Gridline Buys Broadband Horizons

HOUSTON -- Gridline Communications Holdings, Inc., a fully reporting public corporation, announced today that the company has entered into a memorandum of understanding (MOU) to purchase all of the assets of Broadband Horizons, a Texas-based company that provides Broadband via Powerline (BPL) services, as well as offers consulting and engineering support for BPL systems.

Under the terms of this MOU, Gridline will merge the entire operation of Broadband Horizons into Gridline. Gridline will also enter into employment and/or consulting agreements with the key employees of Broadband Horizons. The pending acquisition should allow Gridline to dramatically expand its influence within the BPL community, create a host of new business opportunities and enable the company to offer highly specialized BPL-related engineering and consulting services to state and federal agencies, electric power companies and municipal-owned utilities.

"We are extremely pleased to be moving forward with the planned acquisition of Broadband Horizons. By integrating this company, along with its clients and critical industry expertise, Gridline is moving quickly to establish itself as a leading player in the burgeoning BPL industry. Governments around the world are pushing initiatives to bring broadband access to their citizens and BPL is a leading candidate to help achieve these goals. Industry growth is projected to stay in the triple digits for years to come. By assembling a complete end-to-end solution package that includes top notch services offerings, coupled with diverse content and the ability to engineer BPL systems of all sizes anywhere in the world, Gridline Communications is positioning itself to take a leading roll in this rapidly growing marketplace," declares Blaize Kaduru, CEO of Gridline Communications Holdings, Inc.

Gridline Communications Holdings Inc.