News

Friendlyway to acquire Pantel Systems

April 4, 2006

SAN FRANCISCO - Friendlyway Corp., a provider of customer-facing self-service public access systems, announced in a news release that it has entered into a Letter of Intent to purchase all of the capital stock of Pantel Systems Inc., a privately held company located in Colorado Springs, Colo. Included in the purchase are exclusive rights to market and sell Pantel's e-Banking kiosk. The e-Banking kiosk comes standard with the ability to process money transfers, cash dispensing, debit card dispensing and reloading, as well as bill payment.

Friendlyway chief executive Alexander von Welczeck said, "We are extremely pleased to add Pantel to our portfolio of self-service solutions. More importantly, Pantel's business model provides for a recurring revenue stream via transaction-based revenue from the e-Banking kiosks."