Pervasip Signs Letter of Intent to Acquire Infiniti Systems Group

Unaudited Sales of Infiniti Exceed $3 Million Annually

WHITE PLAINS, N.Y.--(BUSINESS WIRE)-- Pervasip Corp. (OTCBB: PVSP), a provider of wholesale Voice over Internet Protocol (VoIP) and smartphone applications, has signed a letter of intent to acquire Infiniti Systems Group, an information technology services firm. Infiniti is an award winning company that focuses on providing businesses with information security, managed services, custom software applications and IT staffing.

Pervasip’s Chief Executive Officer, Paul Riss, noted, “Infiniti has been providing IT solutions to corporate clients since 1994 and boasts a 90% client retention rate. We are very excited about Infiniti’s services and customer base and we anticipate that its seasoned and talented sales and IT personnel can increase our revenues and write commercial mobile applications. Infiniti has already been working with us and has introduced our VoIP services to its largest customer. Infiniti is profitable, generates positive cash flow and has annual revenues in excess of $3 million.”

“Pervasip is well positioned to capitalize on the mobile Internet revolution and I am eager to become part of the Pervasip organization,” said John Bianco, President of Infiniti. “The mobile VoIP apps developed by Pervasip are extraordinary and I believe the company has a significant advantage over many of its competitors. By combining our resources, I believe both companies will benefit.”

The letter of intent signed by Pervasip and Infiniti contain both binding and non-binding provisions. The parties are working to complete a definitive purchase agreement, and the closing is subject to various conditions, including the completion of an audit by an independent registered public accounting firm.

About Pervasip

Pervasip Corp., through its wholly owned subsidiary, VoX Communications, delivers wholesale VoIP telephone services for the residential and small business markets. Leveraging a nationwide VoIP network and internally developed proprietary software and product features, VoX offers a private-label digital voice program sold to cable operators, cell phone carriers, WiMax carriers, CLECs, ISPs and resellers. VoX recently entered the mobile VoIP services and applications arena, which is expected to approach 300 million users by 2013. It offers a feature-rich, low-cost, high-quality alternative to traditional phone services. For more information, please visit www.voxcorp.net.

About Infiniti

Infiniti Systems Group (ISG) is an Ohio, SBE corporation established in 1994 that provides a wide variety of IT consulting, project and security services. Infiniti was recognized nationally by Inc Magazine’s highly-coveted “Inc 500” as one of the nation's fastest-growing private companies and several times by Ohio’s “Weatherhead 100” for similar accomplishments in that region. ISG is a registered Federal Government contractor, a Microsoft Gold Certified Partner, a McAfee Security Alliance Elite Partner, and is a preferred channel partner for a number of other nationally recognized IT and security vendors. For more information, please visit www.infinitisystems.com

Forward-looking statements: This release contains forward-looking statements that involve risks and uncertainties. Pervasip’s actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, certain risks and uncertainties over which the company may have no control. For further discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see the discussions contained in Pervasip’s Annual Report on Form 10-K for the year ended November 30, 2009 and any subsequent SEC filings.

CONTACT:

Investor Relations:
Brian Holden, 913-226-3818
brianholden77@hotmail.com
or
At Pervasip:
Paul H. Riss, 212-404-7633
Chief Executive Officer
phriss@pervasip.com

KEYWORDS:   United States  North America  New York

INDUSTRY KEYWORDS:   Technology  Networks  Software  Telecommunications  Other Technology  Security  Mobile/Wireless  VoIP

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