TMCnet News
Telecorp Signs Purchase Agreement For Acquisition of Dev DatamedicsBARRIE, 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 ash, 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: About Telecorp Inc. 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 To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/telecorp-signs-purchase-agreement-for-acquisition-of-dev-datamedics-300065300.html SOURCE Telecorp, Inc. |