announces the closing acquisition of PowerDial Systems and PowerDial Services from Innovative Software Direct, a U.K. company listed on the PLUS Market.
UK–based PowerDial is an IT company providing VOIP and Asset and Annuity solutions covering all aspects of convergence, including voice, data, wireless and cable. They provide physical networks, onsite IT equipment, and applications that control the performance and integrity of networks and the data on those networks. In FY2009, PowerDial reported revenues of $2.7 million and expects to grow in FY2010 and beyond. PowerDial was acquired for 2,400,000 shares of IAGI common stock at $1.00 per share, with additional shares available for meeting certain performance metrics, for raising funds for acquisition of additional VOIP, IT or telecom companies and for the settlement of an ISD note payable.