AUSTIN, TX--(Marketwire - Jul 19, 2012) - WWA Group, Inc. (OTCBB: WWAG) announced today that it has agreed to acquire all of the issued and outstanding shares of Summit Digital, Inc. ("Summit Digital"), a Michigan-based multi-system operator providing Cable TV, Broadband Internet, voice telephony and related service to a rapidly expanding base of rural, semirural, and gated communities in the American Midwest.
The transaction provides that the sole shareholder of Summit Digital will exchange one hundred percent (100%) of the issued and outstanding shares of Summit Digital for ninety nine million (99,000,000) shares or eighty percent (80%) of WWA Group and the appointment of two new members to WWA Group's board of directors.
"We have reviewed Summit Digital's business plan in great detail, and we are convinced that it represents a truly compelling opportunity for WWA Group shareholders," commented WWA Group CEO Eric Montandon. "Summit Digital has identified a high-growth niche in a well established business and has a clear, practical, and achievable plan to exploit that niche."
Summit Digital's President Tom Nix stressed the importance of public company status to the company's expansion plan. "Our growth is driven largely by acquisitions," explained Nix. "Our business model is to acquire underutilized Cable systems, many of which offer only TV service, and upgrade them to offer a full suite of TV, Internet, voice and related services. We rely on innovative marketing and management practices that quickly increase existing subscriber bases and revenue per subscriber. Public company status provides enormously increased flexibility in negotiating attractive acquisition terms."
The transaction is expected to be concluded on or before August 20, 2012.
For further investor information, please contact Eric Montandon or Tom Nix or access our Website at www.wwagroup.com or Summit Digital's Website at www.summitdigital.us.
A number of statements contained in this press release are forward-looking statements. These forward-looking statements involve a number of risks and uncertainties including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing as required. The actual results WWA Group may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. WWA Group encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-K and Form 10-Q. WWA Group's public filings may be viewed at www.sec.gov.