Roundup: ChinaTel, Celistics, Alternet Systems

- Monday, July 25, 2011

Roundup: ChinaTel, Celistics, Alternet Systems

US firm ChinaTel Group has completed all corporate, legal and other actions necessary to change its name to VelaTel Global Communications, the firm said in a statement.

"While a number of our projects are based in China, we are approaching the launch date of our wireless broadband network in Peru, and we are exploring and in some cases actively negotiating transactions for projects in many other countries in Eastern Europe, South America and Asia," company CEO George Alvarez said.

"Based on our global approach to delivering wireless broadband access to subscribers in emerging markets worldwide, we've now outgrown the name ChinaTel," added VelaTel president Colin Tay.

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VelaTel owns a 95% stake in Peruvian telecoms operator PeruSat.

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Celistics, a company that specializes in logistics and distribution solutions for the mobile telephony and technology sectors, has launched operations in Costa Rica, the firm said in a statement.

For this operation's development, Celistics is projected to reach a turnover of US$40mn annually, resulting in the creation of more than 50 jobs within six months.

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US hosted application services provider Alternet Systems has arranged a non-brokered private placement, the company said in a statement.

The placement's proceeds will be used to finance the company's growth plan in the segments of mobile value-added service markets, mobile commerce, and digital and mobile security.

In the June 15 transaction, a new investor purchased 3.33mn common shares for US$500,000.

Headquartered in Miami, Alternet Systems has presence in 17 countries throughout Latin America.