IG2 Inc. Chooses Realtech for Design and Planned Deployment of Next-Generation Network
23 November 1999
IG2 Inc. Chooses Realtech for Design and Planned Deployment of Next-Generation Network
NEW YORK--Nov. 23, 1999--to 63 of the Largest Markets in the U.S.
IG2, Inc., a communications subsidiary of New York-based Fidelity Holdings, Inc's. Computer Business Sciences, Inc. (CBS), a Competitive Local Exchange Carrier (CLEC), has selected REALTECH Systems Corporation to assist in design for its planned deployment of a multimedia network for IG2's anticipated rollout of 620 central offices, to cover 48 percent of IG2's target market.
REALTECH Systems Corporation is a leading provider of Internet-infrastructure engineering services for Internet service providers, telecommunication carriers and enterprise organizations in need of secure, mission-critical communication networks.
The network, once designed and rolled-out, at an estimated value of over $75 million, is expected to provide voice, video and data services over existing phone lines in up to 63 of the largest markets in the United States, serving residential and small business customers.
"We chose REALTECH because we need premier networking consultants in the industry for this exciting roll-out," said Kimberly Peacock, Chief Executive Officer of IG2, Inc. "REALTECH's expertise will assist IG2 in fulfilling its business objectives of seeking to offer competitively priced communication services to our future residential and small business customers."
IG2 Inc.'s multimedia network platform is designed to provide end-users a cost-effective communications package through existing telephone wires already installed in the customer's home. Services in the package will include high-speed Internet access, local and long distance telephone service, television programming, television-quality video conferencing and e-Commerce capabilities.
"As an expert in carrier-class network engineering and consulting, we look forward to designing and deploying a network that will allow IG2 to offer the communication services that meets the needs of their customers for today and tomorrow," said REALTECH's Chairman and CEO Raymond M. LaChance. "REALTECH's `Best Practices' business model ensures that IG2 will receive the most appropriate consulting and design for this project."
About Fidelity Holdings, CBS, and IG2 Inc.
Fidelity Holdings has been a diversified holding company that utilizes information and technology to target industries experiencing consolidation and/or deregulation. The Company operates two divisions -- Automotive and Technology. The Automotive Division operates through Major Automotive Group, a leading consolidator of automotive dealerships in the New York Metropolitan Area. The Technology Division operates under Computer Business Sciences, its IG2, Inc. subsidiary, and its plastics subsidiary. Fidelity Holdings, Inc. is presently exploring the divestiture of its non-automotive activities by way of sale, merger, consolidation or other opportunities. Accordingly, all such non-automotive activities have been classified as discontinued operations in its financial statements. For additional information, visit the Company's three websites at www.fdhg.com, www.majorautomotive.com and www.majorworld.com.
About REALTECH Systems Corporation
REALTECH Systems Corporation, a privately held company, designs, implements and manages mission-critical, carrier-class voice, data and video network systems. REALTECH's rapid engineering and consulting services accelerate the time-to-market process for Internet service providers, telecommunication carriers and enterprise organizations so that these firms can quickly serve their end-users. Headquartered in New York City, REALTECH uses a standardized `Best People, Best Practices, and Best Partners' business model to ensure that clients receive the best performance from their secure, carrier-class network infrastructures. For more information, visit the company's web site at www.realtech.com.
The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's Annual Report on Form 10-KSB and other publicly available information regarding the Company, copies of which are available from the Company upon request. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company.