AUSTIN, TX--(Marketwired - March 31, 2015) - At the end of last week, Ecrypt Technologies, Inc. (OTCQB: ECRY) signed a Letter of Intent with DTREDS Consolidated Inc. (DCI) for the acquisition of Viking Telecom Services, LLC (Viking).
The proposed transaction is for the acquisition of Viking's assets only, negotiated at a price of $1,000,000 payable in ECRY stock. Ecrypt's preliminary due diligence indicates that the projected sales for the next 12 months resulting from the acquisition of Viking assets should be over $7,500,000, with an EBITDA of over $2,000,000.
"We are executing on both our organic growth and merger and acquisition strategies," commented Ecrypt's Chairman and CEO, Dr. Thomas Cellucci. "Viking Telecom fits perfectly into the Systems business within our portfolio."
Both parties will perform additional due diligence prior to the consummation of the transaction.
To learn more about Ecrypt's growth strategy, visit http://ecryptinc.com/company/investors/.
About Ecrypt Technologies
Ecrypt Technologies, Inc. is a high technology security solutions portfolio provider that assists corporate entities, governments and individuals to protect their organizations against both physical and cyber-attacks through its offering of the most technically-advanced, cost-effective and reliable software, tools and systems. Dr. Thomas A. Cellucci, Ecrypt's Chairman and CEO, is the Chairman and CEO of DCI.
For more information, visit www.ecryptinc.com.
Safe Harbor Statement
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. The economic, competitive, governmental, technological and other factors identified in the Company's previous filings with the Securities and Exchange Commission may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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