CornerWorld Acquires Communication Companies

Continuing to bolster their portfolio, CornerWorld Corporation (OTCBB: CWRL) has acquired Holland, Michigan based Woodland Holdings, Ltd.  The deal, which was first announced in October 2008 and was completed earlier this year, encompasses all holdings of Woodland including RANGER Wireless Solutions and its patented shortcode application 611 Roaming Service. 

RANGER Wireless Solutions®, founded in 1996, is a wireless application service provider supporting nearly 40 carriers in North America. Using its 611 Roaming Service application, RANGER Wireless Solutions ensures that wireless subscribers can reach their home provider’s customer service call center while roaming on another provider’s network.  611 Roaming Service generates revenue by processing over 14 million calls from roaming wireless customers per year and seamlessly transferring them to the correct provider.

“We are confident that mobile computing is the consumers bridge between real-world and online worlds,” said Scott Beck, CEO, CornerWorld. “We are thrilled to begin incorporating Woodland’s mobile platform and operational experience with nearly 40 wireless carriers in the United States, Canada and the Caribbean, to create next-generation offerings that will unite buyers and sellers by expanding the application of Woodlands cellular roaming patent.” 

The $12.2 million dollar acquisition also includes assets T2 (pronounced T-Squared) Communications, T2TV, Visitatel, and West Michigan Co-Location Services.  T2 Communications is a next-generation telecommunications and entertainment service provider that uses a portfolio of next-generation technology to deliver phone, television and internet products for homes and businesses.  Utilizing IPTV, Fiber to the Home, and other industry leading products, T2 Communications specializes in providing services on a local and national level.  T2 Communications also operates under a CLEC license.

Visitatel holds an FCC 214 license as a wholesale long distance service provider to the carrier community and large commercial users of transport minutes. West Michigan Co-Location Services is an equipment leasing company for telecommunications companies.

“Our carrier customers who provide more than 65 percent of U.S. consumers with mobile devices will continue to have the mission-critical roaming service they expect,” said Ned Timmer, COO Woodland Holdings. “We now have the resources to expand services that will benefit carriers and enhance the mobile computing investment for consumers.” 

CornerWorld was originally founded in 2003 as a social network platform that provided a way for users to earn revenue from photos, music and videos posted to the site.  In May 2007, CornerWorld officially changed its name to CornerWorld Corporation.  In August of that same year, CornerWorld became a publicly traded company through a share exchange agreement with Olympic Weddings International, Inc.

Since becoming a public company, CornerWorld has actively explored opportunities to expand its service catalog through acquisition.  CornerWorld attempted to purchase Sway, Inc., a social media marketing company, but the deal was cancelled in May 2008.  Since then, CornerWorld has completed the acquisition of Woodland Holdings as well as direct marketing services company Enversa Companies LLC.  Founded in 2004, Enversa is a family of online media properties and proprietary technologies that deliver measurable results for advertisers and agencies.  Their key asset is The Leadstream, which uses an interactive toolbox of Internet, Event, Mobile Phone and In-Person marketing methods to connect its clients with their target customers.

As a result of the recent acquisitions, CornerWorld has transitioned its cornerworld.com domain from a social networking site to the company’s corporate site. 

CornerWorld is now positioned as a marketing and technology services company that creates opportunities from the increased accessibility of content across mobile, television and internet platforms.  Its assets operate in three key verticals: direct marketing services, communication services and online media networks.