MIAMI--(BUSINESS WIRE)--PhoneBrasil International, Inc. (OTC:PHBR) announced today that it has entered into and is well along in its negotiation to acquire a private company with revenues in excess of $20 million and a strong customer base in southern Florida.
CEO Anderson Dias stated, “I have been in talks and targeted a perfect takeover candidate that fits our business model perfectly. We look to take over their customer base and immediately start billing minutes and traffic using PHBR technology and infrastructure.”
This candidate is a provider of telecommunications services for customers located in Argentina, Spain, Italy and the US. The company also provides a wide variety of affordable quality retail long distance service to ethnic communities using several cutting edge technologies based on their own high capacity private fiber network connecting 3 continents, from the south of Argentina to the north of Italy.
As a key provider in the international telecommunications industry, the company has generated over $20 million in sales during the fiscal year ended December 31, 2006 and switched approximately 400 Million minutes. We believe that the company we have targeted has constructed a robust retail customer base and that it could provide us with a zero cost Time to Market for expanding our products.
They offer a broad range of technology services: IT solutions and software in locations which we believe represent underserved geographic markets. This acquisition will enable us to expand into new markets as well as increase our product offerings.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as PHBR or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Shareholder Information Gateway: www.brasil-telecom.com/
Corporate Website: www.phonebrasil.net/
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