Contact Information: Contact: www.FTSGroup.com Scott Gallagher CEO Voice: (215) 688-2355 e-mail: Email Contact
FTS Wireless Agrees to Acquire Direct Navigation Ring Tone Network
| Source: FTS Group,Inc.
TAMPA, FL -- (MARKET WIRE) -- January 18, 2007 -- FTS Wireless, Inc. a wholly owned subsidiary of
FTS Group, Inc.(OTCBB : FLIP ) an acquisition and development Company, today
announced that it has agreed to acquire a ring tone network of 161 web
sites and related domain names.
FTS Group Chairman and Chief Executive Officer Scott Gallagher, commented,
"We're very excited with this deal and the opportunity to expand our fast
growing wireless business into the global mobile music industry. The target
ring tone network includes some of the top 'type in' domain names in the
industry and 161 fully functioning revenue generating web sites. We expect
the new revenue channel to be immediately accretive to earnings.
According to Broadcast Music Inc., a performing-rights organization, U.S.
ring-tone sales will hit $600 million in 2006, up from $500 million last
year. Worldwide, ring tones account for 81% of $6.7 billion in mobile music
sales, according to Juniper Research, a U.K.-based firm, though Juniper
expects that share to drop to 51% by 2011, when the total market will hit
$14.1 billion. In the U.S., there are now 217.4 million cell-phone users,
according to the Cellular Telecommunications and Internet Association
(CTIA), a wireless trade group, indicating that just over 11% are currently
downloading ring tones.
About FTS Group, Inc.
FTS Group, Inc. (OTCBB : FLIP ) is a publicly traded holding company
operating in the wireless industry through its wholly owned subsidiaries
FTS Wireless, Inc. and See World Satellites, Inc. The Company operates
through retail locations in Florida and Pennsylvania and globally over the
Internet through its web sites www.FTSGroup.com, www.CellChannel.com,
www.SeeWorld.biz and www.FTSWireless.com. For additional information about
FTS Group, Inc. or any of its wholly owned subsidiaries please review the
Company's quarterly, annual and other filings with the Securities and
Exchange Commission at http://www.SEC.gov or contact the Company at the
e-mail or phone number below.
Forward-Looking Statements
Included in this release are certain "forward-looking'' statements,
involving risks and uncertainties, which are covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's financial performance. Such
statements are based on management's current expectations and are subject
to certain factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to or
implied by such statements. In addition, actual future results may differ
materially from those anticipated, depending on a variety of factors, sales
and earnings growth, ability to attract and retain key personnel, and
general economic conditions affecting consumer spending, including
uncertainties relating to global political conditions, such as terrorism.
Information with respect to important factors that should be considered is
contained in the Company's Annual Report on Form 10-K and 10-K/A as filed
with the Securities and Exchange Commission. Readers are cautioned not to
place reliance on these forward-looking statements, which speak only as of
the date hereof.