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Competitive Companies, Inc. Enters "4G" Race with Purchase of Patented Technology
SAN ANTONIO, Sept. 20, 2011 /PRNewswire/ -- Competitive Companies, Inc. "CCI" (OTCBB: CCOP) announced today that it has entered into a Letter of Intent to purchase certain assets of Wytec Incorporated from MediaG3, Inc. The purchase includes five (5) U.S. patents initially developed for Local Multipoint Distribution Services (LMDS) fixed wireless equipment designed by a host of engineering personnel with ties to major well known corporations. CCI is purchasing the Wytec patents along with other assets for $10M in stock and cash involving a unique earn-out strategy. CCI plans to initiate an aggressive R&D effort to upgrade the patents for today's broadband services. "We believe the Wytec patents are well positioned to aggressively compete in the emerging 4G race" comments William H Gray, CEO of CCI.
About MediaG3, Inc.
MediaG3(TM) Inc., ("MG3"), develops and delivers wireless broadband technology products and services for today's fixed and mobile customers. MediaG3 provides wireless broadband Internet access and Internet telephone throughout the US to Tier 1 and Tier 2 communities and will continue to utilize the five key US wireless patents under the Wytec name and offer their wireless broadband technology under Wytec "Next Generation" brands.
About Wytec Incorporated
Wytec Incorporated is a recognized world leader in the development of LMDS wireless equipment. Wytec Incorporated was formed in 1995 by a veteran team of engineers formally with such technology giants as Bell Labs, AT&T Labs, Sun Microsystems, Inc. and Logitech Incorporated. Wytec's arduous design efforts resulted in five "key" U.S. patents enhancing the future development of next generation broadband access with over 100 Megabits Per Second "Mbps." This is substantially greater than what is available in the market today and is expected to make a significant impact in the emerging "Mobile Broadband Market" now exceeding $20 Billion in the U.S. and projected to exceed $70 Billion by 2015.
About Competitive Companies, Inc.
Competitive Companies, Inc. (CCI) http://www.cci-us.com, is a Nevada Corporation with offices in San Antonio, Texas, Eau Clair, Wisconsin and Scottsdale, Arizona. The Company began operations in 1998 to provide telecommunication services including data, voice and video to multiple dwelling units (MDU's) in tier-one and tier-two markets and later included wireless broadband services in rural markets. The Wytec technology is expected to have a substantial impact on the Company's broadband services throughout all communities of North America.
Forward-Looking Statements:
This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. Since forward-looking statements address future conditions, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
SOURCE Competitive Companies, Inc.
Competitive Companies, Inc.
CONTACT: Press /Analyst Contacts: Investor Relations, +1-888-284-4531, ir@cci-us.com
Web Site: http://www.cci-us.com
Competitive Companies, Inc. Enters "4G" Race with Purchase of Patented Technology
SAN ANTONIO, Sept. 20, 2011 /PRNewswire/ -- Competitive Companies, Inc. "CCI" (OTCBB: CCOP) announced today that it has entered into a Letter of Intent to purchase certain assets of Wytec Incorporated from MediaG3, Inc. The purchase includes five (5) U.S. patents initially developed for Local Multipoint Distribution Services (LMDS) fixed wireless equipment designed by a host of engineering personnel with ties to major well known corporations. CCI is purchasing the Wytec patents along with other assets for $10M in stock and cash involving a unique earn-out strategy. CCI plans to initiate an aggressive R&D effort to upgrade the patents for today's broadband services. "We believe the Wytec patents are well positioned to aggressively compete in the emerging 4G race" comments William H Gray, CEO of CCI.
About MediaG3, Inc.
MediaG3(TM) Inc., ("MG3"), develops and delivers wireless broadband technology products and services for today's fixed and mobile customers. MediaG3 provides wireless broadband Internet access and Internet telephone throughout the US to Tier 1 and Tier 2 communities and will continue to utilize the five key US wireless patents under the Wytec name and offer their wireless broadband technology under Wytec "Next Generation" brands.
About Wytec Incorporated
Wytec Incorporated is a recognized world leader in the development of LMDS wireless equipment. Wytec Incorporated was formed in 1995 by a veteran team of engineers formally with such technology giants as Bell Labs, AT&T Labs, Sun Microsystems, Inc. and Logitech Incorporated. Wytec's arduous design efforts resulted in five "key" U.S. patents enhancing the future development of next generation broadband access with over 100 Megabits Per Second "Mbps." This is substantially greater than what is available in the market today and is expected to make a significant impact in the emerging "Mobile Broadband Market" now exceeding $20 Billion in the U.S. and projected to exceed $70 Billion by 2015.
About Competitive Companies, Inc.
Competitive Companies, Inc. (CCI) http://www.cci-us.com, is a Nevada Corporation with offices in San Antonio, Texas, Eau Clair, Wisconsin and Scottsdale, Arizona. The Company began operations in 1998 to provide telecommunication services including data, voice and video to multiple dwelling units (MDU's) in tier-one and tier-two markets and later included wireless broadband services in rural markets. The Wytec technology is expected to have a substantial impact on the Company's broadband services throughout all communities of North America.
Forward-Looking Statements:
This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. Since forward-looking statements address future conditions, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
SOURCE Competitive Companies, Inc.
Competitive Companies, Inc.
CONTACT: Press /Analyst Contacts: Investor Relations, +1-888-284-4531, ir@cci-us.com
Web Site: http://www.cci-us.com