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PayStar inks another kiosk deal

February 18, 2002

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LODI, Calif. - Continuing a wave of kiosk purchases that began this past summer, PayStar Corp.(OTCBB:PYST) announced on Jan. 8 that it has acquired nearly 200 public access Internet kiosks from Get2Net. The kiosks are located primarily at airports, including John F. Kennedy and LaGuardia international airports in New York City and Newark International Airport.

PayStar plans to convert the kiosks into pay-for-use units using the company's Gold Sprocket software.

"The purchase will increase annual revenues up to $3 million and provide PayStar with strategic placements in high-traffic locations across the U.S. and affords PayStar global opportunities through Get2Net's international operations," W.D. Yotty, PayStar chairman and chief executive officer, said in a news release.

PayStar's recent acquisition frenzy began last July, when it signed a deal to purchase nearly 1,000 public Internet kiosks from eKiosk Corp. of New Lenox, Ill. (See story: PayStar buys eKiosks's kiosks).

That deal eventually fell through, but other deals to purchase kiosks from iCatcher Network Inc. (See story: PayStar completes one deal, cancels another) and NP Communications (See story: PayStar adding kiosks to network) have either been completed or are moving forward.

In early trading on Jan. 9, PayStar stock was at 11 cents, down one cent on the day.