TAMPA, Fla., April 21, 2011 /PRNewswire/ -- Savtira Corporation, a new provider of B2B Cloud Commerce solutions, is proud to announce they have entered into an agreement with Source Capital Group, Inc.
Source Capital Group (SCG) has been retained by Savtira Corporation (Savtira) as a financial advisor. SCG's Investment Banking division raises capital for high-growth small cap companies in industries including e-commerce. SCG will also assist and negotiate on Savtira's behalf for potential Merger & Acquisition opportunities.
"Source Capital has deep industry knowledge in our space. They understand the value of our Cloud Commerce technologies and our potential to capture a meaningful share of the growing $428 billion worldwide digital e-commerce market. We are pleased to work with them and look forward to deploying growth capital which will enhance our competitiveness in the market," said Timothy Roberts, CEO of Savtira.
"Savtira plays in the sweet spot of cloud streaming technology, digital media and e-commerce. Mr. Roberts and his team have an extensive background in these industries and have developed a compelling plan to create an innovative cloud streaming platform for e-commerce businesses. We are excited to bring the merits of their vision to investors in an effort to ensure the success of this worthy project, which we anticipate will evolve the e-commerce and digital download markets towards a Web 3.0 paradigm," said Vik Grover, CFA, Senior Managing Director of Source Capital Group, Inc.
Vik Grover joined Source Capital Group in 2006 to focus on telecom and digital media investment banking. Prior to joining the firm, Mr. Grover worked as managing director of the Communications Practice of Merriman Curhan Ford & Co., a specialty small-cap focused boutique firm. Before working as an investment banker, Mr. Grover was with Thomas Weisel Partners and Needham & Co. as a senior research analyst covering communications services, including international long-distance carriers, competitive local exchange carriers (CLECs), Internet service providers (ISPs), voice over Internet protocol (VoIP) and Internet infrastructure.
Mr. Grover's other Wall Street experience includes positions as director of research at Kaufman Bros., a boutique technology and communications investment bank. He also worked in the research department of Sterne, Agee & Leach, in the institutional sales group of SunTrust Robinson Humphrey, and as a buy-side analyst for a technology-oriented hedge fund.
Mr. Grover conducted his undergraduate studies at the University of California in San Diego, received a master's degree in finance from the Georgia Institute of Technology, and is a Chartered Financial Analyst (CFA).
About Source Capital Group
Source Capital Group, Inc. was founded in 1992 by a management team with extensive financial industry experience at firms such as Bankers Trust, Chemical Bank, and Smith Barney. Source Capital began as a boutique investment banking firm specializing in small to medium-sized transactions, and the firm continues to focus its investment banking activities in those segments of the market. Source Capital has grown to include businesses in general securities, emerging market securities, distressed and high yield debt securities, investment management, mortgages, and business lending. For more information about Source Capital Group please visit www.sourcegrp.com.
About Savtira Corporation
Based in Tampa, Florida, Savtira is in the business of Digital Distribution with a Software-As-A-Service (SaaS) e-commerce platform that is a turnkey system for the distribution, marketing, merchandising, and selling of both digital media and physical goods in a single store and a single, unified shopping cart. Savtira's solutions make it possible for businesses to distribute digital goods directly from a custom-tailored eStore, as well as the option to include physical goods. Savtira is also building the next Carrier-Class "Entertainment Distribution Network" (EDN) to stream all digital media from the cloud with a feature set that eclipses anything on the market. For more information on Savtira, visit: www.savtira.com. Follow us on Twitter at: http://twitter.com/savtira.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release.
SOURCE Savtira Corporation