April 25th, 2008

International mail and parcels company SkyPostal has gone public in the USA through a friendly reverse takeover deal and is now targeting strong growth and acquisitions in its core markets.

SkyPostal Inc. announced that it has been acquired by Omega United Inc. which will now cease its previous business activities and file to change its name to SkyPostal Networks, Inc. The transaction value was reported as $27.6 million by the CNN Money service which gave Omega United’s previous business as “online entertainment booking services”.

“Going public through this merger is the next step in our evolution, as SkyPostal strives to become the dominant mail distribution company in Latin America, the Caribbean and Mexico ('LAC'),” stated Albert P. Hernandez, President and CEO of Miami-based SkyPostal.

SkyPostal already acquired Spring Global Mail Latin America, the regional unit of the TNT, Royal Mail and Singapore Post-owned joint venture, in August 2007 for an undisclosed sum.

"We are now in a position to implement an aggressive growth strategy that features internal growth as well as growth through the acquisition of key postal delivery companies within the region. The highly fragmented postal delivery industry in the LAC region is ripe for consolidation and offers economies of scale related to cost reduction and the elimination of redundant services. The market is ideal for the application of current technologies, standardization of operating systems and the region-wide development of the SkyPostal brand,” he stated.

SkyPostal said it is one of the largest facilitators of mail delivery from Europe and the US into LAC, for major European postal administrations and the leading mail consolidators, delivering more than 150 tons of mail per month into the region. The company has exclusive agreements in place with over 20 major private postal services in 20 different countries throughout the LAC region for the delivery of commercial mail, periodicals and parcel post.

“SkyPostal is in a unique position through our existing relationships to acquire and roll up the quality private postal carriers in the region and apply our proprietary GPS-based delivery technology, PosTrac under development, which will provide auto proof of delivery for regular post to a region where it is estimated that up to 30% of all mail never gets delivered,” Hernandez added.

Source: SkyPostal, CNN Money