ERF Acquires NetYeti

ERF has entered into a definitive agreement to acquire the assets of NetYeti

October 5, 2006

2 Min Read

LEAGUE CITY, Texas -- ERF Wireless (OTC Bulletin Board: ERFW), a leading provider of enterprise-class wireless broadband products and services, announced today that it has entered into a definitive agreement to acquire the assets of NetYeti, Inc., (dba, a wireless broadband division of PCCare Incorporated based in Lake Jackson, Texas. The acquisition will include all of the current customer base and Motorola Canopy wireless broadband equipment comprising the extensive network that provides access to a strategic high-growth geographic market area adjacent to Houston, Texas, covering approximately 1,500 square miles. The structure of the transaction includes an initial payment in ERFW restricted stock and an earnout based on incremental revenue growth through calendar year 2008 within a specified market service area. The transaction is scheduled to close on Oct. 16, 2006.

R. Greg Smith, CEO of ERF Wireless, commented, "We plan to integrate into our ERF Wireless Bundled Services Inc. subsidiary and pursue capturing additional market share in the strategically located market service territory currently served by The location of the service area on the southwest border of Houston compliments our already growing Central Texas network that will now cover over 3,000 square miles from Cameron, Texas, west to the Highway 290 corridor southeast of Austin, down Highway 290 to Houston, and then south all the way to Lake Jackson on the Texas Gulf Coast." Smith added, "We believe that has built a first-class network utilizing Motorola Canopy wireless broadband equipment and has achieved a solid reputation with its existing customer base of approximately 300 customers. With the strength of the ERF Wireless public company and our operations and support teams behind the foundation built by, coupled with an underserved geographic territory, we believe that we can achieve market share increases with both commercial and residential customers that should positively respond to the advantages of secure wireless broadband communications and other services."

David Davenport, a co-founder and co-owner of, commented, "We are likewise excited about the acquisition and are looking forward to taking advantage of the growth potential that we believe ERF Wireless can bring to our existing market service area." Davenport added, "As a small company, our growth has been limited only by our ability to finance our development and we are excited about the growth prospects and leverage that we plan to achieve following this transaction with ERF Wireless."

ERF Wireless Inc.

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