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Telava Networks, Inc. Announces New Acquisition in China's Mobile Advertising Market(Market Wire Via Thomson Dialog NewsEdge) SAN FRANCISCO, CA, March 31 / MARKET WIRE/ -- Telava Networks, Inc. (OTCBB: TLVA) announced today that the Company has signed a Letter of Intent to acquire Shenzhen Evergreen Technology Ltd. (Evergreen Technology), a leading pioneer of mobile advertising networks and solutions provider in China. The targeted acquisition is consistent with the Telava Strategic Business Plan, designed to build enterprise value through organic growth, and select acquisition opportunities associated with cross-functional integration of the complementary core competencies. "Evergreen Technology's success so far in 2008, demonstrated by the increase in impressions and the influx of brands joining our network, represents the overall growth of the mobile advertising market," said William Luo, CEO of Evergreen Technology. "The complementary competencies of Telava will enable us to make a significant mark for other markets. Our combined reach and ability to measure mobile campaigns will pave the way advertisers look at the comprehensive ad buy in the China market." As the mobile advertising industry grows more significantly in the U.S. from $421 million in 2006 to an estimated $4.7 billion by 2011, worldwide mobile advertising is expected to increase to $11.3 billion by the same year, according to eMarketer. "Telava has always set itself apart through our creative and comprehensive suite of advanced wireless technology solutions," said Baldwin Yung, President and CEO of Telava. "Evergreen Technology is the perfect complement to our global strategy and provides invaluable differentiators as we expand our services into other markets such as China. This acquisition firmly positions Telava's commitment in delivering innovative solutions to the wireless industry." About Shenzhen Evergreen Technology Ltd Evergreen Technology is the China leader in mobile advertising software and services company dedicated to enabling advertising on mobile devices. Evergreen Technology offers a comprehensive solution for advertisers to control all mobile marketing spanning from mobile ad sales to ad management and analytical reporting. The Company set up the first official mobile television portal for Tom Group's and Time Warner's CETV (China Entertainment TV). Evergreen Technology holds the exclusive copyright on mobile content and license to operate and deliver mobile television for CETV. Evergreen is the first to deliver advanced high-quality mobile video ad in China. About Telava Networks, Inc. Built on carrier-class network infrastructure, Telava Networks, Inc. is an Integrated Communications Provider (ICP) of wireless broadband connectivity for next-generation fixed and mobile innovative applications. Headquartered in San Francisco, Telava has launched wireless high-speed Internet services in both metro and rural markets. The Company owns a wireless broadband network covering more than 40 cities and 22 states. Additionally, Telava's wholly owned subsidiary IBFA, has local service authority in: Arkansas; California; Connecticut; Georgia; Illinois; Kentucky; Michigan; New York; Tennessee; Texas; and Wisconsin. The Company provides long distance services in all 50 States, and ISP services in all markets they serve. Telava has offices in San Francisco, Chicago, China, South Korea, and the Philippines. This News Release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. Contacts: Shenzhen Evergreen Technology Ltd: Investor Relations 86.755.8358.9056 Telava Networks, Inc.: Investor Relations 415.321.3490 Copyright ? 2008 Market Wire, Incorporated |