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VPER Viper Networks To Conclude Due Diligence On Attractive LED Acquisition Candidate By Month End
Expected to announce closing date shortly thereafter.
TROY, Mich., Mar 12, 2012 (BUSINESS WIRE) -- --Merger would add millions in revenues and provide net profitability.
Viper Networks, Inc. (Pink Sheets: VPER), announces that the Company expects to conclude their preliminary due diligence on a U.S.-based, profitable LED company that they have been in acquisition talks with (as announced 1/30/12) by March 31st.
As previously announced, the Company has been proactive in their pursuit of well positioned, profitable LED industry acquisition candidates and has earnestly continued merger talks with two U.S.-based firms since early 2012; one of which specifically provides compelling synergy to Viper Networks' emerging business within the LED lighting sector.
Shortly after the conclusion of the Company's due diligence, Viper Networks will release a closing date projection (expected in mid-April) that they expect final negotiation terms and conditions to be consummated by.
Interested parties should note that these are amicable discussions propelled by strong mutual benefits and final acquisition terms are expected to include a combination of cash and stock.
In reviewing Company news during 2012, shareholders and investors will quickly see Viper has been busy establishing solid alliances within the LED industry along with key agreements designed to generate industry-leading margins and facilitate large scale growth initiatives in new global markets.
This major alliance with LEDs America has led to key agreements for Viper Networks in a North American sales and marketing agreement, global exporting arraignments, supplier status and manufacturing rights, and multiple foreign country territorial exclusivity agreements.
Another emerging alliance is Envirolite Corporation and their PowerDisc(TM) product that can extend the life of incandescent and halogen bulbs by up to 10 years. The Company's reseller agreement has already led to Viper Networks initial success (i.e.TBA) with targeting one mass merchant in North America for nationwide sales.
More details about the other potential acquisition, which is in the energy distribution sector, are expected shortly. For additional information, please visit www.vipernetworks.com.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance.
SOURCE: Viper Networks, Inc.
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