Contact Information: Contact: www.FTSGroup.com Scott Gallagher CEO Voice: (215) 688-2355 e-mail: Email Contact
FTS Group Closes Acquisition of Direct Navigation Ring Tone Network
Company to Begin Generating Internet Revenue Immediately
| Source: FTS Group, Inc.
TAMPA, FL -- (MARKET WIRE) -- March 12, 2007 -- FTS Group, Inc. (OTCBB : FLIP ), an acquisition and
development Company operating in the wireless, technology and Internet
space, today announced that it has closed the all-cash acquisition of a
ring tone network of 161 operating web sites and direct navigation domain
names. The closing of the acquisition was delayed due to technical issues
with the escrow agent.
FTS Group CEO Scott Gallagher commented, "We're pleased to have closed this
important strategic acquisition. Broadening the revenue base of FTS
Wireless into the mobile content arena is a natural fit for our Company and
something we've been trying to achieve for some time." Gallagher continued,
"We plan to leverage this acquisition by rolling out proprietary mobile
products in the future. We're currently developing our first proprietary
custom ring tone/mobile content subscription-based product with our
strategic partner Maxim Software. We hope to complete development of the
new product for deployment by the end of Q2."
About FTS Group, Inc.
FTS Group, Inc. (OTCBB : FLIP ) is a publicly traded holding company
operating in the wireless industry through its wholly owned subsidiaries
FTS Wireless, Inc. and See World Satellites, Inc. The Company operates
through retail locations in Florida and Pennsylvania and globally over the
Internet through its web sites www.FTSGroup.com, www.CellChannel.com,
www.SeeWorld.biz and www.FTSWireless.com. For additional information about
FTS Group, Inc. or any of its wholly owned subsidiaries please review the
Company's quarterly, annual and other filings with the Securities and
Exchange Commission at http://www.SEC.gov or contact the Company at the
e-mail or phone number below.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements,
involving risks and uncertainties, which are covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's financial performance. Such
statements are based on management's current expectations and are subject
to certain factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to or
implied by such statements. In addition, actual future results may differ
materially from those anticipated, depending on a variety of factors, sales
and earnings growth, ability to attract and retain key personnel, and
general economic conditions affecting consumer spending, including
uncertainties relating to global political conditions, such as terrorism.
Information with respect to important factors that should be considered is
contained in the Company's Annual Report on Form 10-K and 10-K/A as filed
with the Securities and Exchange Commission. Readers are cautioned not to
place reliance on these forward-looking statements, which speak only as of
the date hereof.