Telecorp Signs Purchase Agreement For Acquisition of Dev Datamedics
BARRIE, Ontario, April 14, 2015 /PRNewswire/ -- Telecorp, Inc. (OTC Markets: TLNUF) ("Telecorp" or the "Company"), a growing provider of software communications solutions, announced today that the Company has successfully executed the acquisition agreement for the purchase of Dev Datamedics & Software Pvt Ltd ("Dev Datamedics"). Dev Datamedics is a web design, web development and search engine marketing company with positive cash flow. Dev Datamedics has many global clients located in India, Australia, UK, Dubai, Canada and the United States and has been in business since 1999. They have generated steady annual sales growth since inception and will operate as a wholly-owned subsidiary of Telecorp, Inc., maintaining its office in Chandigarh, India.
On a monthly basis, Dev Datamedics is anticipated to initially generate approximately $20,000 to $40,000 in revenues. Sales from Dev Datamedics will be reflected in Telecorp's second quarter financials.
"The acquisition of Dev Datamedics is an essential part of Telecorp's aggressive growth strategy," stated Paul Phillips, CEO of Telecorp, Inc. "Our customers will benefit from the newly expanded global network, the increased portfolio of value-added services, the combined operational excellence and the consistent service quality worldwide. We are very much looking forward to welcoming the employees from Dev Datamedics and towards combining the strengths of both Telecorp and Dev Datamedics."
A final Bill of Sale is expected to occur within two weeks after an on-site due diligence visit is conducted by Paul Phillips next month. The acquisition will be completed with a combination of cash, stock, positions in Telecorp and delayed payments, valued at approximately $100,000 for complete ownership of Dev Datamedics. Telecorp will invest approximately $35,000 in capital, with first payment being made immediately upon completion of its due diligence visit and the final payment will be within 3 months of the ownership transfer. Telecorp has a number of major distributers ready to sell the Dev Datamedics high impact websites. The Company plans to announce partners with Sales and Distribution channels within 60 days.
About Dev Datamedics:
NeT4gains is an offshore web design, web development and search engine marketing company, providing valuable outsourcing services to clients worldwide. The Company has been in the industry for the last ten years, offering website design, web development, e-commerce solutions, CMS websites, search engine optimization (SEO), Google AdWords PPC campaigns and social media (Facebook pages, Twitter, Google+, LinkedIn profile) optimization services.
About Telecorp Inc.
Telecorp is an emerging provider of communication solutions to an array of companies and industries including, automotive, real estate, financial, health, charities, and many more. Telecorp offers creative software solutions for communicating with customers at levels never seen before. A total solution that is not only affordable, but indispensable for any business, no matter the size. Telecorp's modules allow the best marketing tools, first rate sales acquisition systems, customer communication processes, and drive greater profitability from every interaction, allowing every user to reduce costs and increase productivity at every use.
The Company's integrated suite of customized solutions includes, but is not limited to: customer acquisition, customer care, automated voice services, emergency communications, conferencing, data management, webinars, customer and hardware support tools, e-mail, fax and text broadcast messaging, direct to voice mail messaging, customized voice messaging, text to speech systems, predictive and progressive dialing, contact management solutions and much more.
Telecorp Inc. was incorporated in Canada in 2009.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.
SOURCE Telecorp, Inc.
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