SOURCE: Viper Networks, Inc.

VPER, Viper Networks, VoIP, India, Riyadh, Saudi Arabia

October 29, 2009 09:00 ET

Viper Networks (VPER) Announces 49% LOI for Saudi Arabian Construction Company

TROY, MI--(Marketwire - October 29, 2009) - Viper Networks, Inc. (PINKSHEETS: VPER), a global telecommunication network operations and technical management company, announced today that it has signed a Letter of Intent to acquire a 49% interest of a privately held, profitable construction company based in Saudi Arabia, for a combination of cash and stock.

Farid Shouekani, President of Viper Networks, commented: "As we continue to aggressively expand our telecommunications division, this acquisition not only provides the Company with a sizable investment in existing real estate and construction projects throughout the Middle East, but also provides us immediate access to a well established team of proven professionals to help bring our non-teleco related projects to fruition in the Company's emerging real estate, construction and energy divisions."

Mr. Shouekani continued, "This additional interest in high-quality properties in our core markets represents an excellent opportunity for Viper Networks to add value with a modest investment."

The Company anticipates completing due diligence, closing this acquisition and announcing the financial and other pertinent details within the next 45 days.

For information, visit www.vipernetworks.com, or contact Rich Kaiser, Investor Relations (800) 631.8127 or e-mail info@vipernetworks.com.

This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof; and Viper Networks' actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business.

Contact Information

  • CONTACT:
    RICH KAISER
    800.631.8127