout CANADA and the U.S. All those installations represent a huge potential for the DM2 solution. POS TERMINAL 2000 merchants will be converted to the DM2 processing solution for Credit and Debit card transactions. This acquisition will bring to DM2 a approximated volume of 100,000,000 million processed transactions per year. Each of those transactions represent a great source of new revenue for DM2.
Finally this acquisition will bring a background of experience that POS TERMINAL has developed in the past 20 years. It will also bring high level customers to DM2, here are some of the customers that POS TERMINAL 2000 serves at this point: (St-Hubert, Mikes, Cage aux Sports, Auberge des Gouverneurs, DaGiovanni, Boccacinos, Au Coq, Pacini, Buona Notte, Le Globe, Casey's, East side Mario, Le Four, Biftheque, CADDY, Fire & Grill, Soto, Sushi Shop, Subway etc.)
About DM2 Technology, Inc.
DM2 Technology, recently acquired by Bach-Hauser, Inc., is a provider of specialized POS equipment and software, which provides greater flexibility and reliability for debit and credit card financial payments. The company currently sells its products and services through traditional retailers, online retailers, taxis and courier companies. The Rogers Agreement will enhance the services and products provided to DM2's clients which include EasyHome and Teleplus stores.
DM2 Technology specializes in the sale of POS (point of sale) equipment and software to handle bankcard and credit card payments. DM2 Technology has been in the business of handling Interac and Credit Card transaction payments since the government of Canada deregulated this market. At present, DM2 has terminals in retail outlets in every province except for Newfoundland and PEI.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production, pricing levels or other factors pertaining to the manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's most recent SEC filings.