ClearWorks Goes Wireless; Acquisition of Link 2 Communications Allows ClearWorks to Provide High Speed Wireless Broadband Access to Homes and Businesses.Business Editors & High Tech Writers HOUSTON--(BUSINESS WIRE)--Aug. 3, 2000 ClearWorks.net (AMEX AMEX See: American Stock Exchange :CLW CLW Council for a Livable World CLW Cloud Liquid Water CLW Chittaranjan Locomotive Works (India) CLW Child-Led Weaning CLW Crystal Lake Wizards (youth wrestling club, Crystal Lake, Ilinois) ) announced today that its subsidiary ClearWorks Communications Inc. has signed a letter of intent to acquire Link 2 Communications, a nationwide provider of high speed wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 access. The acquisition of Link 2 Communications will add approximately $10 million in new revenues to the company in the first 12 months of operation and provide the company with a strategic arm in which to address the large retrofit market for wireless Bundled Digital Services (BDS BDS abbr. Bachelor of Dental Surgery BDS Bachelor of Dental Surgery BDS n abbr (= Bachelor of Dental Surgery) → tÃtulo universitario BDS ). ClearWorks.net is one of the leading providers of Fiber To The Home (FTTH (Fiber To The Home) See FTTP. ), often referred to as "the last mile" solution, for neighborhoods and businesses utilizing the company's Bundled Digital Services (BDS) which includes high speed Internet connectivity, dial-tone, digital multi-channel video, on-demand video rental, a community Intranet and other digital services. The acquisition of Link 2 Communications provides for two-way wireless telecommunications over an existing nationwide network. According to Michael McClere, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ClearWorks.net Inc., "The acquisition of Link 2 Communications provides ClearWorks with an important wireless component to our telecommunications strategy. The wireless telecommunications solutions that Link 2 possess are perfect for retrofitting our technology into businesses and communities where laying fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power is not a choice. The existing wireless network and tower leases will provide for an entire new customer base previously unreachable by ClearWorks. We plan to begin rollout of wireless services as soon as practically possible." ClearWorks chose Link 2 Communications because of its existing wireless network and FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. wireless licenses. Link 2 Communications currently is a National Common Carrier and holds nationwide FCC licenses which will allow ClearWorks to expand on a wireless basis, to provide services to residential and commercial customers. Link 2 Communications is in the business of providing the products, services and means of achieving two-way remote control, monitoring, and computing using proprietary spread spectrum technology and its incumbent status as a National Common Carrier for two-way data messaging. Additionally, the company has available innovative new products for one- and two-way data messaging in areas such as computing, transportation, home security, utility meter reading, GPS location, and remote monitoring applications. The Link 2 Communications acquisition follows other telecommunications acquisitions including the acquisition of LDConnect.com, a voice-over-ip (VOIP (Voice Over IP) A digital telephone service that uses the public Internet as well as private backbones instead of the traditional telephone network. Many companies, including Vonage, 8x8 and AT&T (CallVantage), typically offer calling within the country for a ) worldwide long distance provider. The acquisition of LDConnect.com will add $4 million in new revenues to the company in the first 12 months of operation. In recent news, ClearWorks.net also announced its expansion into the Dallas marketplace. The new office for the company establishes ClearWorks in the fifth (5) fastest growing residential market in the US. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The above statements in regard to ClearWorks.net Inc. and its affiliates and subsidiaries which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including ClearWorks.net, Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate and marketplace changes. For more information on ClearWorks.net, please visit the company's Web site at www.clearworks.net. |
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