Telava-IBFA Acquisition and Regulatory License Transfer Near Completion

(Business News & Technology News, 29 Apr 2008)

Telava Networks Inc., an integrated communications provider of wireless broadband connectivity for next-generation fixed and mobile innovative applications, has completed 80 percent of regulatory licenses transfer for IBFA Acquisition Company LLC (IBFA). The operations will continue to be under the auspices of a Management Agreement between the two entities until all regulatory transfer of licenses has been completed. IBFA began operations in 1995, and is a licensed Competitive Local Exchange Carrier (CLEC), long distance provider, and Internet Service Provider (ISP) based in the Midwest.

"We are enthusiastic about the transaction approaching the last mile and expect that the consolidated financial result of IBFA and Telava would truly reflect on the second quarterly report. We look forward to seeing significant impact to our underlying financials on a consolidated basis," comments Baldwin Yung, President, Telava.

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