NEW YORK, December 23, 2015 /PRNewswire/ --
SPO Global Inc. (SPOM) today announced that it has entered into a definitive agreement to acquire 93.94% of Reflective Solutions Ltd., a UK private company via a Share Exchange Agreement.
Reflective Solutions is a leading software developer in the enterprise application performance and monitoring market that provides mission critical application software for large client corporations both in the public and private sector. The software products available from Reflective, increase productivity through performance testing and analysis along with 24/7 monitoring of new technologies on existing client service platforms. Reflective Solutions currently has offices in London, Boston and Sofia that support a growing base of substantial enterprise customers in North America, Canada, Europe, Asia and Australia.
With the acquisition of Reflective, the Company intends to shift its primary focus to those of its new subsidiary's business operations. Subsequent to the agreement with Reflective Solutions, SPO Global Inc. intends to apply to FINRA to change its corporate name to Reflective Solutions, Inc. and its stock symbol to better reflect the nature of its products and current business focus.
SPO Global today also announced the appointment of Owen Dukes to the Company Board of Directors. Concurrent with this transaction, Mr. Michael Braunold has resigned as CEO and President of SPO Global and the Company has also appointed Mr. Owen Dukes as the new CEO and President. Mr. Dukes has over twenty years of extensive industry experience and is a successful serial entrepreneur in the software development field.
Commenting on this transaction, Mr. Dukes said, "I am delighted to be asked to join the SPO Board and to become the Company's CEO and President. The enterprise application performance and monitoring software field in becoming a fast growing market space. I look forward to an exciting year ahead as our software products help continue to build a successful Company while increasing shareholder value going forward."
For more information on Reflective Solutions visit: http://www.reflective.com.
About Reflective Solutions
Reflective Solutions is a leading developer that specializes in mission critical application software for large client corporations in the public and private sector offering services that increase productivity through performance testing and analysis and 24/7 monitoring of new technologies on existing service platforms specifically to improve the performance and quality of enterprise applications. Reflective has offices in London, Boston and Sofia and currently has a growing base of substantial enterprise customers in North America, Canada, Europe, Asia and Australia.
Forward Looking Statements:
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, expectations regarding the successful expansion of our product base, profitability, market acceptance of our products and new product applications, timing of new product launches, product performance, size of prospective markets, marketing strategies, success of our restructured operations and plans, our ability to generate fees or raise capital to support our business operations and plan, the sufficiency and availability of working capital, changes in economic conditions generally and in more specifically, the introduction of competing products, changes in our operating strategy or development plans, patent protection for our products and technologies, changes in economic conditions generally and in more specifically, in the markets we operate, changes in technology, legislative or regulatory changes that affect us. We undertake no obligation to revise or update any forward-looking statement for any reason.
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SOURCE SPO Global