Upco International Inc. (Upco or the company) announced that it has signed a binding Letter of Intent to purchase the assets of Spectrum Intelligence Communication Agency. Under the terms of the proposed agreement, SICA shareholders will gain an equity position in Upco. Juan Ramos, the current Chief Executive Officer of SICA, will be appointed as the new CEO of Upco Systems Inc., the Wholesale Telecom Division of Upco International Inc. Mr. Juan Ramos has been an Executive in the Telecom voice sector for almost 20 years and has a proven track record of success in the multi-billion-dollar Global Long-Distance telecom sector.