Globel Direct Inc., Calgary, Alberta has entered into a letter of intent to acquire Calgary-based Globel Enterprises Inc. (GEI).
Globel will purchase all of the outstanding common shares of GEI by issuing up to 4.5 million new company shares with a deemed value of between $1.65 and $1.75 per share.
GEI provides direct-to-consumer communication technology to companies. It recorded revenues of $8 million for the fiscal year ended May 31. Globel is a technology-based media and communications company, which offers print direct mail, telephony call-center systems and the company’s proprietary Internet direct marketing solution.
Together, the entities will create one of the largest multi-services direct-to-customer communications companies in Canada.
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