EXHIBIT 99.1
ERF WIRELESS SIGNS AGREEMENT TO ACQUIRE THE DOOR WIRELESS BROADBAND OPERATIONS
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ACQUISITION ADDS ONE OF TEXAS' LARGEST WISPS WITH APPROXIMATELY 25,000 SQUARE
MILES OF WIRELESS COVERAGE TO COMPANY'S SECURE BANK NETWORK STRATEGY
LEAGUE CITY, Texas, Dec 20, 2006 (BUSINESS WIRE) -- ERF Wireless (OTCBB:ERFW),
the nation's leading provider of secure wireless networks for the regional
banking industry, announced today that it has completed the acquisition of the
wireless broadband assets and operations of Southwest Enhanced Network Services,
LP, (dba The Door to the Internet, "The Door"), a wireless broadband affiliate
of Windstream Corporation. The all cash transaction closed on December 15, 2006,
and includes all of the current customers and network infrastructure equipment
including approximately 59 towers. The Door acquisition provides ERF Wireless
access to a large geographic area adjacent to Lubbock, Texas, and the
surrounding Panhandle and New Mexico communities. The acquisition covers
approximately 25,000 square miles of coverage area with a population of more
than 400,000 businesses and residents.
According to H. Xxxx Xxxxxx, CEO of ERF Wireless, the acquisition of The Door
network is the sixth wireless network acquired by ERF Wireless over the past two
years. "We plan to integrate The Door into our ERF Wireless Bundled Services
Inc. subsidiary and pursue capturing additional market share in their
strategically located territories across West Texas. This acquisition
complements our already growing Central and South Texas networks that now cover
thousands of square miles from Central Texas to the Texas Gulf Coast." Xxxxxx
added, "We believe that The Door has built a first-class network and has
achieved a solid reputation with its existing customer base of more than 1,500
customers and over $1,000,000 of recurring annual revenue. With the strength of
our operations and support teams behind the foundation built by The Door,
coupled with an underserved geographic territory, we believe that we can achieve
market share increases with both commercial and residential customers that
should positively respond to the advantages of secure wireless broadband
communications and other services. This is in addition to the support capability
that The Door will bring to our future bank customers that will be added in this
region."
R. Xxxx Xxxxx, CFO of ERF Wireless, commented, "The acquisition of
strategically-located profitable wireless broadband networks is an essential
part of the company's core business plan of generating recurring revenues
through the acquisition and/or construction of enterprise-class wireless
broadband networks in underserved parts of the country. Additionally, as a part
of our wireless offering to the regional banking industry, we are focusing on
acquiring profitable networks in strategic locations that will allow the company
to provide support and technical expertise to the financial institutions that
the company is currently or expects to be serving."
Xxxx X. Xxxxx, COO of ERF Wireless, stated, "Our acquisition of The Door is a
part of the company's overall business strategy to align an ERF Wireless WISP
operating network around each of our BranchNet Banking customers so we can
market additional ERF Wireless products to the bank's customer base. Execution
on this strategy is making it possible for ERF Wireless to achieve its plan to
capture a substantial share of the $9 billion secure wireless market for
community, regional and nationwide financial institutions in the U.S."
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation (OTCBB:ERFW) that
specializes in providing secure wireless broadband product and secure service
solutions to banking and commercial clients on a national basis. Its principals
have been in the network integration, Internet banking and encryption technology
businesses for over twenty years and have constructed encrypted wireless
broadband networks as well as secure Internet banking solutions for hundreds of
banks across America. For more information about ERF Wireless, please visit
XXX.XXXXXXXXXXX.XXX or call 000-000-0000. (ERFWG)
Forward-looking statements in this release regarding ERF Wireless Inc. are made
pursuant to the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such forward-looking statements
involve risks and uncertainties, including, without limitation, continued
acceptance of the company's products, increased levels of competition, new
products and technological changes, the company's dependence upon third-party
suppliers, intellectual property rights, and other risks detailed from time to
time in the company's periodic reports filed with the Securities and Exchange
Commission.
SOURCE: ERF Wireless Inc.
ERF Wireless, Inc.
Xxxxxxx X'Xxxxx, 281-538-2101 ext. 113
xxxxxxx@xxxxxxxxxxx.xxx
Copyright Business Wire 2006
