Principals, Paul Siska-Goytre, chief financial officer and Dennis Puckett, chief executive officer, secured the deal on the basis of their 30 years experience in the telecommunications industry, said Siska-Goytre, speaking with Wednesday Business from TouchPoint's corporate offices in Miami.

Profiles on the two men detail Puckett's involvement in the American telecoms sector since 1972, while Siska-Goytre has South American roots, and claims connection to Conecel, a telecoms company in Ecuador.

"This company (TouchPoint) has not operated under any other name," said Siska-Goytre. "It was a newly formed company whose purpose was actually to purchase NetServ."

The investor said he and Puckett have had other companies related to call centres, the last of which was sold in 1998 with provisos that they do not compete for three years. They run their new Jamaican acquisition from Miami, visiting at intervals, but have a resident administrator in place ­ Rose Skinner ­ who has worked with the former tele-betting operation, English Sports, and the Montego Bay Free Zone Company.

PriceWaterhouseCoopers which managed the sale on behalf of the National Investment Bank of Jamaica seems satisfied that they have made a good choice.

"If you remove the corporate veil and look at the individuals themselves, they have had a long history in call centres and telecommunications. Their background seems quite satisfactory in that manner," said Wilfred Baghaloo who has worked alongside receiver John Lee on the deal.

As part of the sale, PriceWaterhouse has stipulated certain cash flow requirements and liquidity controls, given the problems that landed NetServ in receivership in December 2001.

"All the controls built in pertain to ensuring that the operation is liquid," said Siska-Goytre.

The financial officer would not comment on the specifics, noting that he has signed a confidentiality agreement which bars TouchPoint from giving details of the deal without PriceWaterhouse's approval. The deal was closed October 15 and the parties have 30 days after that to wind up the paperwork.

Baghaloo said no details would be released until the deal is fully complete, including the full extent of NetServ's indebtedness. However, the new owners will be responsible for personnel and servicing the NIBJ loan that financed the company's start up.

TouchPoint is headquartered in the offices formerly owned by NetServ, at 444 Brickell Avenue, Miami. So far the company has invested a total US$2 million (J$98m), says Siska-Goytre, in setting up its operation in Miami which employs five persons, Atlanta which employs one, and in Jamaica.

The US$750,000 downpayment on the US$4.25 million sale price for NetServ's assets and operations, is included in the total invested, with the remainder being largely working capital. The company has six years at LIBOR plus 2.5 per cent to finalise the payments.

TouchPoint assumed control of the operation with 32 employees, 17 of whom were operators, and is now hiring - 15 this week - with plans to have 100 operators in by December.

According to Siska-Goytre, TouchPoint has already secured three contracts from American companies worth a combined US$100,000-150,000 per month, and has another six to eight deals working on.

NetServ had debts of J$177 million to NIBJ when it was placed in receivership in December 2001, and US$600,000 to its equipment supplier, ActiveLink. "There were some liabilities that we took over (example, personnel), but we can't say the amounts without approval," said the financial officer. "There are others that PriceWaterhouse had to settle, like all operational expenses of the receivership."

A portion of the liabilities, for example those relating to personnel have been assumed by TouchPoint. The old NetServ operation had 290 stations at the time of closure, and the new owners plan to grow the operation back to that level within a year.

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