TMCnet News
Pegasus Wireless Signs Letter of Intent to Acquire Controlling Interest in a Profitable Electronics Manufacturing Facility in ChinaFREMONT, Calif. --(Business Wire)-- Aug. 11, 2005 -- Pegasus Wireless Corporation (OTCBB:PGWC) announced today that they have signed a letter of intent to acquire a controlling interest in a leading electronics manufacturing facility located in the Su-Zhou region of China (know as the Silicon Valley of China). This acquisition is expected to increase annual revenues by $15 million and be accretive to earnings per share. Jasper Knabb, President of Pegasus Wireless Corporation, stated, "This is an opportunity to acquire a consistently profitable manufacturing facility that has extensive experience in providing manufacturing services to customers worldwide. This will also allow Pegasus Wireless to provide end-to-end solutions at the most competitive price. The company's existing clients include Bell South, Dell, Swisscom, I-O Data and many others in the US, Europe and Japan." Terms of the acquisition will be filed with the Securities and Exchange Commission upon completion of the acquisition. About Pegasus Wireless Corporation Pegasus Wireless Corporation is a leading provider of advanced wireless solutions. The company creates hardware and software solutions for broadband wireless networking and Internet access applications. Pegasus offers cutting edge wireless products used in computer networking, industrial data transmission, and multimedia applications. The company's wireless networking products allow a higher user capacity per base station as compared to the competition. These products also offer advanced security, easy true plug-n-play installation, dynamic load balance, non-interrupting real-time roaming connectivity, e.g. VoIP, and fail-safe, self-healing mesh networking capability. Pegasus Wireless Corporation can be contacted at 800-770-6698 or by visiting their website at http://www.pegasuswirelesscorp.com/. NOTES ABOUT FORWARD-LOOKING STATEMENTS Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements. These factors include, but are not limited to, (i) our ability to complete successful acquisitions of complementary companies, products and technologies; (ii) our ability to attract and retain customers; and (iii) our ability to gain market share. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the actual results anticipated by Pegasus Wireless will be realized, or if substantially realized, that they will have the expected consequences to or effects on Pegasus Wireless or its business or operations. |
