NEW YORK, April 29, 2004 (PRIMEZONE) -- Maxplanet Corp. (Pink Sheets:MXNT) today announced that it has signed a Letter of Intent to acquire Wireless Ink, LLC. (www.wirelessink.com). Wireless Ink is a Licensor and Application Service Provider (ASP) of websites for cellular phones, PDAs and other handheld wireless devices. The acquisition with restructuring is anticipated to close within 30 days. As part of the arrangement, Maxplanet has secured financing for the expansion of Wireless Ink's business.
Ike Sutton, Interim CEO of Maxplanet, stated: "This acquisition will provide new life to Maxplanet and enable shareholders to be part of the wireless portal boom the same way Maxplanet experienced in the 90's with the Maxplanet Internet portal. We hope this acquisition would enable share price to regain the valuation we once had."
Bill Munch, president of Wireless Ink LLC, commented: "Maxplanet's experience as an Internet portal should assist us in the further development of our business; coupled with our experience developing a dynamic new platform for the mobile Internet, we will actively seek to expand in the growing multi-billion dollar wireless sector. We look forward to consummation of the transaction and to recuperation of shareholder value to Maxplanet."
About Maxplanet Corporation
Maxplanet has been an Internet portal and multimedia company since the late 90s and currently owns domain names including www.maxplanet.com, www.mxnt.com and www.mundomaximo.net. The company was incorporated in 1982 in the State of Delaware and is currently listed on the Pink Sheets under ticker symbol "MXNT". During the corporate restructuring in recent months, Maxplanet has been seeking strategic acquisition targets.
About Wireless Ink, LLC
Wireless Ink provides the most complete mobile website publishing platform available today. The company offers private-label mobile web site authoring and hosting solutions for wireless carriers, telecommunication companies, ISPs, entertainment companies, brands, small businesses and individuals. The company currently hosts approximately 4,000 mobile websites that generate over 8 million mobile screen views per month. More information is available at www.wirelessink.com and www.winksite.com.
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC.