News for the Hospitality Executive |
DENVER, CO – June 22, 2010 – Roomlinx, Inc. (OTC: RMLX), the innovative supplier of hospitality in-room Interactive TV products, today announced it has signed a non-binding term sheet to acquire Canadian Communications (‘Canadian’) of Broomfield, CO, a leading provider of New Release Pay-per-View Movies to over 20,000 hotel rooms in North America and the Caribbean through its subsidiary company, Cardinal Hospitality (www.cardinalhospitalityltd.com). Canadian Communications also offers free-to-guest TV programming, voice and broadband services to hotels, small businesses, and MDU (Multiple Dwelling Unit) communities. The addition of Canadian’s studio content agreements to Roomlinx’ Interactive TV product expands Roomlinx’ position as one of the most comprehensive entertainment providers in the hospitality segment offering an extensive library of new release titles and bundled content movie packages both domestically and internationally. The addition of Canadian’s pay-per-view, voice and TV divisions to Roomlinx’ Interactive TV, HSIA and networking divisions will allow Roomlinx to offer hotels versatile business models to maximize any budget. “Hotel owners will no longer need to choose between continuing with traditional pay-per-view products or upgrading to a new generation product like Roomlinx Interactive TV. Roomlinx will be able to blend a program to meet any property’s budget.” commented Mike Wasik, CEO of Roomlinx. “Whether a property just wants a digital refresh or desires the most advanced in-room guest amenity available, or a blend of the two, Roomlinx can meet their needs.” “Hotel owners are recognizing that guests desire new and exciting in-room options, but the recent economic climate has caused hotels to focus on the immediate need to upgrade to digital programming. The synergy of a Canadian/Roomlinx combination will allow properties to meet their digital needs today without locking into a static technology,” commented Ed Garneau, CEO of Canadian. Roomlinx also plans to offer cost saving packages that include high speed Internet, free-to-guest TV programming, pay-per-view options, Interactive TV, phone and converged network services. Closing of the transaction is expected to follow customary closing conditions, but no assurances can be given that a definitive agreement for the sale will be entered into or that the conditions to consummating the transaction contained in any such definitive agreement will be met. About Roomlinx Roomlinx is the hospitality in-room expert providing in-room Interactive TV products for hotels, resorts, and other properties, utilizing premium content and applications demanded by today’s traveler. For more information about Roomlinx, visit www.roomlinx.com. About Canadian Communications Canadian Communications is a leading provider of premium, digital video on demand systems for the hospitality industry and voice, video, and data services for commercial and residential markets. For more information, visit www.cardinalhospitalityltd.com and www.cardinalbroadband.com. Safe Harbor Cautionary Statement Certain statements in this news release, including statements that we "believe," "expect," "intend," "plan" or words of similar import, are forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans, new products and services and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: the company's successful implementation of the new products and services, demand for the new products and services, the company's ability to successfully compete against competitors offering similar products and services, general economic and business conditions; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of the Company's Securities and Exchange Commission filings available at http://www.sec.gov, which you should carefully review. Roomlinx does not assume any obligation to update or revise any forward-looking statements, whether as the result of new developments or otherwise. |
Contact:
Kelly Frey Roomlinx, Inc. (720)880-5155 [email protected] |
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