BEVERLY HILLS, Calif., April 5 /PRNewswire/ -- Telecommunication Products, Inc. (BULLETIN BOARD: TCPD) ("Telpro"), a provider of Pay Per View (PPV), interactive digital programming services and wireless broadband connectivity for the global Multiple Dwelling Unit (MDU) and hospitality markets, announced today that it has signed a definitive agreement to acquire Eagle West Communications, Inc. in a deal for cash. Eagle West owns and operates cable television systems serving communities in Arizona and Nevada, reaching 8,000 homes and passing an additional 42,000 homes, with an annual recurring revenue stream of $3.6 Million from its subscriber base. The completed acquisition will immediately increase Telpro's annual revenues 580% from $750,000 to $4,350,000.
Telpro plans to market its high-speed Internet services and bundled PPV and interactive digital programming across Eagle West's existing customer base. Telpro will also look to expand cable subscriber bases utilizing Eagle West's existing cable delivery infrastructure.
Robert Russell, Chief Executive Officer of Telpro, stated, "Eagle West will enhance our core competencies in servicing our existing customer base with bundled servicing of high-speed Internet access products and digital satellite programming. In addition, we get the benefit of a company with zero debt and liabilities, a solid recurring revenue foundation and an excellent infrastructure that will further enable Telpro to execute on our strategic growth plan."
About Telecommunication Products, Inc.
Telecommunication Products, Inc. ("Telpro"), headquartered in Beverly Hills, is a provider of video-on-demand and pay-per-view services to the hospitality industry. The Company is also currently marketing hi speed Internet access products, including high end wi -fi. Telpro is committed to delivering the next generation of interactive communication services to its growing database of clients. For additional information, please see http://www.tellapro.com/ or for Investor Relations go to: http://www.otcfn.com/tcpd.
This press release contains forward-looking statements, involving risks and uncertainties 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 which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Information with respect to important factors that should be considered is contained in the Company's Annual Report on Form 10-KSB 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. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
For more information, contact: Geoffrey Eiten Investor Relations OTC Financial Network 781-444-6100 ext. 613
CONTACT: Geoffrey Eiten, Investor Relations, OTC Financial Network, +1-781-444-6100 ext. 613
Web site: http://www.tellapro.com/
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