DGAP-News: Blueweb Mobile Media PLC signs Letter of Intent to Acquire GI-Link
(firmenpresse) - DGAP-News: Blueweb Mobile Media PLC / Key word(s): Acquisition/Letter
of Intent
Blueweb Mobile Media PLC signs Letter of Intent to Acquire GI-Link
20.12.2011 / 07:45
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BluewebEnd of Corporate News
Mobile Media PLC signs Letter of Intent to Acquire GI-Link
Delray Beach, FL
November 24, 2011 - Blueweb Mobile Media PLC (BWC: GR) announced today that
it has submitted a signed Letter of Intent to Squitter Electronics for the
purchase of its powerful mesh network platform application and radio
equipment manufacturing unit GI-Link. Blueweb Mobile Media has set a date
of
on or before February 1st, 2011to complete the acquisition. The time frame
allotted will allow Blueweb Mobile Media the necessary amount of time to
conduct all due diligence on said acquisition.
When asked for comments,
Daniel Kinney, CEO of Blueweb Mobile Media had this to say: 'There are many
gateways on the market today. Some are good, some are not. From our
experience in the Mobile Media space, we have found none that can come
close
to comparing to the powerful GI-Link software platform. The acquisition is
a strategic move to integrate two cutting edge organizations. Time and time
again GI-Link has delivered on its promises and its integrity is
unyielding.'
Blueweb Mobile Media is in the process of building out a national network
with their focus on light rail systems and Downtown Districts. 'The
acquisition of the software from GI-Link makes sense on every level. A
train
alone can cost anywhere from $90,000 to $635,000 to implement, depending on
the size of the system. By acquiring the software and hardware, we will be
able to ultimately cut these costs from 25% to 50%, depending on the
application. This means triple the revenue from a company standpoint and
increased value for our share holders.'
Estimated revenues from one Train
alone on an annual basis is said to be at minimum $300,000 and up to
$1,500,000 respectively, depending on the demographics and size of the
line.
Multiply that by the amount of light rails across the United States and you
have an exponential recipe for success.
When asked to comment on the move,
Ajax Melo, CEO of Squitter Electronics and the brains behind the GI-Link
Platform had this to say 'The market is moving towards having Internet
access
everywhere on an explosive growth of WIFI Zones and Hotspots, and this is a
technology that we have been developing for the last 4 years. We currently
have hardware and software designed specifically for this application and
we
look forward in teaming up with Blueweb to bring this technology to more
markets in the USA'.
About Squitter.
Squitter Electronics Inc. is a
technically inclined distributor and exporter of electronics and networking
products with more than 15 years of experience in the field and thousands
of
radios installed. In 2004 it created GI-link, a division to develop and
manufacture networking equipment designed to provide a low cost solution
for
small to mid-size ISP's worldwide. Our brand and products are well known
for
their innovation, performance, and quality.
About Blueweb Mobile Media
PLC
Blueweb Mobile Media PLC is an industry leading mobile advertising
company. The Company offers fully interactive experiences to mobile devices
with a wide range of 'one-way' (content push), and 'two-way' (opt-in)
campaigns. Blueweb Mobile Media has the ability to manage Proximity
Marketing
campaigns remotely, allowing the company to set up geo-targeted mobile 'hot
zones' throughout the US. Visit www.bluewebmm.com for more information.
Stock Symbol: BWC on the Frankfurt Stock Exchange (BWC: GR)
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