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GuestTek International, Inc. Set to Expand Business Through an Aggressive Acquisition Strategy for 2010
LONDON, Dec. 28 /PRNewswire-FirstCall/ -- GuestTek International, Inc. (Pink Sheets: GESM) is pleased to announce that the Company is set to expand its business through an aggressive acquisition strategy for 2010. GuestTek International underwent a restructuring of the Corporation in order to increase profitability and bring its shareholders increased value. The Company sold its subsidiary GuestMetrics, Inc. along with its assets (GuestSnapshot and BarMetrics) to Shot Spirits Corporation (Pink Sheets: SSPT). GuestTek International has retained the right to market and sell GuestMetric's software products, for which GuestTek shall receive 25% of all net revenue generated from software sales. This move will bring increased value and profitability to both corporations.
GuestTek International Inc. completed the acquisition of Enable Software Ltd., an email management solutions company. Enable Software's mission is to enable client companies to achieve incremental revenue from their user base by deploying email security solutions in a low cap-ex business model. This acquisition brought around $100,000 in revenues to GuestTek in November of 2009, the full month after being acquired.
In 2010 the Company will implement an aggressive acquisition strategy that targets companies with synergistic technology that will enhance the Corporation's product offering, its customer base, its distribution channels and market penetration in order to increase the Corporation's revenue, profitability and assets. GuestTek International is currently conducting due diligence on several acquisition candidates and expects to acquire up to three companies in 2010.
"We are excited about the progress that GuestTek has made in 2009. We look forward to increasing our sales revenues as well as increasing our asset base with acquisitions in 2010," David Lovatt, President and CEO of GuestTek International.
For more details on GuestTek Internationals accomplishments in 2009 and expectations for 2010 please visit: www.guesttek-inc.com
About GuestTek International:
GuestTek International specializes in cloud based technologies that use the Internet to deliver business critical applications via a global network of partners. GuestTek International plans to grow via strategic acquisition over the coming 12 months as well as strong sales through its subsidiary, Enable Software Ltd.
Enable Software Ltd., a European based email management software solutions company, works exclusively with IT Service Providers to furnish them with the very latest in email management solutions for the modern market place. Their solution covers everything from Archiving, Anti-Spam, Disaster Recovery and Business Continuity.
For more information, please visit www.guesttek-inc.com
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
SOURCE GuestTek International, Inc.
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