TNW to provide UnitedCorp with back office, network and cloud infrastructure to support its fixed and mobile connectivity for Smartphone-over-IP, cloud spectrum and social media posting gateway technologies
MIAMI, FL, June 30, 2017 /CNW/ - Miami-based United American Corp ("UnitedCorp"), (OTC: UAMA) is pleased to announce that it has acquired Canadian-based TNW Networks Corp (TNW) through a share exchange agreement with TNW shareholders that becomes effective today at 5:00 PM Eastern Time. TNW becomes a wholly-owned subsidiary of UnitedCorp.
UnitedCorp management sees the acquisition as an important strategic component of its business plan as TNW will provide all backbone networks, cloud infrastructure and back office services to support UnitedCorp's deployment of iPCS and iFramed through TNW Wireless Inc. and iFramed Canada Ltd which were acquired earlier this week. The acquisition will also benefit current TNW clients as the company will now be able to provide them with next generation mobile technology in addition to current high quality telecommunications services.
The company recently completed an initial round of financing and is now in the process of undertaking a second round.
"The TNW acquisition is a critical step in UnitedCorp's goal of becoming a world leader in Smartphone-over-IP, cloud spectrum connectivity and social media posting gateway technologies," stated UnitedCorp President, Benoit Laliberté, "TNW has long history of providing high quality telecommunications and technology services to business, enterprise and residential customers "
Further information on the acquisition will be released in the near future.
UnitedCorp is a Florida-based holding and management company focusing on telecommunications and information technologies. For more information, visit: www.unitedcorp.com
TNW is a provider of telecommunications and cloud services. It has long history and is the product of a number of corporate consolidations which include Orion Communications, Dialek and Teliphone amongst others. TNW Wireless Inc. is a licensed wireless operator. The company currently holds 25MHz bandwidth tier-2 850 MHz spectrum licenses, is a registered wireless carrier and provide global communication services through its proprietary iPCS Smartphone-over-IP cloud spectrum technology. For more information, visit: www.tnwcorp.com
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.
SOURCE United American
For further information: Jenna Trevor-Deutsch, Investor Relations, [email protected]