Elysium Internet Signs Letter of Intent to Acquire Premium Geo-Based Domain Portfolio for $1.3 Million
Thursday January 10, 9:25 am ET
Target Portfolio of Over 900 Geo-Based Names Are 95% .coms
TAMPA, FL--(MARKET WIRE)--Jan 10, 2008 -- Elysium Internet, Inc. a profitable online media Company and wholly owned subsidiary of FTS Group, Inc. (OTC BB:FLIP.OB - News), today announced that it has signed a Letter of Intent to acquire a domain portfolio of over 900 geo-based premium mostly .com names. The deal is valued at $1.3 Million US.
Elysium Internet CEO Scott Gallagher commented, "Our shareholders are seeing the results of our months of work during the end of 2007 with several announcements this week. We've already closed an acquisition expanding our domain portfolio while adding to new technology platform to monetize our portfolio. Today's announcement takes our Internet operations even further by agreeing on the terms to acquire a leading geo-based domain portfolio that fits our model perfectly." Gallagher went on to say, "We estimate that once fully deployed, the target portfolio should generate $100,000 to $150,000 a month of high margin revenue for Elysium. We also have developed a plan to fund the deal without any further dilution of FTS Group shares. We have 30 days to get the deal done."
