MONTREAL, April 6, 2005 (PRIMEZONE) -- TelePlus Enterprises, Inc. (OTCBB:TLPE) (Frankfurt:TLPE) (http://www.teleplus.ca) is pleased to announce today that it has signed a Definitive Agreement (SPA) for the acquisition of 100% of the shares of Telizon Inc.
Following the Closing of the transaction, Telizon will be rolled into TelePlus Connect Corp. ("TelePlus Connect") thereby bringing TelePlus Connect's annual revenues to $14.5M and EBITDA to $1.9M. Transaction is subject to Teleplus obtaining financing.
AHEAD OF SCHEDULE
The acquisition of Telizon, once completed, would accelerate the Company's business plan by 18 months, increasing TelePlus' revenue run rate to US$30M annually and yield yearly EBITDA earnings well in excess of US$1M.
Telizon currently provides local and long distance services to over 18,000 commercial and residential line users in Ontario, Canada.
"We are delighted at the Telizon opportunity," stated TelePlus CEO Marius Silvasan. "The acquisition of Telizon falls right in line with our business model. The acquisition of Telizon will provide us with an 18-month lead on our original forecast increasing our revenues to US$30M and it will immediately increase our EBITDA by US$1.6M, bringing our Company to profitability sooner than anticipated. Lastly, once the integration is completed, synergies will be created with our other subsidiaries as they will utilize Telizon's billing and customer service centre," added Silvasan
About TelePlus http://www.teleplus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a vertically integrated provider of wireless and landline products and services across North America.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.