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Systems America Signed Binding Terms to Acquire Leading Content and Platform Provider for Mobile Commerce
SAN RAMON, Calif., Sept. 6, 2011 /PRNewswire/ -- Systems America, Inc. (OTC: SYAI), a premier provider of cloud computing and information technology solutions, announced today that it has agreed on terms to acquire a European leader (the "Company") in direct to consumer mobile Internet content and services. It is anticipated that this company will become an independent wholly owned mobile subsidiary of Systems America.
Systems America has agreed to acquire the Company in a combination of its common stock, warrant coverage and the issuance of debt. After the consummation of the transaction, the Company would have a combined distribution and reach in excess of 1.2 billion mobile devices. For 2011, the Company's annual combined revenues are expected to be in excess of $18 million with EBITDA of approximately $1.5 million.
"The acquisition of the Company allows us to increase almost tenfold our monthly revenue while gaining the scale and profitability to be a worldwide force in the expansive mobile content arena," said Adesh Tyagi, CEO of Systems America. Adesh Tyagi further added, "Mobile is the first of several digital media businesses that Systems America plans to build. We are excited about the opportunity to accelerate our revenue growth by taking our proven products and mobile marketing capabilities into global markets including the United States, Europe, Latin America and Asia."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company headquartered in San Ramon, California, United States. For additional information about Systems America, please visit http://www.systemsamerica.com.
Forward-Looking Statements Disclosure
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.
Systems America, Inc.
CONTACT: Jan Schieberl, Corporate Communications, +1-925-226-2460
Web Site: http://www.systemsamerica.com
Systems America Signed Binding Terms to Acquire Leading Content and Platform Provider for Mobile Commerce
SAN RAMON, Calif., Sept. 6, 2011 /PRNewswire/ -- Systems America, Inc. (OTC: SYAI), a premier provider of cloud computing and information technology solutions, announced today that it has agreed on terms to acquire a European leader (the "Company") in direct to consumer mobile Internet content and services. It is anticipated that this company will become an independent wholly owned mobile subsidiary of Systems America.
Systems America has agreed to acquire the Company in a combination of its common stock, warrant coverage and the issuance of debt. After the consummation of the transaction, the Company would have a combined distribution and reach in excess of 1.2 billion mobile devices. For 2011, the Company's annual combined revenues are expected to be in excess of $18 million with EBITDA of approximately $1.5 million.
"The acquisition of the Company allows us to increase almost tenfold our monthly revenue while gaining the scale and profitability to be a worldwide force in the expansive mobile content arena," said Adesh Tyagi, CEO of Systems America. Adesh Tyagi further added, "Mobile is the first of several digital media businesses that Systems America plans to build. We are excited about the opportunity to accelerate our revenue growth by taking our proven products and mobile marketing capabilities into global markets including the United States, Europe, Latin America and Asia."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company headquartered in San Ramon, California, United States. For additional information about Systems America, please visit http://www.systemsamerica.com.
Forward-Looking Statements Disclosure
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.
Systems America, Inc.
CONTACT: Jan Schieberl, Corporate Communications, +1-925-226-2460
Web Site: http://www.systemsamerica.com