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Paivis, Corp. Executes Definitive Agreement to Acquire AAAA Media
Services, Ltd., a Leading Distributor of T-Mobile, AT&T and
Boost Prepaid Wireless Cards
Acquisition Will Add Approximately $36,000,000 in Revenue to
Paivis, Corp. and Increase Lines of Business
ATLANTA,
GA--(Marketwire - October 05, 2007) - Paivis, Corp. ("PAIVIS"
or the "Company") (OTCBB: PAVC ) is pleased to announce
that it has signed a definitive agreement to acquire 100% of
the current assets of AAAA Media Services, Ltd., a
Georgia-based company ("A4"), that generates approximately
$36,000,000 (unaudited) in revenue.
A4
is one of the leading distributors of T-Mobile, AT&T and
Boost Mobile prepaid wireless products. A4 distributes these
products amongst others through their master dealer agreements
to over 7,000 locations in the continental United
States.
The
closing date for this acquisition is planned for November 15,
2007. The closing of the acquisition is subject to completion
of a financial audit and other conditions. Paivis has also
agreed to provide working capital financing as part of the
transaction. For more specifics on the terms and conditions of
the acquisition see the Definitive Agreement which will be
filed with the Securities and Exchange Commission within the
required timeframe.
Commenting
on the completion of the definitive agreement, Edwin Kwong,
Paivis, Corp. Interim Chief Executive Officer, said, "We are
very excited with the signing of this definitive agreement.
This acquisition will boost our revenues tremendously and
provides a natural extension to our current business model
with the introduction of prepaid cellular products. We are
glad to be able
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