Posted On: 02/09/2015 10:42:41 AM
Post# of 72747
TLNUF Telecorp Announces Letter of Intent to Acquire Dev Datamedics & Software Company PR Newswire "Press Releases US - English"
BARRIE, Ontario , Feb. 9, 2015 /PRNewswire/ --Telecorp, Inc. (OTC Markets: TLNUF) (" Telecorp " or the "Company"
, is pleased to announce that the Company has signed a Letter of Intent (LOI), to acquire Dev Datamedics & Software Pvt Ltd ("Dev Datamedics", as a wholly owned subsidiary of Telecorp .
This LOI establishes Telecorp's intent to acquire a controlling position in Dev Datamedics, a modest development company, which employs roughly 7 full-time developers. Financially, the company is breaking even, however, it is the intention of Telecorp , that with their growing infrastructure, the company will turn profitable within 3 to 6 months after the completed acquisition. Based in Chandigarh, India ; Dev Datamedics has provided hundreds of customers with high- quality web and software development for over 15 years.
"As we've discussed, Telecorp is actively looking for quality acquisitions with established companies or even exciting startups," stated Paul Phillips , CEO of Telecorp, Inc. "Exploring our list of potential merger and/or acquisition targets, Dev Datamedics was one of the first companies we considered, as a synergetic and profitable endeavor for Telecorp . We look forward to working closely with this talented group of programmers, to not only enhance our products, but to grow Datamedics customer base, which will increase revenues to both our organizations."
BARRIE, Ontario , Feb. 9, 2015 /PRNewswire/ --Telecorp, Inc. (OTC Markets: TLNUF) (" Telecorp " or the "Company"
, is pleased to announce that the Company has signed a Letter of Intent (LOI), to acquire Dev Datamedics & Software Pvt Ltd ("Dev Datamedics", as a wholly owned subsidiary of Telecorp . This LOI establishes Telecorp's intent to acquire a controlling position in Dev Datamedics, a modest development company, which employs roughly 7 full-time developers. Financially, the company is breaking even, however, it is the intention of Telecorp , that with their growing infrastructure, the company will turn profitable within 3 to 6 months after the completed acquisition. Based in Chandigarh, India ; Dev Datamedics has provided hundreds of customers with high- quality web and software development for over 15 years.
"As we've discussed, Telecorp is actively looking for quality acquisitions with established companies or even exciting startups," stated Paul Phillips , CEO of Telecorp, Inc. "Exploring our list of potential merger and/or acquisition targets, Dev Datamedics was one of the first companies we considered, as a synergetic and profitable endeavor for Telecorp . We look forward to working closely with this talented group of programmers, to not only enhance our products, but to grow Datamedics customer base, which will increase revenues to both our organizations."
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