DELRAY BEACH, Fla., June 9, 2008 (PRIME NEWSWIRE) -- InZon Corporation (OTCBB:IZON), in concert with the execution of its strategic development plan, today announced that the Company and its subsidiary InZon Wireless, Inc. have signed a letter of intent to acquire a high speed Internet and franchised cable television provider with operations in 5 Midwestern states.
The transaction is subject to the signing of definitive agreements and customary closing conditions, and is expected to close in tandem with the CLEC acquisition previously announced by the Company on February 11, 2008.
Mr. Sidney "Trip" Camper III, inZon's President and CEO, said, "This acquisition, combined with a solid CLEC and long distance carrier, will significantly expand our customer base and result in almost immediate accretive earnings."
About inZon
inZon Corporation is a Global Media and Communications company dedicated to acquiring and streamlining video, voice and data providers with solid earnings and well established subscriber bases. InZon contributes significant value added resources and technologies to these companies to create unique "triple play & quad play" solutions by integrating their disparate cable, broadband and telephone businesses resulting in greater bottom line profits.
inZon's software application group, SAE, owns a unique suite of proprietary Operations Control Support Software (OCSS) that has been licensed to an impressive range of clients from the broadcast, telecom, media, satellite and other industries, such as NBC, CBS, Hughes Television Network, British Telecom, PanAmSat, CIGNA and many others. In addition, InZon's VeriCash Division is developing systems for Stored Value/Mobile Wallet payment technologies designed to allow users to send money from their cell phone. This technology acts as a Virtual Point of Sale device via secure modes in most countries in the world.
inZon's WorldHub Exchange (WorldHubX) subsidiary is tasked to provide centralized switching facilities and exchange services that will offer neutral interconnectivity options, providing significant economies of scale to the global telecom industry in a joint venture with NewCom International, (www.newcom-intl.com). This alliance provides the latest technology in satellite, telecommunications and disaster recovery facilities services to a diverse array of international clients utilizing their experienced management and engineering staff working 24/7 from strategically located collocation facilities, ensuring a seamless one-stop solution for all global communication needs.