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Battelle, which operates PNNL for the Department of Energy ("DOE"), holds the rights to FEDS and granted the license to EMTI. While business was just starting at FEDS the Company thought it prudent to accept the offer to sell it in order to better focus on oil and gas as well as Asian payment processing. First Ecom and its Asian payment processing operations, which will carry on business as First Ecom Systems Limited, have provided for FEDS to continue processing their existing customers' transactions and may arrange FEDS processing for future customers as well. |
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