Daily Stock Setups

Viper Networks and Cirilum India Ink JV Deal

Posted on: Wed, 22 Apr 2009 00:26:00 EDT

Symbols: VPER

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Apr 21, 2009 (Close-Up Media via COMTEX) --
VPER | Quote | Chart | News | PowerRating -- Viper Networks announced that it signed a 5-year Joint Venture Agreement with Cirilum India for the exclusive franchise rights with Bharat Sanchar Nigam (a Government of India Enterprise) for pre-paid international calling cards for retail inbound international traffic.

The JV will target the Indian expatriate community and a floating population of Indian tourists outside India. This card will enable users to call from any landline, mobile, PC or any VoIP enabled device from countries where it is proposed to be launched in the world. The card will be available both in India and outside India.

Viper is partnering with Cirilum India to own and operate this license, offering a full spectrum of national and international telecom services, including: VoIP, Calling Cards and Pinless Accounts.

Cirilum has projected 2009 revenue of $50,000,000 and growing to over $150,000,000 for fiscal 2010. Viper will generate revenues through network operations and technical management fees, as well as an equity ownership stake.

Viper Networks Chief Executive Officer, Farid Shouekani, said, "We are pleased to be working closely with Cirilum - their record of success, outstanding reputation and expertise in telecommunications and deployment makes them an ideal partner. This long awaited approval and validation will inspire greater confidence among current and future customers.

"This is also a major development for our shareholders. As we continue to extend our reach from telecommunications into construction, energy and waste management businesses, this joint venture will add significant revenues to our existing telecommunications division. For the year ending December 31, 2008, our wholesale Voice over IP (VoIP) division, Viper International, LLC, located in Boston, MA, had gross revenues of approximately $8.1M and our retail VoIP division, located in Troy, MI, had gross revenues of almost $500,000."

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