GAWK Closes Acquisition of Xtelus, Bringing Annual Revenue to $7-M
Los Angeles, CA…July 12, 2016 – GAWK Inc. (OTC PINK:GAWK) Scott Kettle, CEO, today announced that the Company has acquired the VOIP assets of Xtelus LLC, a North Carolina LLC and Xtelus S.A, a Dominica International Business Company. “This new addition to GAWK will put the Company at an annual revenue run rate of approximately $7 million,” said Scott Kettle, GAWK CEO. “The $1 million in annual revenue Xtelus adds to our bottom line proves our strategy of evolution by acquisition, plus continuing organic growth. The Xtelus executive team is widely known in our industry as specialists in VOIP technology, and combines seamlessly with our strong management team.”
The acquisition of Xtelus is GAWK’s fourth acquisition since the Company’s founding in 2013, joining Net D Consulting, Connexum and Web Runners.
Xtelus operates an industry-leading, high performance digital network, which provides the foundation for its full array of wholesale and retail communications services. It’s highly scalable, fully redundant core switching fabric supports SIP and H.323 signaling along with full support for a large range of codecs, including integrated transcoding to ensure the highest levels of flexibility and interoperability.
On Tuesday May 24th, the Company filed its Annual Report for the year ended January 31, 2016, in which it reported that the Company’s revenue for the year increased by 984%.
Xtelus’ Long Distance services are designed for reliability and security–Guaranteed network up time at 99.999%*, and customers can connect to the Xtelus network from anywhere in the world. http://xtelus.com. 3650 Rogers Road #343 Wake Forest, NC 27587. Email: [email protected]. Phone: 1.301.244.2500
About GAWK, Inc.
Gawk, Inc. offers a suite of cloud communications, cloud connectivity, cloud computing, and managed cloud-based applications solutions to small, medium, and large businesses; and offers domestic and international voice services to communications carriers worldwide. It offers a suite of advanced data center and cloud-based services, including fault tolerant, high availability cloud servers, which comprise platform as a service, infrastructure as a service, and a content delivery network; managed network services that converge voice and data applications, structured cabling, wireless, and security services, as well as include Internet access via Ethernet or fiber at speeds ranging from 10 Mbps to 10 Gbps; and data center solutions, including cloud services, colocation services, and business continuity services, such as storage and security. www.gawkinc.com
All statements in this release that are not strictly historical facts are “forward-looking statements.” Such forward-looking statements are based on GAWK’s current assumptions, beliefs and expectations, and involve risks, uncertainties and other factors that may cause GAWK’s actual results to be materially different from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words such as “expect,” “plan,” “possibility,” “offer,” “if,” “negotiate,” “when,” “believe,” “will,” “estimate,” “continue,” and similar expressions. Risks, uncertainties, and other factors that could cause or contribute to such differences include, but are not limited to: ongoing and future intellectual property enforcement actions; the ability to successfully litigate or settle claims of patent infringement; GAWK’s ability to obtain necessary financing, generate sufficient cash flow, and maintain appropriate indebtedness; and the increasing development of market competition in the area of telecommunications. These factors and others are described in more detail in GAWK’s public filings with the Securities and Exchange Commission, including the risks discussed in the “Risk Factors” section in GAWK’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of these reports can be found on GAWK’s website (http://gawkinc.com) under the heading “Investor Relations.” GAWK is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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