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PC Universe, Inc.(fka PCUV)

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PC Universe, Inc.(fka PCUV)

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Beacon Solutions Enters Into LOI to Acquire PC Universe LOUISVILLE, Ky., CINCINNATI and COLUMBUS, Ohio, Oct 9, 2008 (GlobeNewswire via COMTEX) -- Beacon Enterprise Solutions Group, Inc. (OTCBB:BEAC) today announced that it has entered into a Letter of Intent to acquire the business of PC Universe, Inc. subject to the negotiation and execution of Definitive Agreements. PC Universe is a direct and online value-added reseller of information technology (IT) products and services. PC Universe's web customers have access to over 250,000 product SKUs and services from over 700 manufacturers and provides professional technical services, such as networking design and installation. Since 1995, PC Universe has served the information technology needs of businesses of all sizes including federal, state and local government entities as well as educational institutions, both public and private. Per the company's annual report for the year ended December 31, 2007, PC Universe generated approximately $34 million in revenue and a net loss of approximately $1.2 million. "The opportunity to integrate the business of PC Universe into Beacon Solutions represents potential fixed cost savings and significant growth opportunities for both organizations," commented Bruce Widener, CEO of Beacon Solutions. "Upon completion, the transaction will add a significant procurement division with a thirteen year operating history and a large commercial customer base to the Beacon portfolio," added Rick Mills, President of Beacon Solutions. "We intend to complete the integration quickly and expect to capitalize on the resulting cross-selling and revenue growth potential in 2009." "We look forward to continuing our long tradition of providing quality IT products and extraordinary service as part of Beacon Solutions," said Tom Livia, Co-CEO of PC Universe. "We believe the combination of PC Universe's IT procurement capabilities and Beacon's network design, IT/Telecom and application development services will greatly benefit the customers of both organizations," added Gary Stern, Co-CEO of PC Universe. Under the terms of the LOI, the purchase price will be paid via the issuance of up to 3,160,000 shares of Beacon Solutions common stock. The transaction is contingent upon the completion of mutual due diligence, the negotiation and execution of Definitive Agreements and procurement of appropriate financing. Additional information regarding PC Universe is available on the company's website at www.pcuniverse.com and at www.sec.gov. About PC Universe, Inc.: PC Universe, Inc. (OTCBB:PCUV) operates as a direct and online value-added reseller (Online VAR) of name brand information technology (IT) products and services. PC Universe's web customers have access to over 250,000 product SKUs and services from over 700 manufacturers, including desktops and servers, hard drives, ink and toners, monitors and LCDs, networking products, notebooks, printers and software products. The company also provides professional technical services, such as networking design and installation. PC Universe, Inc. is based in Boca Raton, Florida. About Beacon Enterprise Solutions Group Inc.: Beacon Solutions is a single source provider for voice and data system design, installation and service. Through an integrated team approach, Beacon offers customers everything to make their communications run, from telecom infrastructure design, to software development, to voice/data/security system integration, system installation and maintenance, in addition to long distance, VoIP and Internet access service. Beacon's client roster includes state and local agencies, educational institutions, and over 4,000 companies ranging in size from mid-sized companies to the Fortune 500. While Beacon services customers globally, it is headquartered in Louisville, Ky., and has offices in Cincinnati and Columbus, Ohio; and Mangalore, India. Beacon is publicly traded (OTCBB:BEAC). For more information, please visit www.askbeacon.com or contact the company at 502-657-3500 or investors@askbeacon.com.
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