GRSNetwork and Asia Travel Network to Form a Technology Business Relationship

GRSNetwork (GRS), an international B2B2C Internet infrastructure technology company for traditional and online travel agencies, travel suppliers and home-based agents, has signed a Letter of Intent (LOI) to form a technology business relationship with Asia Travel Network Sdn Bhd (ATN). ATN operates Asiatravelmart.com, Asia`s Number One On-line Travel Marketplace offering more than 110,000 products from over 43,000 suppliers.
Based on the LOI, GRS and ATN will mutually integrate their respective technology platforms so that each party and their affiliates/business partners will have access to license the other company`s respective offerings. ATN will be able to license core GRS products including TravelExpert, CruiseExpert, TourExpert, ResLink and GRStwist. GRS will in turn be able to license from ATN, content from ATN`s Online Travel Reservation System (OTRS) as well as the Payment Gateway. The Payment Gateway, Secure Electronic Settlement (SES), is the only available system in Asia and in the world that support multi-currency transactions over the Internet. In addition, GRS has shown further interest in a B2B travel solution, Business Travel Management System (BTMS), designed and developed by AFOOFA, a technology division of ATN, and will seek to distribute this travel solution in the United States.
Both parties shall explore cross licensing each other`s technology solutions. This business relationship will synergise the two companies` strength to achieve their respective business objectives at a lower cost and shorter time to seize the global market.
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