QuamTel, Inc. (OTCBB: QUMI) announced today that it has signed a letter of intent to acquire SavvyTel Communications PTY/LTD. The definitive agreement is expected to be signed in April 2011. Under the purchase agreement, QuamTel, Inc. will acquire 100% of the stock of SavvyTel Communications, Inc. in exchange for the issuance of 5.5 million common shares of QuamTel, Inc. SavvyTel will be a wholly owned subsidiary of QuamTel, Inc. “The combined strengths of our two companies will provide us with strategic reach internationally,” said QuamTel CEO, Stuart Ehrlich. “This acquisition provides us with a large subscriber base to market other synergistic QuamTel products to, such as global calling direct from the Australian subscriber handsets, by interconnecting the 'QAN', Quamtel Application Network, in the United States with the SavvyTel communications network in Australia.” "It is one thing to have the carrier grade network to support growth, but it is something else to have the engineering and development talent to help you grow and become an industry leader. Our team now consists of some of the industry’s best and most forward thinking minds,” said Krishan Deegalla, technical director at SavvyTel Communications. About QuamTel, Inc. www.QuamTel.com QuamTel, Inc. is an emerging global service provider of superior quality Voice Over IP based solutions offering residential and business customers more user friendly and affordable ways to communicate. QuamTel, Inc., through its subsidiaries, provides a comprehensive portfolio of M2M integrated data services and wireless broadband technologies with a focus on device management, infrastructure design and deployment, as well as engineering design, manufacturing and distribution of wireless broadband technology. About SavvyTel Communications: http://www.savvytel.com.au/ SavvyTel Communications was founded in 2005 and built its business on sound fundamentals and great products, offering customers convenient recharge options, no contracts, low rates, reliable service and number portability. SavvyTel operates on one of the largest and most reliable networks in Australia, The OPTUS Network.
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