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VOIP services

IElement Buys Texas Hometel

DALLAS -- IElement Corporation (OTCBB:IELM); (Frankfurt:SZQ1; IELM), a nationwide provider of advanced communications services and Voice over Internet Protocol (VoIP) solutions, announced today that it has entered into a letter of intent to purchase Texas Hometel, Inc. The two companies expect to enter a definitive merger agreement this month and have already begun integrating operations.

Texas Hometel is a privately held, profitable telephone service provider with revenues exceeding $1.1 million over the trailing 12 months. Its 2,000-plus customers significantly broaden both IElement's stable revenue base and the customer base into which IElement can sell its new products and services. IElement plans to sell VoIP, Managed Microsoft Exchange, offsite disaster recovery and Managed IT services to both its existing and newly acquired customers.

Negotiations between the two companies had been ongoing for several months, allowing both management teams to familiarize themselves with each other.

Texas Hometel's corporate office is in close proximity to IElement's own corporate headquarters in Dallas, Texas, and the company's entire management team has agreed to stay on board and continue providing their proven leadership and clear vision for the foreseeable future.

IElement Inc.

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