LOS ANGELES, Oct. 29, 2014 (GLOBE NEWSWIRE) -- GAWK Inc. (OTC:GAWK) announced today it has signed a Letter of Intent (LOI) to acquire WebRunners, Inc., Irvine, CA-based data center, launching GAWK's plan to create revenue by acquiring data centers to offload the vast amounts of data produced by the major wireless cell phone companies.
Scott Kettle, CEO of GAWK, Inc., said, "This is the first of many data centers in the United States GAWK will acquire. Consumers around the world, even if they don't have TV, have cell phones. The huge growth in data produced by wireless phones means that the giant Telco's like AT&T, Verizon, Sprint and T-Mobile are running out of room for storage. GAWK believes it has a solution by becoming the largest national offloading site for cell phone data. GAWK is a new way to capitalize on the explosive growth in cell phone use."
Henry Clarke, CEO of WebRunners, Inc., commented, "We are delighted to be in business with Scott Kettle and GAWK. We have worked with each other for many years, and GAWK's business plan has great merit."
Kettle, having interacted with engineers and executives at the major Telco's over 25 years in the telecommunications business, maintains high level contacts within the industry, which he will utilize in negotiating contracts for offloading data.
About GAWK, Inc.
Gawk Incorporated is a world innovator of self-service global digital distribution. Designed to meet the needs of modern consumers, Gawk has the unique and defining capability to stream all forms of digital media, including but not limited to, movies, documentaries, TV shows, music videos, vlogs, digital books, digital shorts, social networking videos and video game entertainment. The Pay per Gawk model offers a simplistic and economical transaction experience with each purchase. No subscription fees, no hidden costs. Gawk provides an innovative platform and interactive social network for artists to capitalize on their creativity through the Gawk self-service model of Post, Price and Promote. Gawk's multifaceted strategic approach generates ongoing and long-term revenue opportunities through independent content publishing, creative entertainment viewing, product integration, sponsorship and advertising.
WebRunners is an Orange County-based Internet service provider located in the Irvine Spectrum Center, specializing in virtualization, high-availability hosting, storage and professional IT services. Founded in 1998 and incorporated in 2013, WebRunners has grown steadily by building high-availability hosting environments for data centers and local businesses. As an expert in content delivery and redundancy enabled through cloud technology, WebRunners is at the forefront of the virtualization paradigm. The company is positioned to leverage its expertise and facilities to reach new heights in data center capacity, efficiency and profitability as a successful early adopter of virtualization, high-availability storage and related security solutions in the data center.
All statements in this release that are not strictly historical facts are "forward-looking statements." Such forward-looking statements are based on GAWK's current assumptions, beliefs and expectations, and involve risks, uncertainties and other factors that may cause GAWK's actual results to be materially different from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words such as "expect," "plan," "possibility," "offer," "if," "negotiate," "when," "believe," "will," "estimate," "continue," and similar expressions. Risks, uncertainties, and other factors that could cause or contribute to such differences include, but are not limited to: ongoing and future intellectual property enforcement actions; the ability to successfully litigate or settle claims of patent infringement; GAWK's ability to obtain necessary financing, generate sufficient cash flow, and maintain appropriate indebtedness; and the increasing development of market competition in the area of telecommunications. These factors and others are described in more detail in GAWK's public filings with the Securities and Exchange Commission, including the risks discussed in the "Risk Factors" section in GAWK's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of these reports can be found on GAWK's website (http://gawkinc.com) under the heading "Investor Relations." GAWK is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
CONTACT: Michael Selsman Public Communications Co. (310) 553-5732 firstname.lastname@example.orgSource:Gawk Inc.