LEVITTOWN, Pa., June 9, 2004 (PRIMEZONE) -- FTS Wireless, Inc., a wholly owned subsidiary of FTS Group, Inc. (OTCBB:FLIP), an operator of retail wireless locations that market and sell next generation wireless and VoIP products and services, and operate Wi-Fi HotSpot's, today announced plans to close its previously announced acquisition of privately-held Tampa, Fla. based Wireless Unlimited, Inc., on June 16th, 2004.
FTS Wireless CEO Scott Gallagher commented, "We expect this acquisition to be immediately accretive to revenue and earnings per share. The acquisition will serve as a new platform for product launches such as the Wireless IP phone. In addition, FTS will convert the new location into an AirRover Wi-Fi (OTCBB:AVWF) Hot Spot."
FTS Wireless Recently announced plans to begin marketing and selling Cisco's (Nasdaq:CSCO) Wireless IP phones. Voice over Wi-Fi functions like a cellular call, but essentially is an application used over a Wi-Fi network.
About FTS Wireless, Inc.
FTS Wireless Inc., is an emerging regional operator of retail wireless locations that market and sell next generation wireless products and services and operate Wi-Fi HotSpot's. FTS Wireless currently operates six retail wireless locations in the Florida Gulf Coast region and one location in the Philadelphia suburban market and worldwide through its e-commerce site www.SatPhoneCenter.com. For additional information about FTS Group, Inc. or its subsidiary, please visit our website at www.FTSWireless.com or review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.