HOLLYWOOD, Calif., Nov. 29, 2006 (PRIME NEWSWIRE) -- Zeros & Ones, Inc. (OTCBB:ZROS), a digital media and technology holding company, today announced the acquisition of certain key technology and intellectual property assets held by WAA, LLC, a holding company that acquired such assets from Centerpoint Broadband Technologies, Inc.
Centerpoint Broadband Technologies (Centerpoint), an optical networking and wireless communications company formed in the late 1990's with roots in Lockheed Martin, built an optical networking platform and a broadband wireless platform based around unique high speed communication technologies originally developed for military applications. Centerpoint raised in excess of $200,000,000 which it used to develop a portfolio of patents, products and other proprietary intellectual property assets that are complementary to Zeros & Ones and RocketStream, its wholly-owned subsidiary.
Mark Laisure, Chairman and CEO of Zeros & Ones commented, "We have been familiar with Centerpoint's technologies since the company was spun out of Lockheed Martin. The Centerpoint technologies combined with RocketStream and other Zeros & Ones' products in development are another important step to our vision of one network, one solution. We will be able to offer products and services across the Zeros & Ones' network from the physical layer, through to applications and content. This acquisition is a pivotal step toward our ultimate goal and another key milestone in our turnaround effort."
Dana Waldman, former Centerpoint CEO added, "I am happy to see the Centerpoint intellectual property in the hands of Zeros & Ones. I believe in the vision they have and I am pleased to play a part in it. As an integrated media and technology company, Zeros & Ones is poised to break new ground. The technologies of Centerpoint and RocketStream blend nicely to help achieve new levels of performance for consumers, enterprises and carriers throughout the infrastructure."
As part of Zeros & Ones' acquisition of the Centerpoint assets, Dana Waldman, will join the Board of Directors of Zeros & Ones.
Zeros & Ones is focused on bringing innovative technologies, media assets and strategic partnerships together to deliver next-generation commercial and consumer solutions to empower, enhance and enrich our digital world.
About Zeros & Ones
Founded in 1994, Zeros & Ones (OTCBB:ZROS) is a digital media and technology holding company focused on bringing innovative technologies, media assets, and strategic partnerships together to deliver next-generation commercial and consumer solutions. The company intends to work with strategic partners in the technology and entertainment sectors to locate, partner with, and acquire complementary technologies and media assets that position the company in the value chain from content creation to direct distribution to the consumer
This news release contains forward-looking statements, including but not limited to, those that refer to the company's future development plans or operating results. Actual results could differ materially from those anticipated due to risk factors that include, but are not limited to, lack of timely development of products and services; lack of market acceptance of products, services and technologies; inadequate capital; adverse government regulations; competition; breach of contract; inability to earn revenue or profits; dependence on key individuals; inability to obtain or protect intellectual property rights; inability to obtain listing for the company's securities; lower sales and higher operating costs than expected; technological obsolescence of the company's products; limited operating history and risks inherent in the company's markets and business.