ProTek Capital, Inc. Advances Acquisition Strategy Anticipated to Add Approximately $10 Million in Annual Revenue
NEW YORK, May 10, 2011 /PRNewswire/ -- ProTek Capital, Inc. (Pinksheets:PRPM.pk - News) today is pleased to announce an update to the recently announced non-binding letter of intent (LOI) to acquire an operating company with approximately $1 million in annual revenue as part of an overall expanded and updated business strategy.
Senior ProTek management met last week with representatives of the majority shareholder of the first target acquisition expected to be the first in a series of acquisitions anticipated to rapidly bring approximately $10 million in annual revenue to ProTek. The majority shareholders of the first target acquisition also own additional operations located within the Caribbean and Gulf of Mexico region that are additionally expected to be acquired by ProTek. The first acquisition subject to final agreement is expected to be completed by the end of May.
The objective of ProTek is to provide the best possible risk-return value for all of its shareholders by making direct investments into or outright purchases of foreign and domestic private and public software companies. ProTek currently owns both non-operating interests and one operating interest in a software technology operation.
About ProTek Capital, Inc.
ProTek Capital, Inc. is a corporation with offices located in the United States and United Kingdom, whose focus is to invest in or acquire software companies that are privately held or traded on the public markets. The objective of ProTek Capital, Inc. is to provide the best possible risk-return value for all of its shareholders by making direct investments or outright purchases into foreign and domestic private and public software companies. To learn more about ProTek Capital, Inc., please visit: http://www.protekcapital.com/
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
ProTek Capital, Inc.
SOURCE ProTek Capital, Inc.
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