iB3 Networks, Inc. Signs LOI to Acquire MadisonAvenueMatch.com
Tuesday November 18, 8:30 am ET
CANAL WINCHESTER, Ohio, Nov. 18 /PRNewswire-FirstCall/ -- iB3 Networks, Inc. (OTC Bulletin Board: IBNW - News) and its wholly owned subsidiary iBeam Solutions, a Microsoft Gold Certified Partner and a Cisco Certified Select Partner, announced today that it has signed a Letter of Intent to purchase NYC Mags, Inc. the owner of MadisonAvenueMatch.com, for an all stock deal.
In addition to the purchase of MadisonAvenuematch.com, Michael Jacobson, President of NYC Mags, Inc. he will be appointed President of MadisonAvenueMatch.com by iB3 Networks, Inc.
MadisonAvenueMatch.com, a development stage website expected to launch in first quarter of 2009, is an upscale online dating web based service focused on New York City men and woman, with busy careers, looking for someone special in their lives. This site is expected to attract immediate membership by offering a complimentary 30-day trial, and access to private mixer events, MadisonAvenueMatch.com will offer its new members the ability to upgrade with a vast array of membership options, ranging from $39.99 to $99.99.
"iB3 Networks is a fantastic company with a pre-existing Internet infrastructure, designed to be a perfect match for MadisonAvenueMatch.com and its future," said Michael Jacobson, President of NYC Mags, Inc.
"The online dating business is a multi-billion dollar industry, with plenty of room for growth, for new niche sites. MadisonAvenueMatch.com will be iB3's ticket into the game," stated Eric Schmidt, CEO of iB3 Networks, Inc.
About iB3 Networks, Inc. (OTCBB: IBNW - News)
iB3 Networks, Inc. (OTCBB: IBNW - News) and its wholly owned subsidiary iBeam Solutions, is a Microsoft Gold Certified Partner with a proven track record of delivering scalable hosting solutions, managed hosting, dedicated hosting and Co-location, world-class IT infrastructure, 100% uptime SLA and 24x7x365 First Call Support, virtual help desk, managed services, design and implementation of networks, security and Internet monitoring, technical support, web development, application development, database development and support, wireless solutions, Internet businesses, and is a Cisco Certified Select Partner..
For more information please visit their web site at www.iB3Networks.com
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Source: iB3 Networks, Inc.
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