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Advanced Communications Technologies Signs Letter of Intent for
Acquisition of 51% Interest in Teleport Satellite Communications Center
IRVINE, Calif.--(BUSINESS WIRE)--Oct. 18, 2000--
Benefits of Telecom Gateway for SpectruCell Rollout Cited
Advanced Communications Technologies Inc., (OTCBB:ADVC), today announced it has signed a letter of intent to acquire 51 percent of Digital Comm Link Inc. in a stock transaction valued at $10 million to $20 million, subject to an independent valuation.
The company has an option to purchase an additional 29 percent over a one-year period. Completion of the transaction is subject to due diligence and the execution of a definitive purchase agreement. The majority of the due diligence was completed prior to the execution of the letter of intent.
"The acquisition provides us with a unique opportunity to demonstrate the viability of the SpectruCell system, upon completion of the commercial model, in an operating network structure. It will also provide the company with an excellent venue to showcase its capabilities to potential telecommunications customers," said Roger May, chief executive officer.
He noted that the Agreement requires the company to commit up to $6.5 million in additional working capital to further expand Digital Comm Link's capabilities and satellite communications facilities. It will also provide operating capital to further develop new business opportunities, while expanding its existing base of telecommunications customers that currently includes several of the major carriers.
Advanced Communications Technologies announced last week that its Australian-based affiliate, which is 20 percent owned by the company, successfully tested and demonstrated the functionality of its SpectruCell system, a cellular wireless base station capable of processing multiple protocols simultaneously -- representing a worldwide first. The functionality was achieved without Qualcomm Chipsets, or any other dedicated hardware, and marks the successful integration of RF, DSP and Signaling Sub-Systems of the SpectruCell multiple protocol wireless base station.
The company has begun to initiate marketing programs to cultivate interest for SpectruCell among the major telecommunications companies in the United States and expects the new SpectruCell technology to be available commercially by the end of the second quarter of 2001.
What is SpectruCell?
A SpectruCell system is a cellular wireless base station capable of processing multiple protocols (GSM, CDMA, WCDMA, etc.) simultaneously, all within the same network. The SpectruCell network can process a GSM and a CDMA call simultaneously over a single network structure. The SpectruCell base station is built on a software defined radio platform, without protocol specific hardware required for handling different protocols. The same SpectruCell network can process all future applications, including the 3G protocols, simultaneously, by upgrading with the appropriate software module. It has also been designed to work with all conventional communications backbones (fiber optic, cable, satellite, microwave, etc.). This means that communications network operators will be able to use one network to process current and evolving protocols and applications, as well as provide a more cost effective utilization of their network resources. In addition, the cost of expanding and establishing new wireless networks could be reduced dramatically. Lower network establishment costs generally mean expanded service offerings by the carriers, and lower costs of calls for the consumer.
SDR (Software Defined Radio)
The SpectruCell multiple protocol wireless cellular base station is also believed to be one of the first commercial applications of its kind in the world to utilize an SDR operating platform. The SpectruCell system has also been designed with open architecture and is software upgradeable. It will also be compatible with the latest smart antennae technology.
Independent Industry Validation
ACT is presently collaborating with several parties, including the Telstra (Australia) R&D laboratories, to independently validate the functionality of the SpectruCell system. The SpectruCell design team is now focusing on the production model of SpectruCell commercial network base station.
About Digital Comm Link
Digital Comm Link owns and operates a satellite fixed earth station (teleport) from its 6.6-acre facility based in Davie, Fla. Its capabilities for domestic and international clients include the reception and transmission of voice, video and data via satellite, fiber optic lines or microwave signal. Its services encompass telephone communications, Internet access and data and television programming transmissions, utilizing a 196-foot free standing tower and a 220-feet supported structure.
In addition, Digital Comm Link offers mobile satellite, production and post-production services. The company has 10-year FCC licenses to operate its Ku Band mobile satellite trucks to provide transmission and reception services for television networks requiring additional broadcast capabilities for news and sporting events on short notice. Current national broadcasting network customers include: ABC, CBS, NBC, FOX, CNN, CNBC, MSNBC and ESPN.
About the Company
Advanced Communications Technologies Inc., the US-based public company, owns the North, South, and Central American rights to SpectruCell, and also owns substantial equity (20%) in Advanced Communications Technologies (Australia) Pty Ltd, the developer and owner of SpectruCell, and also the owner of Advanced Network Technologies Pty Ltd, and Australon Enterprises Australia Pty Ltd, a leading edge LonWorks based Technology Company.
The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties, but are not limited to: the acquisition of a 51 percent interest in Digital Comm Link Inc.; the successful commercialization of its SpectruCell technology; its ability to acquire and develop both new and existing forms of related technologies; market acceptance and demand; pricing pressures and other competitive factors; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
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