SAN RAMON, Calif., July 11, 2012 /PRNewswire/ -- Systems America, Inc. (OTC: SYAI) (the "Company"), a premier provider of cloud computing and information technology solutions, announced today that it has been negotiating terms to acquire several Enterprise Cloud Application and Services companies that would extend the company's service offering in United States, Europe and India. Most recently, the Company identified, evaluated and discussed acquisition prospects with more than 8 different businesses with a range of annual revenues from $18 million to $40 million. We signed terms sheets with four of the acquisition targets, Mobile application and Social Media Services Company, with revenues in excess of $40 million and earnings in excess of $5.4 million for the year ended December 31, 2011. In addition, the Company is currently negotiating terms with two acquisition targets, Cloud Application Services Company, with revenues in excess of $24 million and earnings in excess of $2.8 million for the year ended December 31, 2011, and another acquisition target with Mobile Application services and Social Analytics Company with revenues in excess of $25 million and earnings in excess of $4.1 million for the year ended December 31, 2011. As of June 30, 2012, the Company completed an acquisition of Mile5 Solutions, LLC, a SAP Channel Partner. The Company expects to close several acquisitions in 2012 by issuing shares of common stock of the Company.
Adesh Tyagi, Chairman and CEO of Systems America, states, "Over the past few months, we have met with a number of exciting companies that would add a lot of value in our service offering and extend our global reach. We believe that the 2nd half of 2012 will give us a number of opportunities to close on few acquisitions globally and offer integrated products and services focused on Enterprise, Cloud and Application Services to our clients."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company is headquartered in San Ramon, California, United States. For additional information about Systems America, please visit http://www.systemsamerica.com.
Forward-Looking Statements Disclosure
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.