NEW YORK, NY, Feb. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Byzen Digital Inc. (OTC PINK: BYZN), a technology mergers and acquisitions company, today entered into a binding letter of intent to acquire Fortune8 Technologies, a technology specialist which brings innovative Chinese products to the UK and European retail market.
The deal paves way for future Byzen Digital acquisitions to source technology hardware from China at a competitive price point, and opens access to the lucrative Asia-Europe consumer technology import market. The purchase is part of Byzen Digital’s intensive M&A campaign, which is expected to result in a minimum of one announced deal per financial quarter during 2019 and 2020.
Byzen Digital CCO Chris Percy commented, “We are very excited about the purchase of Fortune8 Technologies, our first acquisition under the Axiom Partnership. The addition of this company into Byzen Digital’s portfolio affords us a host of competitive advantages in dealing with the Chinese and Asian markets. Our discussions have already opened a wealth of valuable connections in Asia, and we believe that the importation of Chinese innovative technology to the UK and Europe will be a significant revenue generator for Byzen Digital.”
Fortune8 Technologies is one of several target companies undergoing due diligence by Byzen Digital and its strategic investment partner, The Axiom Partnership. The Axiom Partnership has pledged up to $10.0 million of financial support to Byzen Digital for the completion of acquisitions over the next two years. The Axiom Partnership is to offer commercial and strategic support with the purchase of Fortune8 as part of the two companies plans to develop a global portfolio of profitable emerging and disruptive technology companies.
About Byzen Digital Inc.
Byzen Digital is a high-growth organization focused on mergers and acquisitions in the technology space. Originally set up to service the growing blockchain sector, Byzen Digital’s scope has quickly grown beyond its initial focus to incorporate start-ups and SMEs from the wider technology arena including cyber security, data storage, cloud-tech, analytics, software and digital applications.
The Byzen family provides vital strategic insight, global funding access and a robust corporate structure to support its incorporated ventures in positioning concepts for global success.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. he company assumes no duty to update its forward-looking statements.
Contacts: Chris Percy President Byzen Digital INC chris.p@byzendigital.com Investors: Stephanie Prince PCG Advisory Group 646-762-4518 sprince@pcgadvisory.com
