HOUSTON, July 26, 2007 (PRIME NEWSWIRE) -- Security Financing Services, Inc. (Pink Sheets:SCYF), provider of sophisticated, IP and physical security convergence solutions, moved to increase its solutions portfolio by announcing its signing of a letter of intent to acquire Eagle Broadband, Inc.'s (OTCBB:EAGB) SatMAX business unit.
SatMAX creates a satellite communications "hotspot," enabling multiple callers to use wireless Iridium-based satellite telephones in both outdoor and indoor settings without losing a signal. With SatMAX, customers of the Iridium satellite network can use their satellite phones or data terminals to make multiple concurrent calls within SatMAX-enabled "hotspot" areas from anywhere on Earth. The full range of the features and capabilities of Eagle's SatMAX products can be found at www.impactmovie.com/eaglebroadband.
Don Bresina, Chairman of Security Financing Services stated, "Eagle has done a terrific job of launching the SatMAX line. This product will represent a step-change in the capabilities of SFS and its product lines, well-positioning us to work with U.S. Departments of Homeland Security and Defense, industrial and commercial users, and governmental units across the globe."
"We are pleased to work with the Security Financing Services team on this transaction," said Dick Sanger Vice President of Administration for Eagle Broadband and past General Manager of the SatMAX product line.
Security Financing Services, Inc. is a cutting-edge technology company focused on end-to-end network solutions for customers. Solutions range from the smallest homeowner to the largest government or commercial enterprise. In addition to providing financing services to alarm dealers and integrators, SCYF also operates and manages a portfolio of alarm monitoring accounts throughout Texas and the Southeast. SCYF designs, installs and monitors digital video surveillance networks for government, industrial and commercial application.
Eagle Broadband is a leading national provider of IPTV products and services through its two core divisions:
* IPTV -- Eagle Broadband's IPTVComplete(tm) provides direct access to more than 250 channels of high-demand programming from popular entertainment providers, often using Eagle's high-definition, set- top boxes. * IT Services -- Eagle Broadband's IT Services Group is a full-service integrator offering a complete range of network technology products including VoIP, remote network management, network implementation services and IT project management services. This division also includes Eagle's SatMAX(r) product offering which provides indoor/outdoor communications via Iridium's (www.iridium.com) global satellite communications system. The SatMAX system offers both fixed and mobile solutions, including the Alpha emergency first responder "SatMAX-in-a-suitcase" technology.
For more information on Eagle Broadband, visit www.eaglebroadband.com
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and 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 and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. 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 release.