FOLSOM, Calif., July 19, 2012 /PRNewswire/ -- Global Digital Solutions, Inc. (PINKSHEETS: GDSI), a leader in telecom engineering and consulting for telecom infrastructure services announced today that it has signed a conditional Letter of Intent (LOI) to acquire a Social Solutions Company located in North America.
The Company being acquired provides quantative and qualitative research for its North American clients. Global is currently working to complete the definitive agreement with the targeted acquisition company. Global expects to announce the definitive agreement within the next 30 days. "This new acquisition represents a unique opportunity to expand and grow in the social services sector," commented W.J. "Bill" Delgado, CEO of Global Digital Solutions.
The company is expected to be structured as an acquisition and is subject to an acceptable Definitive Agreement by both parties. The acquisition is EBITDA and Net Income positive and will be accretive to earnings, based on the past history of the company and is expected to close sometime at the end of the third quarter.
About Global Digital Solutions, Inc.:
Global Digital Solutions provides engineering and consulting services to Local Exchange Carriers, Long Haul Fiber Optic Carriers, Fortune 1000 companies as well as Federal, State, and Local governments. For more information please visit http://www.gdsi.co.
Statements about the company's expectations, including revenue and earnings and all other statements in this press release, other than historical facts, are "forward looking" statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward looking statements involve risks and uncertainties and are subject to change at any time. The company's actual results could differ materially from expected results. In reflecting subsequent events or circumstances, the company undertakes no obligation to update forward looking statements.
SOURCE Global Digital Solutions, Inc.