Titan Global Holdings, Inc. (OTCBB:TTGL Stock Forums), a high-growth diversified holding company, announced that Titan Wireless, a division of Titan Communications, entered into a wireless sales distribution agreement with a national retail chain to distribute more than 36,000 Ready Mobile-branded PCS handsets and expand the Company’s nationwide distribution system by an additional 6,000 locations. The agreement further validates the Company’s high-growth business strategy focused on generating revenues from trusted wireless brand products through a retail distribution system that now reaches more than 70,000 locations. For competitive reasons, Titan isn’t identifying the national retail chain.
Titan Wireless, through its well-known brands Ready Mobile, Mojo Mobile, Picante Movil and Bravo, is a leading provider of cost-effective prepaid wireless offerings through its mobile virtual network operator (MVNO) agreement with Sprint PCS. Titan Wireless completed its purchase of the assets of Ready Mobile, LLC, a national Sprint MVNO generating $12 million in annual revenues, in May, 2007.
“Titan Wireless continues to add strategic retailers that leverage the advantages inherent in our product offerings,” said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. “Fred Haumesser and his sales team have done a brilliant job with our wireless products and Glen Jasper has integrated our wireless division and expanded our base of operations to meet this growing demand. We will continue to create value from our wireless division for our shareholders in fiscal year 2008.”
Titan recently issued revenue guidance for fiscal 2008 that includes Titan Wireless’ expected $23.5 million contribution to the Company’s stated overall revenue guidance of $747 million for fiscal 2008. The positive revenue impact of the Company’s agreement with this national retail chain isn’t reflected in this guidance.
“The planned addition of this national retail chain is very exciting for us,” said Dennis Henderson, President of Titan Wireless. “This milestone win for the company complements our national retail footprint, making it easier for our customers to find Ready Mobile handsets and airtime. We look forward to providing these new customers with high quality, reliable wireless communications solutions.”
About Titan Global Holdings
Titan Global Holdings, Inc. is a high-growth diversified holding company with a dynamic portfolio of companies engaged in emerging telecommunications markets, advanced technologies and energy. In its last fiscal year Titan generated in excess of $109 million in revenues on a consolidated basis.
Titan's Oblio Telecom Inc. ("Oblio") telecommunications subsidiary, based in Richardson, Texas, is a market leader in prepaid telecommunications products and the second largest publicly-owned international telecommunications company focused on the prepaid space. Oblio leverages strategic agreements with Tier 1 telecommunications leaders Sprint and Level3 to supply its brand-name prepaid calling cards. Annually Oblio sells an estimated 35 million of its brand-name prepaid calling cards through its established distribution channels estimated at more than 60,000 retail outlets.
Titan Wireless, Inc. ("T Wireless") is Titan's wireless subsidiary and is a mobile virtual network operator ("MVNO"). T Wireless sells its MVNO prepaid wireless products and wireless services through Oblio's established distribution channels. Titan's Electronics and Homeland Security division specializes in advanced manufacturing processes to provide commercial production runs and quick-turn delivery of printed circuit board prototypes for high-margin markets including Homeland Security and high-tech clients.
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