MetroConnect Inc. (fka MTCI)

[di4]

MetroConnect Concludes Acquisition of Freedom Communications Services, Inc.
May 5, 2009 8:30:00 AM


Email Story Discuss on ZenoBank

View Additional ProfilesYORBA LINDA, CA -- (MARKET WIRE) -- 05/05/09 -- MetroConnect, Inc. (OTCBB: MTCI), a nationwide developer of WiMAX networks and provider of advanced broadband solutions, today announced it has completed the acquisition of Freedom Communications Services, Inc., a market leader in Engineering, Furnishing and Installation (EF&I) services for Tier 1 telecommunication companies. Following the acquisition, MetroConnect will integrate Freedom's services to expand its portfolio and provide a full range of EF&I services to their clients. MetroConnect announced the agreement to acquire Freedom on April 21, 2009. The new subsidiary is Freedom Wireless Services, Inc. (FWSI).

Freedom Communications Services, Inc. (FCSI) provides a wide range of services that include RF engineering, cell-site mods, and interior/exterior upgrades to next generation configurations. Freedom augments their services with an in-house software development group and network services, which create wireless industry products. FCSI has gained expertise within the wireless technologies: CDMA, UMTS, GSM, iDEN and various DAS & In-Building Solutions. Freedom has expertise in network system design and engineering, site surveying, materials procurement and equipment installation.

Recently, Freedom completed two DAS (Distributed Antenna System) installations simultaneously in Northern California; one located at the prominent Valley Fair Mall in San Jose, the second at the Stoneridge Mall in Pleasanton. Freedom's next DAS project is scheduled to start this month at the Glendale Galleria in southern California. Upcoming projects include an extensive Tier 1 client's network upgrade and new site installations, battery back-up, logistics, 900MHz upgrades, and network rebanding. Revenues are expected to surpass the $5 million mark by fiscal end March 31, 2010.

MetroConnect announced last week that Freedom Wireless Services's CEO and President, Katherine Thompson, has accepted the position of president of MetroConnect. "The fit between MetroConnect and Freedom Communications was such a good one I was compelled to lead them through this new partnership," Ms. Thompson, President of MTCI, said. "MetroConnect's WiMAX and broadband services complement the wireless EF&I services we provide our customers. We look forward to integrating our strengths to offer our clients the services they need," she added.

About MetroConnect, Inc.

With a mission to build a device-agnostic, WiMAX-ready, wireless broadband connectivity/content delivery platform serving all 48 contiguous U.S. states, MetroConnect is focused on providing connectivity services and solutions to businesses, public school systems and local government agencies. Using both licensed and unlicensed WiMAX spectrum the Company offers fully-integrated solutions with the highest levels of reliability, security, flexibility, scalability and price-performance. For more information, please visit http://www.MetroconnectInc.com.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

CONTACT
Robin Cruse
MetroConnect, Inc.
714-765-0010