Teleplus Consumer Services Incorporated Announces Letter of Intent to Acquire 100 Percent Ownership of Rooms.com
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--July 30, 2004--Teleplus Consumer Services Incorporated, a publicly traded corporation (Pink: TPCV) announced that the Company has entered into a letter of intent to acquire one hundred percent (100%) of the ownership interest of Rooms.com, Inc., a privately-held company. The transaction calls for Teleplus Consumer Services to issue its shares to the stockholders of Rooms.com, Inc., pending approval of the final terms of the agreement.
Under the agreement, Rooms.com Inc. will be merged into Teleplus Consumer Services Incorporated subject to the approval of the stockholders of Rooms.com Inc. Completion of the transaction is subject to the satisfaction of certain conditions including the execution of definitive agreements and the completion of due diligence. No assurance can be given that this acquisition will be consummated.
Rooms.com, Inc. is an online wholesale merchant offering travelers discounted lodging and hotel reservations through contracts and affiliations with more than 1,000 hotels. Rooms.com owns and operates more than 100 separate and unique reservation websites which include the names of major cities such as New York, Miami, Orlando, London, Paris, Rome, etc.
Statements contained in this press release are not based upon current or historical fact and are forward-looking in nature. Such forward-looking statements are subject to risk and uncertainties, which could cause actual results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks uncertainties and events that may be beyond the control of Teleplus Consumer Services Incorporated and no assurances can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of personnel, and changes in technology and competition.
Contacts
Rooms.com, Inc.
James Morrell, 954-332-1200
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