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Highland Business Services, Inc. (HGLB)- Announces Execution of Definitive Merger Agreement with Elevate Marketing Group, LLC
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Title: Highland Business Services, Inc. (HGLB)- Announces Execution of Definitive Merger Agreement with Elevate Marketing Group, LLC Date: 2/4/2011 Industry: Business Services Sector: Services
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EXHIBIT
99.1
Highland
Business Services, Inc. (HGLB)- Announces Execution of Definitive
Merger Agreement with Elevate Marketing Group, LLC.
San Clemente,
California – Highland Business Services, Inc.
(“Highland”), (OTCBB: HGLB) announced today that its
wholly owned subsidiary has executed a definitive Acquisition and
Plan of Merger Agreement (the “Merger Agreement”) with
Elevate Marketing Group, LLC, a Utah limited liability company
(“Elevate”). The closing of the Merger
Agreement, that is subject to conditions, including the prior
completion of certain pre-closing matters, is currently anticipated
to occur on or before February 14, 2011. Upon closing, Elevate and
its related business operations and assets, will continue as a
wholly owned subsidiary of Highland.
Elevate is a
premier digital services provider with an array of IP and wireless
residential services. Elevate Broadband offers wireless residential
Internet service with up to 10 mbps service. Elevate also offers a
fully integrated suite of home security products and services that
include Elevate Interactive, a complete home security management
system operated online or through a wireless mobile App. Elevate
Entertainment is both an IP based TV and Satellite TV service
offered in cooperation with DirecTV™ and DishNetwork™.
Elevate Mobile provides mobile services that offer the latest smart
phone technologies.
“Today’s announcement is yet another
in a long-line of recent developments which will enable us to
continue to develop and deliver world-class services to our
customers throughout the United States and around the world,”
said Wright W. Thurston, CEO of Elevate. Mr. Thurston continued
saying “the completion of the merger with Highland provides
Elevate with a