PRESS RELEASE OCT 28 2015 - Completion of Dev data
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Posted On: 10/28/2015 2:40:45 PM
PRESS RELEASE OCT 28 2015 - Completion of Dev datamedics aquisition
Telecorp Announces Completion of Acquisition
BARRIE, ON / ACCESSWIRE / October 28, 2015 / Telecorp, Inc. (OTC: TLNUF) ("Telecorp" or the "Company"
, a growing provider of software communications solutions, announced today that it has completed the previously announced acquisition of Dev Datamedics & Software Pvt Ltd ("Dev Datamedics" in a transaction valued at approximately $100,000. The execution of a proposal and acquisition agreement outlining the terms of the transaction was initially announced on March 2nd, 2015.
Headquartered in Chandigarh, India, Dev Datamedics is a web development, search engine marketing and web hosting company with positive cash flow and a regular stream of clients worldwide. The business offers a range of services such as Web Design, Web Development, E-Commerce Solutions, CMS Websites, Organic SEO, Google AdWords/PPC, Template Design, E-mail Template Design, Landing Page Design, Logo Design, Banner Design, SEO Web Design, WordPress Development, Joomla Development, Open Source Solutions, PHP Programming, ASP.net Programming, Mobile Apps for Android and iOS, Local SEO, E-mail Marketing, Social Media with Facebook, Google+, Twitter, Pinterest, Code Ignite, Magento, Blog Commenting, and PPC Pay Per Click.
"After a lengthy and detailed analysis and audit, Telecorp is pleased to acquire Dev Datamedics," said Paul Phillips, President and CEO of Telecorp Inc. "There have been a number of factors for the delay as the company has learned of other opportunities for acquisition and partnerships, this extra due diligence has benefitted Telecorp and its shareholders and Telecorp hopes to make further announcements very soon," he continued.
With this acquisition, approximately $20,000 to $40,000 in monthly revenues (in the New Year) is estimated to be reflected on Telecorp's income statement and, with the expected cash flow, the Company intends to clear off approximately $225,000 in debt off its balance sheet.
The changeover is expected to occur on November 1st, whereby Dev Datamedics will be completely integrated into Telecorp, and will complement the Company's existing CRM business. Dev Datamedics' present staff of 7 developers will remain in place in India and its current owner will stay on for a minimum of 120 days to assist with the business transition.
With the purchase transaction completed, the Company can now move forward with a pending sales contract with a client base of approximately 70,000 members. "This acquisition will give us the opportunity to operate a great business, with excellent margins. We look forward to announcing sales contracts which is currently in process that we can now close once Dev Datamedics is handed over November 1st," stated Paul Phillips.
The process of closing on certain sales contracts is moving toward a conclusion and Telecorp will continue to make announcements in due course.
Telecorp Announces Completion of Acquisition
BARRIE, ON / ACCESSWIRE / October 28, 2015 / Telecorp, Inc. (OTC: TLNUF) ("Telecorp" or the "Company"
, a growing provider of software communications solutions, announced today that it has completed the previously announced acquisition of Dev Datamedics & Software Pvt Ltd ("Dev Datamedics" in a transaction valued at approximately $100,000. The execution of a proposal and acquisition agreement outlining the terms of the transaction was initially announced on March 2nd, 2015. Headquartered in Chandigarh, India, Dev Datamedics is a web development, search engine marketing and web hosting company with positive cash flow and a regular stream of clients worldwide. The business offers a range of services such as Web Design, Web Development, E-Commerce Solutions, CMS Websites, Organic SEO, Google AdWords/PPC, Template Design, E-mail Template Design, Landing Page Design, Logo Design, Banner Design, SEO Web Design, WordPress Development, Joomla Development, Open Source Solutions, PHP Programming, ASP.net Programming, Mobile Apps for Android and iOS, Local SEO, E-mail Marketing, Social Media with Facebook, Google+, Twitter, Pinterest, Code Ignite, Magento, Blog Commenting, and PPC Pay Per Click.
"After a lengthy and detailed analysis and audit, Telecorp is pleased to acquire Dev Datamedics," said Paul Phillips, President and CEO of Telecorp Inc. "There have been a number of factors for the delay as the company has learned of other opportunities for acquisition and partnerships, this extra due diligence has benefitted Telecorp and its shareholders and Telecorp hopes to make further announcements very soon," he continued.
With this acquisition, approximately $20,000 to $40,000 in monthly revenues (in the New Year) is estimated to be reflected on Telecorp's income statement and, with the expected cash flow, the Company intends to clear off approximately $225,000 in debt off its balance sheet.
The changeover is expected to occur on November 1st, whereby Dev Datamedics will be completely integrated into Telecorp, and will complement the Company's existing CRM business. Dev Datamedics' present staff of 7 developers will remain in place in India and its current owner will stay on for a minimum of 120 days to assist with the business transition.
With the purchase transaction completed, the Company can now move forward with a pending sales contract with a client base of approximately 70,000 members. "This acquisition will give us the opportunity to operate a great business, with excellent margins. We look forward to announcing sales contracts which is currently in process that we can now close once Dev Datamedics is handed over November 1st," stated Paul Phillips.
The process of closing on certain sales contracts is moving toward a conclusion and Telecorp will continue to make announcements in due course.
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