NEW CANAAN, Conn., March 13, 2006 (PRIMEZONE) -- NetSky Holdings, Inc. ("NetSky") (Pink Sheets:NKYH), announced today that it recently closed on the asset purchase of two Pennsylvania-based Internet Service Providers (ISP).
NetSky purchased the assets of Tri-County I-Net, Inc., (Tri-County) an ISP that offers Internet connectivity solutions for both residential and business subscribers. NetSky's acquisition reflects Management's business strategy of acquiring ISPs in North America, then quickly reducing operational and overhead costs to reach profitability and increase shareholder value. The acquired ISPs are located in Pennsylvania and use the URL addresses www.tricountyi.net and www.f-tech.net. The assets of both ISPs were purchased as part of this acquisition and included the equipment and customer base of both ISPs. Through the acquisition of these two ISPs, NetSky has acquired a solid base of dial-up and DSL subscribers which are comprised of mostly residential accounts, but include business accounts as well.
Robert W. Thayer, CEO of NetSky, commented, "We are very excited about the acquisition of these two ISPs which also provides us with the opportunity of expanding our Internet services throughout Pennsylvania. They provide NetSky with a solid base of dedicated local subscribers that fits our business model. Subscribers of Tri-County should expect to see more Internet services that will not only benefit their ability to enjoy the Internet but also increase our potential for subscriber growth. We hope to achieve revenue growth by offering voice over internet protocol (VoIP) communications and wireless connectivity solutions in the near future, as well as various incentives for new and existing subscribers."
Robert Thayer continued, "This past year we worked very diligently in developing strategic alliances that allow us to reduce the operating costs of each acquired ISP. We expect the Tri-County acquisition to be the first of many acquisitions to come and are currently in discussions with several other ISPs as potential acquisitions. Our business strategy and business relationships have been established with the focus of achieving profitability through economies of scale at a faster rate than our competitors using other business models."
About NetSky:
NetSky is an Internet acquisition company focused on acquiring, developing and increasing the subscriber base of local ISPs throughout North America. Using a unique business strategy culminated from years of experience within the Internet industry, Management of NetSky applies its business strategy of consolidating the operational services of each acquired ISP to reach its goal of achieving profitability through economies of scale. Management intends to increase its subscriber base by acquiring ISPs and then increasing that base through budgeted advertising and marketing, without the burden of building expensive infrastructure with numerous offices and employees.
This press release contains certain forward-looking statements, which are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements of future goals or expectations, containing words such as "expect," "believe," "should," "anticipate,'' "intend,'' "plan," "may,'' "will'' or similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks, uncertainties and assumptions that are difficult to predict and that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, the successful completion of acquisitions and the integration of such businesses with those of the Company, competition, technological changes, the ability to obtain financing and other factors. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.