SOURCE: Zcom Networks

April 03, 2007 14:38 ET

Zcom Networks, Inc. NASDAQ: ZCMN Announces Share Exchange Agreement With USP Communications, Inc.

SALT LAKE CITY, UT -- (MARKET WIRE) -- April 3, 2007 -- Zcom Networks, Inc. (PINKSHEETS: ZCMN) is pleased to announce today that it has completed a share exchange agreement with USP Communications, Inc., a Utah corporation. One of the most significant terms of the Agreement called for the acquisition of 100% of the issued and outstanding shares of USP by Zcom Networks.

Dr. Alex Parsinia, CEO of Zcom, stated: "This is a very fortuitous acquisition for the shareholders of Zcom. The products and services of USP will be a great complement to current products offered though our wholly owned subsidiary, Matrix Telecom. The completion of the share exchange agreement adds a great deal of new strength to our company."

Mark Sain, CEO of USP Communications, stated: "I have been looking forward to the completion of the share exchange agreement for some time. This is an extremely exciting strategic alliance for USP Communications. The products and services of our company and Matrix Telecom are a natural fit together and will ultimately reflect on our consolidated financials."

About USP: USP COMMUNICATIONS has provided telecommunication solutions for twenty-one years. During this time, USP Communications has emerged as a leading provider of long distance, pre-paid long distance, and operator-assisted services. USP provides a comprehensive simple solution for our customers. USP provides broadband phone service in domestic and International markets. USP's unique broadband phone service offers VoIP anywhere. Customers can access phone service from home, WiFi phone and toll free from 80 countries. The service includes traditional, residential, WiFi access and domestic and International service.

About Matrix: Matrix is a leading telecommunication company providing products and services, including domestic and international long distance services, pre-paid calling cards, pre-paid wireless, wholesale long distance, Point of Sale Activation (PoSA), toll free numbers and switch leasing. Matrix locates its switching equipment in the Quimby Building adjacent to the One Wilshire Building located in Los Angeles, CA. This facility was built especially for telecom. The area is home to virtually all of the market leaders in the telecommunications industry. Matrix's Corporate Headquarters is a high-tech facility located in Salt Lake City, Utah with sales and network offices also in Los Angeles, California and Miami, Florida.

Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.

Contact Information

  • Contact Info:
    Dr. Alex Parsinia
    CEO
    1890 S 3850 W
    Salt Lake City, UT 84104
    (801) 990-0327
    Email: Email Contact