QI Acquires United Networks

HONG KONG -- QI Ltd, the Hong Kong based conglomerate announces today that it has acquired the operating assets of United Networks Limited, one of UK’s largest privately held telecom companies.

The newly acquired telecom operation will be renamed Qi Comm Ltd., it will bolster QI Group’s global Media Works and Technology business. Qi Comm Ltd is positioned as a fully vendor independent System Integrator (SI) and a leading provider of outsourced switching services both in the UK and internationally. Qi Comm will also continue to adopt specialist supply and distribution of selected systems to create added value to its clients and customers.

Qi Comm aims to leverage its extensive customer base of International Operators in developing markets to offer competitive international routing and traffic termination for both circuit switch and IP switch services. Qi Comm will continue to support the rollout and implementation of xDSL and other Broadband services, placing special emphasis on the deployment of Multi Services Networks to support telco and ISP rollout IP services. Qi Comm aims to become a competence centre for all aspect of IP and convergence networking including the delivery of fully managed "white glove" services such as VoIP.

The acquisition of brings together in perfect synergy QI’s solid financial, management and administrative strengths with the strong technical and market leadership of the new UK operations. This is a strategic move which builds on QI’s popular web based telecom account management system, "i-connect".

Commenting on the acquisition, Richard E Zinkiewicz, Group Director of Finance, QI Ltd. said, " with the addition of Qi Comm to our growing portfolio of business and services, QI Group continues on its global expansion strategy. Increasing our business with telecom operators and ISPs and the development of new services such as fully managed outsourced VoIP is an important area for Qi Comm development. This acquisition positions us as a serious player in the European Telecom industry and gives us the presence needed to establish and maintain a long-term base of operations in Europe and at the same time position us for future growth. Qi Comm will also play a major role in strengthening the backend operations of i-connect, our fast moving telecom product by our subsidiary company Quest Technologies."