Hop-on Acquires Accessorizer

Hop-on acquires fast-growing wireless accessory company WirelessCompany.com; WirelessCompany.com president Dan Gannon named CEO of Hop-on

October 16, 2003

2 Min Read

IRVINE, Calif. -- Hop-on, Inc., the leading developer of disposable and fully recyclable cell phones, announced today that it has reached a definitive agreement to acquire one of the fastest growing wireless accessory companies, with a retail distribution network including Office Depot, Best Buy, Eckerd Drug Stores, Home Shopping Network and QVC, among others. The complementary acquisition provides Hop-on with innovative accessories to round out its product offerings, extensive product sourcing relationships, additional management expertise and positive cash flow.

Under the agreement, Hop-on will acquire WirelessCompany.com, Inc., a privately held wireless accessory company. WirelessCompany.com was ranked as one of the Hot 100, the fastest growing entrepreneurial businesses in America, by Entrepreneur Magazine and Dun & Bradstreet. As part of the transaction, Dan Gannon, President of WirelessCompany.com has been named Chief Executive Officer of Hop-on. With over 15 years of years of extensive experience in the software, data networking and wireless industries, Dan was recognized as one of Entrepreneur Magazine's leading CEO/Entrepreneurs.

Founded in 1999, WirelessCompany.com, Inc. designs, manufactures and markets a full line of innovative and attractively priced wireless accessories that are compatible with handsets produced by the leading manufacturers. These accessories include wireless hands-free (RF) headsets, car chargers with pivoting heads and retractable cords, jeweled headsets, OEM faceplates, flashing batteries, and carrying cases, among other products.

"This is an ideal acquisition for Hop-on from a business and strategic standpoint," said Samuel Demissie, President of Hop-on. "It is a cash positive business, with extensive retail, manufacturing and distribution relationships throughout the U.S. and China, which will assist Hop-on in launching its new disposable cell phone and other product offerings. In addition, the acquisition further expands our management team with the proven leadership necessary to execute on the opportunities in front of us."

Dan Gannon commented, "Hop-on has developed a great deal of brand awareness in the wireless handset market and has assembled a very talented group of executives. By combining WirelessCompany.com's accessory business and relationships with Hop-on's disposable cell phone model and research and development team, we will be able to accelerate our growth globally."

Hop-on Inc.

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