Telecorp's new leadership team continues to make bold and aggressive steps in fulfilling the new vision previously presented to the shareholders. This acquisition aligns with the three core principles of i) acquiring bold and established digital companies, which are, ii) built upon innovative technology and iii) can be scaled both quickly and profitably.
Mr. Cataldo, the President and CEO of Telecorp, stated, "We are very pleased with the acquisition of SOFTSMART 2.0 into the Telecorp family. This acquisition allows us to expand and deepen our footprint in the digital marketplace while quickly integrating and leveraging key functionality of the SOFTSMART 2.0 services within our current Telecorp product offerings. SOFTSMART 2.0 is a vital piece in helping Telecorp to become a major player in the digital economy."
SOFTSMART 2.0 brings together a management team with extensive experience and expertise in digital product development, tech consulting and social analytics and possess the ability to expand into industries such as healthcare, media, finance, entertainment, luxury brand & travel.
"I am excited to witness the next phase of our growth as a part of Telecorp," said Joseph Cohen, President of SoftSmart 2.0. "Our focus is to continue to grow and to develop the core technology that will power new solutions for Telecorp."
The SOFTSMART 2.0 team will become a part of the Digital Marketing and Solutions Division of Telecorp and remain headquartered in Los Angeles, California. SOFTSMART 2.0 currently has offices in Los Angeles, California, Israel, India, and South America. This expansion of the Telecorp Digital Marketing and Solutions Division allows for new market penetration into the rapidly expanding markets of India and South America.
Details about the acquisition have not been revealed at this time. Further financial records will be shared in conjunction with Telecorp's next financial filings. For more information on Telecorp, please visit our website.
The Board thanks the Company's shareholders for their continual patience and trust as they implement the strategies and vision to provide better value for its stockholders. The Board stands fully behind the new leadership team as they continue to implement the vision of creating a robust and profitable Company.
About Telecorp Inc.
Telecorp, Inc. is a North American emerging technology company headquartered in New York, New York, with operations in over six countries. The company was formally incorporated on April 13, 2009 in the Province of Ontario, Canada.
Telecorp has developed an expansive and diverse network of companies that have a large portfolio of software products and services, providing high level solutions and branding for businesses worldwide. These solutions and services include branding awareness campaigns, website design and development, complete video recording and production, cloud solutions and software-as-a-service (SaaS), electronic message delivery and integrations, data storage, analytics and data recovery.
In early 2016, under new management, Telecorp shifted its business focus and strategy to begin pursuing acquisitions in higher-value, digital technologies in proven markets. As a part of this business transition, the Company initiated a strategy to acquire and develop a variety of businesses to broaden services, products and talent into the Company.
Companies that will be considered for acquisition are required to have 3 main qualities: they must be progressive and established in the digital marketplace, they are built upon innovative or disruptive technology and, they also must be able to scale both quickly and profitably.
Telecorp's planned offerings are in the categories of digital video and animation production, e-health communications, media entertainment, e-travel services, hi-tech manufacturing, mobile-optimized product solutions, technology consulting and social analytics, data and design including CRM and ERP implementation and customization, e-magazine editorials and campaigns, and end-to-end solutions for hard asset portfolio management, among others.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.
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SOURCE Telecorp, Inc.