LOS ANGELES, Sept. 19, 2006 (PRIMEZONE) -- FiltaKleen Inc. (Pink Sheets:FKLE) ("FiltaKleen" or the "Company"), announced today that it has acquired Interactive Television Corporation ("ITC") along with its UK based subsidiary, Deal TV Limited.
The acquisition represents a shift in business strategy for FiltaKleen into the emerging Internet protocol television business. Upon consummation of a share exchange agreement with ITC, the Company will divest its current bypass filtration technology business in order to focus on ITC's broadband television and interactive media operations. The Company will also been renamed "IPTV Corporation" to reflect this new direction.
ITC is an interactive television company that is developing innovative technologies for use on wireless, satellite and broadband-based Internet protocol television platforms. ITC's UK based Deal TV Network currently broadcasts to approximately 8.1 million homes on the British Sky Broadcasting satellite system as well as over the Internet. Deal TV is the first multi-play dynamic pricing television commerce platform in the world.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements.