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Reached Agreement with Genius Link Holdings Limited for Capital Investment
TORONTO, Ontario, January 18, 2007 – KONNET Technology Inc. (KONNET), one of leading audio/visual component provider in Canada, had successfully reached the agreement with Genius Link Holdings Limited (GLH), an international venture investment company on strategic alliance.
GLH and KONNET had reached agreement that GLH will invest a significant amount of funding in exchange of KONNET’s share for expanding the KONNET product family along with High Definition TV arena and extending the market coverage from North America to global reaches.
Under this strategic alliance, GLH agreed to inject a sizable amount of funding into KONNET operation. The whole investment will be divided into three phases over the coming three years. With this sizeable funding, KONNET is required to fulfill the following management objectives:
• To enrich the product family with dedicated focus on High Definition TV area;
• To extend the product portfolio into non-electronic product items;
• To reengineer the current supply chain in order for go-to-market efficiency;
• To revisit the current manufacturing costing and to achieve cost efficiency; and
• To expand the market coverage beyond North America to Asia, especially the PRC market.
About Genius Link Holdings Limited
Genius Link is a global investment house with major investment directions in fast moving consumer goods (FMCG) and natural resources. After 2001, the company had been reformed and had minimized her focus on dotcom or information technology area and stayed back with traditional business development. The current major focus of venture opportunities is to link up with world class quality products and bring into the fast growing Asian market.
About KONNET
KONNET is a leading developer of audio/video components for enhancing the performance and stimulating the true quality of digital entertainment in Canada. KONNET’s product development team specializes in designing and developing both electronic and non-electronic components with innovative ideas in order to provide premium A/V quality and convenience for new generation of digital entertainment users.
Contacts:
KONNET Technology Inc.
Kevin Rich
• Tel: 1.647.7240628
• Fax: 1.647.435.0350
• Email: enquiry@konnetonline.com |
