MOBL news on Sept 19 below
MOBILEPRO CORPORATION (U-MOBL) - News Release
MobilePro Corp. To Acquire Constellation Networks; GBH Telecom Discussions Terminated
ROCKVILLE, Md., Sept. 9 /PRNewswire-FirstCall/ -- MobilePro Corp. (BULLETIN BOARD: MOBL) , an emerging company developing new global wireless technologies and applications, announced today that it has signed a memorandum of understanding covering the acquisition of Constellation Networks Corporation (CNC).
Terms of the transaction include both stock and cash to fund expansion of CNC's existing international satellite and fiber network. The projected closing date for the transaction is September 19, 2003. Further details were not disclosed. MobilePro also announced that negotiations to acquire GBH Telecom, Inc. have been terminated due to inability of both parties to agree on substantive terms of the transaction.
MobilePro Chairman and CEO Arne Dunhem said, "CNC is a key building block in our strategy to develop and leverage our radio frequency and air-chip technology base. Not only will CNC provide important new revenue for MobilePro, but we believe CNC's satellite infrastructure and expanding customer base will provide a foundation to develop and launch new services and applications responsive to global market needs."
CNC President Kristin Grassa said, "The CNC team is excited about helping make the MobilePro vision a reality. We believe we can make a major contribution creating value for the company. We also share the MobilePro vision that advanced applications integrating diverse RF, processing, CPE technologies and global bandwidth will be a major growth market which we plan to address."
Constellation Networks Corporation provides end-to-end global connectivity for the transport of voice, video, Internet, voice over IP and data. CNC uses multiple technology platforms to deliver its services and allow its clients the most flexibility possible. Through the use of state-of-the-art satellite and telecommunications equipment CNC is able to offer the most efficient solutions for its clients whether it be via Single Channel Per Carrier (SCPC) both asymmetrical and full duplex or via its more dynamic bandwidth sharing solutions utilizing Deterministic Time Division Multiple Access (DTDMA) technology. CNC's multiple technology platforms provide economical, instant, global reach for point-to-point or point-to-multi-point services to urban as well as thinly populated and rural areas that are not easily or economically served by other technologies in addition to economical virtual private network and global wide area network capabilities for corporate clients. CNC's ability to provide multiple satellites, fiber and wireless options coupled with CNC's seven day/24 hour network operations center support ensures the highest quality of services. CNC has an extensive and growing customer base currently supporting international government agencies, telecommunications and enterprise customers, among others.
Constellation Networks Corporation is headquartered in Traverse City, MI and maintains Point of Presence in New York City and Malmo, Sweden. For additional information on CNC refer to the CNC web site constellationnetcorp.com.
MobilePro is an emerging company creating scaleable and global wireless technologies and applications. The company has expertise in wireless components technology and intends to leverage that expertise into delivering wireless applications and systems solutions for the global enterprise markets. The company has aligned itself into three operating units. The company's Applications Division intends to develop new Wireless Data Network Exchange Service(SM) (W-DEXSM) products for wireless data applications and operational support services such as wireless network monitoring and testing. The company's MobilePro Systems Division intends to provide specialized radio frequency design services for turnkey wireless systems, wireless telemetry systems, solutions that bridge wireless local area networks and third generation (3G) and other wireless web systems. The company's NeoReach Division intends to develop advanced 3G chip technology including 3G modem semiconductor chip sets for handset telephones, pico-cell base stations, smart antenna technology and advanced radio frequency semiconductors.
An investment profile about MobilePro Corp. may be found online at hawkassociates.com
For more information, contact MobilePro Chairman and CEO, Arne Dunhem at (301) 315-9040 or email adunhem@neoreach.com. For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383. Email: info@hawkassociates.com. Detailed information about MobilePro can be found on the website www.mobileprocorp.com. An online investor kit including copies of MobilePro press releases, current price quotes, stock charts and other valuable information for investors may be found on the website www.hawkassociates.com.
This release contains various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward- looking statements. Results actually achieved may differ materially from expected results included in these statements.
MobilePro Corp.
CONTACT: Arne Dunhem, MobilePro Chairman and CEO, +1-301-315-9040, or
email, adunhem@neoreach.com; or investor relations, Frank Hawkins or Julie
Marshall both of Hawk Associates, +1-305-852-2383, or email,
info@hawkassociates.com , for MobilePro Corp.
Web site: mobileprocorp.com |
