Lyfe
Communications, Inc. (OTCBB:LYFE), through its wholly owned subsidiary,
Connected Lyfe, a provider of next gen network services for the
first truly integrated
TV, high speed Internet and enhanced home phone services, today
announced the purchase of the data provisioning rights to Ygnition
Networks’ multi-family properties in Utah.
The acquisition
expands Connected Lyfe’s ultra high-speed
Internet services to ten multi-dwelling residential communities,
representing nearly 3,000 residential units and more than $2 million in
potential annual revenue through a combined offering of Broadcast
television, high-speed Internet and voice services. The agreement also
includes television access rights to two communities in Salt Lake City.
"Delivery of our network services to multi-family communities is central
to our growth strategy,” said Robert Bryson, president and CEO of
Connected Lyfe. "By focusing on communities across the Wasatch Front we
can deliver the level of service expected from a local company, and
optimize our operations prior to expanding our national footprint.”
As a provider of advanced, all IP (Internet Protocol) services,
Connected Lyfe is uniquely suited to deliver next gen TV, ultra
high-speed Internet and enhanced voice services to single-family homes,
multi-family residential communities, and businesses. The company is
creating new, customer-valued IP services for communities getting
high-speed Internet connectivity for the first time, as well as for the
growing segment that is "always on and connected” and wants information,
entertainment and communications on their terms – any content, on any
device, at any time.
Terms of the acquisition were part of the May 14, 2010 Purchase
Agreement with Ygnition as described in the LYFE Communications, Inc.
quarterly report ended March 31, 2010.
About Connected Lyfe
Connected Lyfe is developing, deploying and operating a converged
network services platform for the next generation of entertainment and
communications. For more information visit www.connectedlyfe.com.
About Ygnition Networks, Inc.
Ygnition is a leading provider of broadband services dedicated
exclusively to the multi-family industry. The company is based in
Seattle, Washington, serving communities in San Francisco, San Diego,
Seattle, Dallas, Houston, Salt Lake City and Phoenix. For more
information visit www.ygnition.com.
