SOURCE: ActiveCore Technolgies

January 26, 2007 07:30 ET

ActiveCore Completes Acquisition of CyBux Ltd.

TORONTO -- (MARKET WIRE) -- January 26, 2007 -- ActiveCore Technologies, Inc. (OTCBB: ATVE), a Company that operates as a solution provider in the global electronic payment industry, today announced that it has completed the acquisition of CyBux Ltd., a payment solution provider based in Vancouver, British Columbia.

The acquisition of CyBux serves to further strengthen ActiveCore in three major ways:

1) It brings an important new technology asset to ActiveCore that will immediately complete the payment suite of products that ActiveCore requires to deliver its revolutionary ePocket digital coin-based solution to the market.

2) CyBux has successfully used its unique payment technology to provide a 'student payment solution' within the North American school community and has identified the potential to address the needs of a student population in excess of 76,000,000 with a pre-paid debit card account, eliminating the need for the use of cash in school related purchases. Their research has shown that each of these students have an average relevant spend of between $500-$700 USD per school year. Based on ActiveCore's commitment to expand this initiative, revenues projected to reach between $4-5 Million USD can be generated during 2007, which represents approximately 1% of the overall market.

3) ActiveCore will also benefit from the valuable relationships that have been established between CyBux and major Chartered Banks across North America, all of whom will serve to simplify the process of funding the ePocket wallet.

With the addition of the CyBux system, ActiveCore's e-commerce payment solution software will allow its customers to choose the appropriate payment method to fit the security and technology characteristics required for many different types of payment transactions. Extending ActiveCore's ePocket digital coin technology through the CyBux account-based system will allow ActiveCore's customers to facilitate payment transactions using account based, token based, or hybrid payment models in either open or closed payment systems.

Peter Hamilton, CEO of ActiveCore stated, "I am very pleased that we have completed the final steps required to conclude this acquisition. The CyBux product provides ActiveCore with another very valuable technology asset that can be coupled with the ePocket digital coin offering or can continue to be sold right now as an alternative stand alone solution for micro payments in the expanding digital content and youth market. The fact that the CyBux acquisition adds both a new technology asset to our company as well as an alternative revenue stream will result in an accelerated commercialization of our payment solutions."

Tom Lennox, CEO of CyBux Ltd., stated, "I am very impressed with the progress that ActiveCore Management has made towards creating a pure payment company over the past 7 months. It's never an easy decision to change the direction of your core business, however ActiveCore realized the enormous potential of its digital coin technology and took the necessary steps to seize this incredible opportunity. I firmly believe that the co-joining of ePocket and CyBux technology has unending potential to completely revolutionize the payment industry."

Neil Fishenden the CEO of ePocket stated, "This acquisition provides the final element of technology required to realize the vision of the Company to become a world-class payment technology solution provider." Mr. Fishenden went on to say that, "we believe that the proven success of the CyBux student payment solution coupled with its existing market focus on schools and the expansive student demographic provides ActiveCore with an invaluable platform for further expansion of our digital coin technology into the youth and digital content marketplaces."

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit ActiveCore IR Hub located at

About ActiveCore Technologies, Inc. (

ActiveCore Technologies, Inc. operates as a payment technology solution provider, primarily in the on-line payment market. Our products encompass a variety of payment technologies as well as our own integration tool kit and direct marketing software platform that allows us to better support our payment technology clients.

About ePocket Digital Coin Technology (

ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like real cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like real cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.

About CyBux (

CyBux has created an integrated online payment system across Canada involving most major banks and credit unions. This network encompasses thousands of financial institutions and provides a highly secure account based payment system for use on the Internet. Consumers do not have to give up any credit information in order to accomplish a payment and can set-up an account and begin using the system by simply providing an email account. The system is low cost, making it ideal for micro-payments and a replacement for existing online payment methods and subscription systems.

Contact Information