ATLANTA, Dec. 1, 2016 /PRNewswire/ -- Yippy, Inc.
(OTCMKTS: YIPI) ("Yippy" or the "Company"), a unified enterprise search company, today announced that the Company and
Michael Cizmar and Associates Ltd. ("MC+A") have mutually agreed to terminate the previously
entered into merger agreement between the parties pursuant to which MC+A was to become a wholly-owned subsidiary of Yippy.
The transaction was scheduled to close earlier this quarter.
The goal of the merger was to enhance Yippy's sales efforts within its search appliance business segment, focusing on
customers looking to transition away from the Google Search Appliance (GSA) in light of Google's planned exit from the
market. The Yippy Search Appliance (YSA) is an out-of-the-box solution which substantially reduces upfront costs,
particularly for front-end development and connectors. Those upfront development/connector costs are major revenue drivers
for Google VARs creating unmanageable work flows and the need for third parties which substantial increase end user costs and
time to production. During the merger due diligence process, the parties determined that various factors, including
differences in sales methodologies, would not allow for the intended synergy benefit both parties anticipated when originally
constructing the transaction.
"We appreciated the learning experience and the knowledge we amassed during the due diligence process. Our team wishes
MC+A great success in the future as they have a lot of experience in search," stated Richard
Granville, CEO, Yippy, Inc. He continued, "Lastly, we had a great 2Q with cash and system deliveries at record
levels, which we believe is the best indicator of staying on course to provide faster, better, cheaper solutions to our
clients."
To find out more about our services and products, please visit our website (www.yippyinc.com) and you can learn more about Yippy's search technologies at the following links.
Yippy Search Technology Overview
http://www.otcmarkets.com/companyPresentationViewer?cmdId=1628&symbol=YIPI
History of Yippy and Google Product Comparison - Video
https://www.youtube.com/watch?v=RG8Ag4BCu6E
About Yippy, Inc.
Yippy, Inc. (www.yippyinc.com) is a technology company
that specializes in the development of search-based applications, data normalization and aggregation through enterprise
application service environments (EASE). Yippy's proprietary appliance and cloud based product suites are deployed over
private and/or public architecture providing all consumers secure, redundant and maintained data access services. Investors
can find current financial disclosure for the company at http://www.otcmarkets.com/stock/YIPI/filings.
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SOURCE Yippy, Inc.