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Providential Holdings Orchestrates Plan for Entec Software to Become a Publicly Traded Company
TUESDAY , MARCH 02, 2004 04:54 AM
FOUNTAIN VALLEY, Calif., Mar 2, 2004 (BUSINESS WIRE) -- Providential Holdings, Inc. (OTCBB:PRVH)(Berlin and Frankfurt Stock Exchanges:PR7, WKN 935160), www.phiglobal.com, today announced that its wholly-owned subsidiary Providential Capital has signed an agreement to assist Entec Software, Inc., a subsidiary of Nettel Holdings, Inc. (OTCBB:NTTL)(Berlin and Frankfurt Stock Exchanges:NT7, WKN 727487) in Entec's merger plan with a fully-reporting public company. Entec Software is expected to be traded on the NASDAQ's OTCBB in the US by the end of this month and will also be listed on other international markets in the near future.
Entec Software, with offices in the US and Vietnam, is staffed with more than one hundred software engineers and programmers to provide the best quality Information Technology Solutions and Consultancy Services to its customers. More than just a software developer, Entec offers a total and complete solution to any business organization in terms of improving the information system in an organization as well as improving the competitive edge of its business.
Thanks to its expertise and in-depth knowledge in Financial Accounting and Telecommunication Software, Entec is able to provide an efficient accounting and Telecommunication system that is customized to suit all areas of businesses any organization is in. Entec also has its own development teams that utilize all the latest technologies from Microsoft. With such expert knowledge in hand, it has successfully developed a vast variety of software ranging from vertical application software, including debt control management, service management, point of sales applications, telecommunications, and banking applications. All these software are Internet-ready, robust and fully scalable.
As such, Entec specializes in providing customized solutions to meet the requirements and needs of any organization and is able to provide dynamic e-Business solutions that are not just front-end standalone solutions but are fully integrated with the back-end applications.
URL's: US Office: www.entecsoftware.com; Vietnam Office: www.entecsoftwarevn.com.
Providential will receive a significant equity stake in Entec for its consulting and advisory services and continue to assist Entec with respect to corporate strategy, corporate governance, investment banking and further merger and acquisition plans in the future.
About Providential:
Providential Holdings, Inc. (PHI) is a diversified holding company committed to creating shareholder value through growth. The company focuses on selective technologies, capital and financial services, international markets and special situations.
Products and services include mobile entertainment systems, information technology, identification technology, infrastructure development, telecommunications, trade commerce, and mergers and acquisitions, especially in the U.S. and emerging overseas markets with high potential for growth.
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