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Sitestar
Purchases Netrover, Inc.
Company Gains Presence in Canada and Expands Customer
Base
01/09/06 |
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LYNCHBURG,
Va., Jan. 9, 2006 -- Sitestar Corporation (OTC BB:SYTE
- News), a provider of residential and business Internet
access and value-added computer services, today announced
that it has purchased Canadian-based Netrover, Inc.
Sitestar gains over 7,000 customers including dial-up
and Digital Subscriber Line (DSL) Internet subscribers,
web hosting and other business accounts.
The Netrover acquisition builds upon the company's business
strategy which focuses on aggressively growing the Sitestar
customer base across North America. Recent initiatives
have also included the purchase of residential Internet
subscribers from Idacomm and an expanded DSL coverage
area in the western part of the United States.
``The acquisition of Netrover bolsters both the financial
and business position of Sitestar,'' said Daniel A.
Judd, CFO for Sitestar. ``Netrover is profitable, strengthens
our balance sheet and increases our customer base and
presence in North America.''
``The Netrover purchase further expands the Sitestar
service footprint and opens Canada as a new market for
our services,'' said Frank R. Erhartic, Jr., CEO for
Sitestar. ``Sitestar is poised to continue its growth
in 2006 as we continue to increase customers, revenue
and shareholder value. We welcome Netrover's customers
and staff to Sitestar.'
'Sitestar plans to maintain a
physical presence in Canada using Netrover staff. The
integration of customers to Sitestar will be transparent
to existing subscribers. This transaction was consummated
effective January 1, 2006.
About Sitestar
Sitestar (http://www.sitestar.com) is an Internet and computer
solutions provider that offers narrow and broadband
Internet access, Web hosting and design, and other value-added
services. The company's customers include residential
and commercial accounts throughout the United States
and Canada. With a focus on competitive pricing, reliability,
service and speed, Sitestar delivers customer value.
Sitestar is headquartered in Lynchburg, Va. Its wholly
owned subsidiaries include Sitestar.net
(http://www.sitestar.net), netROVER,
Inc. (http://www.netrover.com), Prolynx
(http://www.prolynx.com), SurfWithUs.Net
(http://www.surfwithus.net), Lynchburg.net
(http://www.lynchburg.net), Advanced
Internet Services (http://www.advi.net), Computers
by Design (http://www.computersbydesign.com) and
CBD Toner Recharge
(http://www.recharge.net).
Forward-Looking Statements This
report contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Stockholders are cautioned
that all forward-looking statements involve risks and
uncertainty, including without limitation, our ability
to expand our customer base, make strategic acquisitions,
general market conditions, and competition and pricing.
Although we believe the assumptions underlying the forward-looking
statements contained herein are reasonable, any of the
assumptions could be inaccurate, and therefore, there
can be no assurance that the forward-looking statements
contained in the report will prove to be accurate
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