O2 Secure Wireless Inc. executes term sheet to acquire local communications company
ST. AUGUSTINE, Fla., Nov. 30, 2012 /PRNewswire/ -- O2 Secure Wireless, Inc. (Pink Sheets: OTOW) is pleased to announce it has signed a term sheet to acquire a communications company that provides Internet and telephone services to large institutions, local cities and counties, as well as numerous small medium sized businesses throughout Florida.
This acquisition is strategic in nature and will immediately bring in monthly reoccurring cash flow and resolve all of O2's Internet backhaul and equipment colocation needs. With operations in the Florida area, the company provides strong sales, technical and operational expertise to local customers.
"The established network of business relationships within Florida that this acquisition brings to the table is extremely valuable to O2," states Val Kazia CEO of O2 Secure Wireless. "As we've previously announced, we have been meeting with local school districts, colleges, and other institutions and proposing services packages that includes wireless and mobile technologies. This company rounds out the service offering of O2 Secure Wireless, meaning that we can now offer a complete set of technology and installation services related to wired, wireless, and mobile internet, and completes our fiber infrastructure backbone, which will save us months of network development time. I believe that we will be able to grow this business quickly and can improve upon this company's projected $1M in revenue over the first three years."
Name of the party being acquired, and terms of the acquisition are not being released at this time to allow final due diligence to be completed on any outstanding focus items.
About O2 Secure Wireless: O2 Secure Wireless is currently developing numerous wireless tower facilities in the U.S. O2 Secure Wireless is also instrumental in the development of wireless broadband communication services domestically. Under a recent merger with Earthcom Service Inc., the Company is currently being structured to provide affordable flat rate pre-paid wireless services in developing countries internationally, specifically the Dominican Republic.
Safe Harbor Act: This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
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SOURCE O2 Secure Wireless, Inc.