SOURCE: ActiveCore Technologies

April 05, 2007 23:54 ET

ActiveCore Ends Discussions to Acquire Collective Point of Sale Solutions

TORONTO -- (MARKET WIRE) -- April 5, 2007 -- ActiveCore Technologies, Inc. (OTCBB: ATVE), a Company that operates as a payment technology solution provider, is announcing today that discussions to acquire Collective Point of Sale Solutions Ltd. (CollectivePOS) have ended. This transaction was terminated because a financing structure suitable to both companies could not be reached and the ActiveCore Board and management were concerned that the transaction had become overly dilutive for the ActiveCore shareholders.

ActiveCore had planned to use the CollectivePOS acquisition as a base to launch a Merchant Services consolidation strategy that would have provided an immediate and expanding client base for the implementation of its other payment products. This strategy remains valid and the Company will continue to pursue this course. The Company has already identified a number of other similar targets and will immediately switch its efforts to acquiring one of them in the next 60 to 90 days. ActiveCore plans to complete an acquisition by the end of its second quarter and will ensure that the acquisition delivers both shareholder value and management chemistry that works to the long-term advantage of the ActiveCore shareholders.

Peter Hamilton, Chief Executive Officer of ActiveCore, stated, "I am disappointed that the transaction could not be completed to the advantage of both organizations and that the management teams could not reach a consensus on a final financing or control structure." Mr. Hamilton went on to say that "CollectivePOS is an excellent company but not the only company in this space that ActiveCore has been in discussions with and the Company will now turn its attention to closing one of those other targets as well as continuing to pursue the numerous sales opportunities for its CyBux and ePocket products that have resulted from recent marketing activities. However, due to the synergies of the ActiveCore and CollectivePOS products, we will continue to pursue a possible business partnership with them in the near future."

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 http://www.Agoracom.com/IR/ActiveCore.

About ActiveCore Technologies, Inc. (www.activecore.com)

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.

Statements contained in this news release regarding ActiveCore Technologies, Inc. formerly IVP Technology and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.

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