NEW YORK and KINGSTON, Jamaica, Sept. 29 /PRNewswire-FirstCall/ -- Digital Utilities Ventures, Inc. (DUTV), an innovator in over the IP video transport systems with its breakthrough New Last Mile Platform, announced today that it had signed an agreement to acquire Jamaica Network Access Point, LTD (JNAP). Upon closing the deal, Mark Reid, CEO of JNAP will become the CEO of Digital Utilities Ventures.
Operations - JNAP, operating as a wholly owned subsidiary of Digital Utilities Ventures (DUTV), will offer hardware, software, consulting, and support services to carriers and content suppliers in its capacity as the emerging de facto connectivity hub for the Caribbean and longer term the underdeveloped world. Leveraging the strengths of the two companies, DUTV will establish its video transport technology, hardware and support services center in Jamaica and its software research and development facility in Dallas, Texas. The company will also benefit from the cost-effective software development and engineering resources within its Network operations center.
Combined Technology Portfolio - The merger creates a combined technology portfolio that extends from the traditional point of one-service product offerings to using DUTV's New Last Mile Technology to converge critical infrastructures and services such as Television Broadcasting via the Internet directly to the TV and Cell Phones with WiMAX (4G), WiFi, 3G, Fiber, or Cable as the delivery systems to form one common network transport system. . .all through its Network Operating Center (NOC) located at the Company's World Operating Headquarters in Kingston, Jamaica.
"We are very excited about this ingenious consolidation of businesses," said Garry McHenry, President of Digital Utilities Ventures. "By leveraging the strengths and diversities of the combined operations, we can offer our current and future customers an expanded network for technical support and integrated communications for a global market."
Added Mark Reid, CEO of JNAP, "With our one-stop-shop capabilities, we offer telecommunication providers the possibility of covering all areas of products and services to all digital devices on their network with JNAP as a central network access point partner. In addition, with the flexibility of this Convergence Program, we can provide both end-to-end solutions and modular solution packages that allow step-by-step system integration. Finally, this merger will enhance our financial stability through efficiencies gained by consolidating our business operations and our strong government/B-to-B client roster, create significant product and market synergies, and expand our product and service offerings to our Caribbean and Global customer base."
About Jamaica Network Access Point, LTD - JNAP is Jamaica's independent communications services company specializing in all aspects of network, communications and service support activities such as:
1. Cell Site Support Services from Green Field to Maintenance 2. Network Service Provisioning for Fiber, IP Voice and Data 3. Internet Services for Consumer Broadband & VoIP 4. Business Protection Facility & Data Center 5. Carrier Neutral Interconnect Services
About Digital Utilities Ventures, Inc. (Pink Sheets: DUTV) - Digital Utilities Ventures is an intellectual property company and advanced technology incubator. The Company was formed to manufacture and market its innovative, Internet to TV and Cell Phone Communications System for the domestic and international Quad-Play/Convergence services industries. Called The New Last Mile, it uses an Internet based platform to deliver its TV programming. This means that DUTV can deliver live programming of broadcast quality from anywhere in the world over the Internet directly:
-- To TV sets without the aid of computers (IP ready) by simply piggybacking on existing broadband connections, and -- To cell phones worldwide via WIFI, Mobile Telephone Switching Office (MTSO) 3G networks, and the emerging next generation 4G WiMAX
All using under 1 megabit of the Internet as the backbone to the television set and 150 kilobits to the cell phone
In effect, creating the first global "Virtual Cable Television Network". (Website: http://www.dutv.us/)
For further information contact: Garry McHenry President Digital Utilities Ventures, Inc. Phone: (561) 424-1965 E-mail: gmchenry@gmail.com Safe Harbor Statement
In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
Digital Utilities Ventures, Inc.
CONTACT: Garry McHenry, President, Digital Utilities Ventures, Inc.,
+1-561-424-1965, gmchenry@gmail.com
Web Site: http://www.dutv.us/
