DETROIT, July 17, 2012 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER), is pleased to announce that the Company has signed a definitive agreement to acquire 49% of Apollo Metro Solutions, Inc. and wired funds for an initial amount equal to 12.5 percent of the total acquisition price, which will be disclosed at a later date when all terms and conditions will be provided along with the expected timeline for various manufacturing build-out stages and new product introductions or product line expansion events.
Since Viper Networks has already been working closely with Apollo Metro Solutions on new designs for an 'Advance LED Street Lighting System,' the Company's initial payment of funds will be utilized specifically for use in the assembly line production project for Apollo Metro's new LED manufacturing facility in South Florida.
Apollo Metro Solutions, Inc. expects to complete the LED Advance Street Lighting System manufacturing facility build-out for in-house production capabilities in Naples, Florida by year end.
Viper Networks is actively working to secure major LED commercial orders in both the private and public sectors, including potential business from some of the largest government municipalities in the U.S.
The Company believes that the North American and worldwide markets for energy saving streetlights and parking lot lights provides a tremendous opportunity for a new generation of LED lighting, especially those products offering more environmentally-friendly features.
Please note the Company is displaying a 'temporary' corporate site at www.vipernetworks.com.
The Viper Networks logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=12434
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