Yippy, Inc. (YIPI) to acquire Gigablast, Inc. and Web Research Properties, LLC to Expand Consumer Search, Enterprise, and eDiscovery Products
ALBUQUERQUE, N.M., June 26, 2013 /PRNewswire/ -- Yippy, Inc. (OTCQX: YIPI) (www.yippy.com) ("Yippy" or the "Company"), a unified search company known for its search clustering technology and eDiscovery tools, announced today that the Company has agreed to acquire Gigablast, Inc. ("Gigablast") and Web Research Properties, LLC ("WRP") through a letter of intent with binding provisions.
Matt Wells, Gigablast's Chief Executive Officer, commented on the proposed acquisition, saying, "Gigablast and its related properties can provide advanced technologies for consumer, eDiscovery, and enterprise big data customers. Gigabits, a related program, is the first operational enterprise class clustering program which I put into service in 2004. Yippy's Velocity platform was essentially based off of my original work which will allow Yippy to sell behind the firewall installations for all types of search based applications for enterprise and eDiscovery customers."
"This is the most important acquisition of technologies for our young company," stated Rich Granville, Yippy's Chief Executive Officer. He continued, "Yippy will be a significant presence in the business of search based applications with the combination of Velocity and Gigabits. One can possibly understand the potential for this proposed merger by conducting a consumer search on demo.yippy.com to find that Yippy and Gigablast have already begun to combine indexes which consist of billions of pages of data. Once we fully integrate the technology assets of Gigablast, WRP and MuseGlobal with Yippy, our sales processes can commence and we will be able to under-price the competition by what we believe to be significant margins."
About Yippy, Inc.
Based in Fort Myers, Florida, Yippy, Inc. is a technology company that specializes in the development of search, data normalization, and aggregation through application service environments for consumer and enterprise markets. Yippy's proprietary web-based product suites are deployed over cloud architecture and provide secure, redundant and maintained data services for businesses and education markets. The Company also operates several online web properties and educational reference portals. Yippy (YIPI) has been approved to trade on the OTCQX U.S., the intelligent marketplace for the best OTC companies with the highest financial standards and superior information availability. Investors can find current financial disclosure and Real Time Level 2 quotes for the Company on www.otcmarkets.com
About Gigablast, Inc.
Based in Albuquerque, NM, Gigablast, Inc., has been providing consumer and enterprise search solutions since 2000. Gigablast was founded by Mr. Matt Wells who received a BS in Computer Science and an MS in Mathematics from New Mexico Tech. The company operates out of a 13,000sft facility and manages hundreds of servers and billions of documents for both consumer and enterprise customers. For more information: www.gigablast.com
More information can be found at: www.Yippy.com
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SOURCE Yippy, Inc.; Gigablast, Inc.