E-Dentity Acquires Tele-Comp Solutions
June 18, 2009
E-Dentity Solutions Inc. (asi/90841), a new company specializing in electronic promotional products, has acquired the assets of Illinois-based Telephone Products Inc. The deal makes E-Dentity the owner of the Tele-Comp Solutions brand of telephone and telecommunications equipment. "We had made an offer to acquire Telephone Products but the deal didn't work out," says Joeri Vandenherik, president of E-Dentity. "So we worked out a deal with their bank before their assets went to auction."
According to Vandenherik, Telephone Products had been in financial difficulty for several months preceding the transaction. Vandenherik says E-Dentity finalized a bank deal one day before Telephone Products' inventory, intellectual property and remaining assets were set to be sold at an auction. "They owed money to their bank and we were trying to get a deal done," says Vandenherik. "When it didn't happen, we incorporated."
E-Dentity has retained the Tele-Comp Solutions Web site and has assumed Tele-Comp's ASI number. E-Dentity will continue Tele-Comp's product line, which includes flash drives, photo frames and phone accessories. "Our strategy is to maintain stock levels and offer quality products at a good market price," says Vandenherik.
E-Dentity has retained the eight remaining Tele-Comp employees, which will enable uninterrupted in-house printing and other services. Vandenherik says E-Dentity "is looking for good salespeople" to add to its staff. E-Dentity, which was founded as an American company in April, is led by a foreign management team with 35 years of experience in selling promotional products globally. "We believe in the U.S. as a market and we see better times in Q3 and Q4," he says. "Our outlook is positive."