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January 29, 2008 |
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IPVG CORP: Seeks Non-Disclosure Deal with PeopleSupport on Offer IPVG Corp. is proposing the execution of a non-disclosure agreement with PeopleSupport Inc. to facilitate the exchange of non-public information regarding its offer to acquire the business process outsourcing company. In a letter to PeopleSupport, the company said it needs PeopleSupport to sign an NDA before it could provide information regarding the financing structure of its offer. IPVG, together with AO Capital Partners, is proposing to buy PeopleSupport for US$17 per share after PS rejected the earlier offer of US$15 per share, stating that was inadequate and does not consider PS's strategic value and success. IPVG Corporation -- http://www.ipvg.com/ -- is engaged in the information technology and communications business with interests in Information Technology and Telecommunications; On- line Gaming; and Business Process Outsourcing. IPVG reaches its customers through collaboration with international corporations that have proven to be market leaders in their respective geographic markets and industries. Its current partners include Fortune 1000 companies listed on the New York Stock Exchange, such as Pacific Century Cyberworks Inc. and IDT. The company can offer established product and proprietary business knowledge to the Philippine market by pairing each of its business subsidiaries with strategic partners. The TCR-AP reported on May 15, 2007, that the corporation posted a net loss of PHP102.1 million for the year ended Dec. 31, 2006, the company's third consecutive annual net loss after PHP43.0 million in 2005 and PHP6.2 million in 2004. |
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