HENDERSON, Nev., May 16, 2019 /PRNewswire/ -- Grow Capital, Inc (OTCPK:GRWC) (GRWC) today announced that it has signed a letter of intent (LOI) to acquire Bombshell Technologies. A due diligence review is underway and a final determination regarding this acquisition is anticipated within weeks.
By the LOI's terms, GRWC will acquire 100 percent interest in Bombshell Technologies, a premier software development service provider with a focus on the financial services sector. Bombshell Technologies has operations in both Nevada and Louisiana.
"Almost half of fintech companies are partnering with innovation and research firms and over the next three to five years it's estimated that over 80 percent of insurers and wealth management firms will also partner with companies like Grow," said CEO Jonathan Bonnette. "This acquisition positions us perfectly for where we and the industry are headed."
Under the terms of the LOI, Grow Capital, Inc will tender shares of its stock for Bombshell Technologies and provide a broad network to help Bombshell gain clients for its suite of software that helps financial services firms manage their practice.
Bombshell's current software suite delivers customized back office compliance, sophisticated multi-pay commission processing, and revolutionized new client application submission system, along with digital engagement marketing services centric to financial services.
"Signing this LOI with Bombshell Technologies is another step forward for GRWC, as we seek to acquire niche companies with proven assets and significant growth potential which raises the value of Grow Capital," said chairman of GRWC James Olson. "It's a simple approach - we plan to grow shareholder capital through smart acquisitions and Bombshell Technologies is just the beginning."
Learn more about Bombshell Technologies suite of products: here: www.bombshelltechnologies.com
About Grow Capital Inc:
Grow Capital, Inc is a publicly traded company listed under the symbol GRWC. Formally Grow Condos, we have announced new leadership, rebranded, relocated our headquarters and have expanded into acquiring and developing the best professional technology and financial services companies.
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SOURCE Grow Capital Inc