LightSquared and netTALK Sign Long Term 4G-LTE Wholesale Agreement
RESTON, Va. and MIAMI, June 28, 2011 /PRNewswire/ -- LightSquared™, the nation's first wholesale-only integrated 4G-LTE wireless broadband and satellite network, and netTALK.COM, INC. ("netTALK"; OTCBB: NTLK), a telecommunications and consumer electronics company offering a variety of innovative, easy-to-use products designed to help consumers save money on phone calls and more, today announced that they have entered into a multi-year wholesale agreement.
Under this agreement, netTALK will become a wholesale customer on LightSquared's 4G-LTE network, and will develop its own branded voice and high-speed mobile data services for its customers. This partnership represents a major step toward making the latest generation of mobile services available to netTALK's fast-growing customer base throughout the United States.
"Our partnership with LightSquared helps fulfill our vision of delivering the most advanced communications services to customers throughout America," said Anastasios 'Takis' Kyriakides, president of netTALK. "With LightSquared's wholesale business model, we also now have an opportunity to serve new customer segments with very competitive services."
"We are extremely excited to provide netTALK with access to the wireless broadband capabilities of the LightSquared network," said Sanjiv Ahuja, chairman and chief executive officer of LightSquared. "This agreement reaffirms LightSquared's commitment to enable new and innovative companies such as netTALK to compete in the U.S. wireless market.
LightSquared's mission is to revolutionize the U.S. wireless industry. With the creation of the first-ever, wholesale-only nationwide 4G-LTE network integrated with satellite coverage, LightSquared offers people the speed, value and reliability of universal broadband connectivity, wherever they are in the United States. As a wholesale-only operator, LightSquared will deploy an open 4G network to be used by existing and new service providers to sell their own devices, applications and services – at a competitive cost and without retail competition from LightSquared. The deployment and operation of LightSquared's network represent more than $14 billion of private investment over the next eight years. For more information about LightSquared, please go to www.LightSquared.com, www.facebook.com/LightSquared and www.twitter.com/LightSquared.
About NETTALK.COM, INC.
netTALK.COM, INC. (OTCBB: NTLK) is engaged in the design, distribution and sale of products and low-cost VoIP services. NetTALK's DUO and other products offer free calling to any phone in the U.S. and Canada from anywhere in the world. A Laptop Magazine Editor's Choice product, designated "Business-Ready" by PCWorld, the DUO is the smallest VoIP analog telephone adapter in the world. The netTALK DUO and other innovative netTALK communications products are available at www.nettalk.com.
Forward Looking Statement
This release contains forward-looking statements and information regarding LightSquared and its business. Such statements are based on the current expectations and certain assumptions of LightSquared's management and are, therefore, subject to certain risks and uncertainties. The forward-looking statements expressed herein relate only to information as of the date of this release. LightSquared has no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release, nor is there any assurance that the plans or strategies discussed in this release will not change.