ALBUQUERQUE, N.M., Feb. 26, 2007 (PRIME NEWSWIRE) -- iPhone2, Inc. (Pink Sheets:IPHE) today announced a Letter of Intent to acquire Brooks Communication, Inc. of Albuquerque, NM. This is the first step in iPhone2's aggressive acquisition strategy designed to rapidly deploy iPhone2's proprietary OfficePhone2.0 products. Both iPhone2 and Brooks have initiated their due-diligence processes and expect to close the first week of March. After closing, Brooks will operate as a wholly owned subsidiary of iPhone2, Inc.
iPhone2 Inc. is an innovative Voice and Video over Internet Protocol communication provider offering residential and commercial customers affordable and user-friendly ways to communicate more efficiently. iPhone2's OfficePhone2.0 is the Next Generation of Communication Products enabling small-to-midsized companies to enjoy the benefits and features of large, expensive phone systems without the prohibitive initial expense or ongoing maintenance costs.
"The Brooks Communication acquisition ensures smooth implementation of OfficePhone2.0 using a synergistic telecommunications company with established distribution channels and service capability. Brooks has an impeccable 30 year reputation in Albuquerque, and we are delighted to have Mr. Brooks and his team join iPhone2's family," said Charles Greenberg, President and CEO of iPhone2, Inc.
Brooks Communication is one of the oldest and most respected business communications system providers in Albuquerque, currently servicing approximately 500 customers in the greater Albuquerque area with sales exceeding $580,000 for 2006.
Clark Brooks, CEO of Brooks Communication, stated, "We're delighted with the opportunity to become part of iPhone2's expansion and acquisition strategy. iPhone2's proprietary OfficePhone2.0 VoIP products will enhance and complement our existing product lines nicely. It benefits our employees and customers by providing a continuing platform for market expansion."
Albuquerque was recently voted one of the five best cities in the country which to do business by Forbes Magazine, and Kiplinger's recognized it as one of the nation's top three "Smart Places to Live."
iPhone Inc. www.iPhone2.com (Pink Sheets:IPHE) is an innovative Voice and Video over Internet Protocol communication provider offering residential and business customers user friendly and affordable ways to communicate more effectively. Our proprietary ImagePhone allows customers to make and receive unlimited near broadcast quality video calls right from their computer desktop. They can also make VERY affordable voice calls worldwide to any telephone using our VoIP network. ImagePhone was developed to be straightforward and user friendly. OfficePhone2.0 replaces your old fashioned, expensive, complex PBX (or standard telephone service) with economical, reliable, and expandable feature rich IP phones. OfficePhone2.0 operates just like a regular phone, yet allows you to do things your old fashioned office phone could never do.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although iPhone2 believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be correct. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by iPhone2 or any other person that the objective and plans of iPhone2 will be achieved.