DALLAS, May 9, 2017 /PRNewswire/ --
Ciao Group, Inc. (USOTC: CIAU) today announced plans to accelerate the pending acquisition of telecommunications operational support system (OSS) company with an average annual revenue of $1.2 million. The Company announced the planned acquisition on April 20th. Ciao expects to finalize the acquisition by June 1st, 2017.
"The reason for accelerating the planned closing is because we have immediate opportunities to add additional customers," said Aubrey Brown, CEO of Ciao Group. "We have been traveling of late to frontier and emerging markets in South American, Africa and Southeast Asia. We have immediate opportunities to implement the target OSS solution with multiple mobile virtual network operators. We believe a timely acquisition of the target OSS solution could enable us to rapidly win new sales amounting to $1 million in annual revenue."
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh.
Learn more about Ciao Group / NuMelo Technology on the Company's website and check back frequently to keep up with the Company's progress to include the two acquisitions anticipated in the near future.
About NuMelo Technology, Inc:
NuMelo Technolgy is dedicated to discovering and developing innovative technology within the world's emerging and frontier markets. NuMelo brings the experience and resources to identify communication technology innovators within the worlds emerging and frontier markets and develop with them marketing and capitalization strategies to overcome the hurdles identified by the World Bank currently hindering the proliferation of emerging and frontier telecommunication services to achieve the corresponding alpha return potential.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Contact NuMelo Technology:
SOURCE Ciao Group, Inc.