SOURCE: Rapid Link, Inc.

July 16, 2008 10:25 ET

Rapid Link Completes Acquisitions of iBroadband Networks and iBroadband of Texas

Over 3000 Customers, Business Class Wireless Network in Greater Dallas Area

OMAHA, NE--(Marketwire - July 16, 2008) - Rapid Link, Incorporated (OTCBB: RPID), a leading provider of Broadband and Diversified Communication Services, announced today that it has acquired the assets of iBroadband Networks, Inc. and iBroadband of Texas.

The asset purchase of the customer bases and operating networks of iBroadband Networks and iBroadband of Texas will add over 3000 active customers and a fully deployed wireless network to the growing Rapid Link portfolio of operations.

John Jenkins, CEO of Rapid Link, commented, "We are very excited to consummate the Texas acquisitions. The iBroadband operations are very synergistic with One Ring Networks, our recent acquisition in Atlanta, and indeed offer economies of scale in both Dallas and Atlanta. A chance to grow our business through these accretive acquisitions is a rare opportunity that we feel will produce dramatic income results quickly."

Mike Prachar, Chief Operating Officer of Rapid Link, added: "By completing this acquisition, Rapid Link can now proceed with much anticipated upgrades of the iBroadband network, which will soon allow the sale of bundled voice services to the existing iBroadband customer base. Adding voice is a proven method for adding revenue and increasing value before we add a single customer."

About Rapid Link

Rapid Link, Incorporated is a Diversified Communication Services company, supplying bundled internet and voice services to Business and Residential customers. Rapid Link offers broadband access via its own facilities to ensure fast and reliable delivery of its content. As a leading licensed WiMAX carrier, Rapid Link is on the cutting edge of this exciting new technology. We are one of the only carriers that can offer an end-to-end solution for our customers without a dependency on any other company's resources.

For more information, visit www.rapidlink.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, risks and uncertainties such as the failure to satisfy contractually agreed upon closing conditions that may delay or prevent the closings of subsequent debt financings contemplated by the applicable agreements; the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the trading price of the Company's common stock reaching levels that would cause funding to occur; the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.

Contact Information

  • Contact:
    Investor Relations
    Rapid Link, Incorporated
    Tel.: 402-392-7561

    Or:

    David Elias
    Investor Relations
    DME Capital
    516-967-0205