iTeknik Holding Corporation Seeks Merger/Acquisition Candidates
August 16 2011 - 12:32PM
Marketwired
iTeknik Holding Corporation (PINKSHEETS: ITKH), a leader in the
telecommunications industry, today announced that it has launched a
search for acquisition and merger candidates in the information
technology industry or related field. The Company has executed five
non-disclosure agreements and is currently evaluating two specific
transactions. One transaction would be a potential acquisition and
the second proposal would be a merger. In addition, the Company is
having serious discussions with three other parties regarding other
specific opportunities. The Company desires to enter into an
acquisition or merger agreement by the end of the year.
Fredrick Wicks, Chairman and CEO of iTeknik Holding Corporation,
stated, "iTeknik Holding Corporation was formed to find merger and
acquisition partners in order to grow and increase the value of the
Company. We conducted a series of meetings on Wall Street with
several investment banking firms, fund managers and business
brokers. These firms were very positive about the prospects of
obtaining funds for iTeknik's strategic plans. The Board of
Directors feels that now is the time to move forward and find
opportunities that will expand our product portfolio into other
industries."
iTeknik Holding Corporation (PINKSHEETS: ITKH) is classified as
"Current Information" and trades on the OTC Pink tier of the OTC
Market. For real time quotes and market information on the company
visit http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation iTeknik Holding Corporation
was formed to develop and launch new technology and products in the
global communications market. Through its Send Global subsidiary,
iTeknik provides wholesale and retail telecommunications services,
and products worldwide. Its services include voice over Internet
protocol origination and termination; A-Z routing and switching;
wholesale carrier routing services; reseller billing and reporting;
Web-based reseller solutions; prepaid calling card solutions;
international cellular calling; and retail point of sale solutions.
The company serves B2B carriers, telecom resellers, retail outlets
and consumers direct through websites such as www.MyMobile011.com,
www.greatminutes.com, www.AloBilady.com, www.indiaminutes.com and
www.MexicoMinutes.com. iTeknik Holding Corporation was founded in
2007 and is based in Commerce, Michigan. Through its subsidiaries,
iTeknik has more than 16 years of history in the telecommunications
industry. For more information please visit website www.iteknik.com
and www.sendglobal.com.
Safe Harbor: This document contains
certain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended and Section 21E of
the Securities Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability of the
Company to successfully implement its turnaround strategy, changes
in costs of raw materials, labor, and employee benefits, as well as
general market conditions, competition and pricing. Although the
Company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of
the assumptions could be inaccurate, and therefore, there can be no
assurance that the forward-looking statements included in this
letter will prove to be accurate. In light of the significant
uncertainties inherent in the forward-looking statements included
herein, the inclusion of such information should not be regarded as
representation by the Company or any other person that the
objectives and plans of the Company will be achieved. In assessing
forward-looking statements included herein, readers are urged to
carefully read those statements. When used in the Annual Report on
Form 10-K, the words "estimate," "anticipate," "expect," "believe,"
and similar expressions are intended to be forward-looking
statements.
Contact: Investor Relations Email Contact
888-333-1486 Ext. 112 http://www.iTeknik.com
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