RedWire Acquires IntelliSpace Assets

SAN DIEGO -- RedWire Broadband, Southern California's premier in-building broadband service provider, has purchased substantially all of the assets of IntelliSpace Southern California, Inc. Included in the purchase were customer service agreements, building access contracts and equipment comprising most of IntelliSpace's Southern California operations. The consideration was paid in the form of Cash (83%) and RedWire Common stock (17%) and funding was provided by available cash on hand from the Company's most recent equity offering. The two Companies are cooperating strategically to ensure seamless customer transition onto the RedWire network during the next 60 days. The IntelliSpace operations include many Class A office building deployments and a significant number of sophisticated users requiring higher committed information rates, VPNs, and firewalls, etc. Integration of the assets will further augment RedWire's dominant position in Los Angeles, Orange and San Diego Counties which now encompasses over 300 'Lit' buildings and approximately 1,000 broadband subscribers. "This in-market acquisition allows us to leverage and scale our existing technical and human resources and puts us in a strong positive cash flow position to pursue other acquisition opportunities while we continue to rapidly develop our wireless infrastructure," said RedWire CEO, Edward Romanov. "We are especially pleased with the level of professionalism demonstrated by the IntelliSpace staff in their commitment to maintain network reliability and customer support during the transition." RedWire Broadband IntelliSpace