Acquisitions: Roomlinx Possibly Buying Canadian Comms
June 25, 2010 (FinancialWire) — Roomlinx, Inc. (OTCBB: RMLX) has signed a non-binding term sheet to acquire Canadian Communications of Superior, Colorado.
Canadian owns and manages two primary subsidiary companies: Cardinal Hospitality, a provider of new release pay-per-view movies to over 20,000 hotel rooms in North America and the Caribbean and Cardinal Broadband, a provider of free-to-guest TV programming, voice and broadband services to hotels, small businesses and multiple dwelling units (MDU).
The addition of Canadian's studio content agreements to Roomlinx' Interactive TV product expands Roomlinx' position as one of the most comprehensive entertainment providers in the hospitality segment offering an extensive library of new release titles and bundled content movie packages. Through their international presence on five continents, Canadian's hospitality division will allow Roomlinx to more rapidly expand outside of the U.S. and leverage Canadian's existing customer base to increase sales of the Roomlinx Interactive TV product.
Roomlinx is the hospitality in-room expert providing in-room Interactive TV products for hotels, resorts, and other properties, utilizing premium content and applications.
Canadian Communications is a provider of premium digital video on demand systems for the hospitality industry and voice, video, and data services for commercial and residential markets.
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