SkyWay Communications Holding Corp. Announces Asset Acquisition of Transdigital Communications Corp.
CLEARWATER, FL -- (MARKET WIRE) -- 03/16/2004 -- SkyWay Communications Holding Corp. (OTC BB: SWYC), and its wholly owned subsidiary, Sky Way Aircraft Inc, announced today the acquisition of selected assets from Transdigital Communications Corporation (TCC). The assets include manufacturing, distribution, patents, STC's and intellectual property of the industry's leading in-flight entertainment components Areis FX flight mapping system, Audio File multi-channel seat / cabin music system and Hydra Trac drop down LCD monitor system. The TCC products are currently installed on hundreds of aircrafts flown by major domestic and foreign commercial carriers. SkyWay plans to merge the TCC products into the SkyWay Media Server System, coupling it with the nationwide air to ground (ATG) 15 Mbps air network thus making Sky Way Aircraft the only complete in-flight entertainment (IFE) and security system integrated into existing domestic and foreign aircrafts.
Brent Kovar, President of SkyWay Communications Holding Corp., stated, "The TCC product line represents quality and dependability thus its excellent reputation in the airline industry. We are fortunate to have been able to acquire the TCC product line and are very excited about the integration powerhouse of the Sky Way Media Server System. It is my goal to make the Sky Way Aircraft system the most requested, useful and memorable IFE service in the skies."
About SkyWay Communications Holding Corporation (Sky Way Aircraft, Inc).
SkyWay Communications Holding Corporation (Sky Way Aircraft, Inc.) is a Clearwater, Florida based company that is developing a unique ground to air in-flight aircraft communication network that it anticipates will facilitate homeland security and in-flight entertainment. Sky Way Aircraft is focused on bringing to the market a network supporting aircraft-related service including anti-terrorism support, real time in-flight surveillance and monitoring, WIFI access to the Internet, telephone service and enhanced entertainment service for commercial and private aircraft throughout the United States. Based on the final upgrading of a previous airborne telephone and communications network, Sky Way Aircraft intends to provide broadband connectivity between the ground and in-flight aircraft throughout the U.S. using technology that provides a broadband high-speed data transmission. Sky Way Aircraft intends to be the communications solution for commercial and private aircraft owners wanting real time access to on-board security systems, aircraft health and welfare monitoring, avionics operations and for passengers wanting real time high-speed access to the Internet. The network will enable applications that can personalize the in-flight entertainment experience, provide real time access to flight management avionics with long-term data storage and also support for ground monitoring of in-flight surveillance systems that are being designed with the goal of enhancing current airline security standards.
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