Quadrant 4 Systems Corporation (Q4) Announces Merger With Momentum Mobile to Form Q4 Mobility
February 18 2013 - 8:30AM
Marketwired
Quadrant 4 Systems Corporation (Q4) (OTCQB:
QFOR)
and Momentum Mobile today announced the
merger between the two companies to form Q4 Mobility.
Building on their status as a best-in-class information
technology innovator, and their heritage as an IT ground-breaker in
outsourcing and infrastructure services, Q4 expects the combined
company to become a leading provider of Mobile Applications and
Business Solutions worldwide, offering their clients greater depth
and range of services. Shareholders of both companies
overwhelmingly approved and closed the merger on Monday, January
28th, 2013.
Quadrant 4 Systems Corporation is a global leader in Information
Technology (IT) products and services, providing end-to-end IT
Solutions and Consulting for their customers, including Enterprise
Resource Planning, Product Engineering Services, Application
Management Services, Business Intelligence, and Custom Software
Development. With the requisite critical mass and scale to offer
global solutions, and with the inclusion of Momentum Mobile's
expertise in the Mobile Development market, Q4 Mobility is now
positioned to address a comprehensive range of business solutions
for all functional areas of its customers' organizations.
"This merger represents the best strategic move for both Q4 and
Momentum Mobile, a strategy that is certain to deliver increased
value to our clients, as well as existing Q4 shareholders," said
Josh Carlucci, Momentum Mobile's President. "We are confident that
Q4 Mobility will increase our competitive advantage in product
offerings, sales distribution and support, while enhancing the
relationships with existing clients from both companies." Q4 is now
poised for leadership in the Mobile Development market, one that
saw revenues in excess of $30 billion in 2012.
The business merger supports Q4's overall strategy to deliver
the most comprehensive and highest quality IT Solutions on the
market. The merger positions both entities to streamline their
business and leverage opportunities for cost-efficiency, and at the
same time increase the service and depth of products for their
customers. Each company has strong offerings targeted to different
needs in our target corporate customer base: Momentum Mobile
focused on Mobile App development, and Q4 offering Enterprise IT
Solutions and Consulting. By combining these complementary
offerings, Q4 Mobility can provide new and existing clients with a
broad range of IT and Business Enterprise Solutions, meeting the
needs of almost any organization.
About Quadrant 4 Systems Corporation
Quadrant 4 Systems Corporation delivers end-to-end information
technology solutions to its clients through a unique blend of
product solutions, consulting, software development &
maintenance, cloud based products and technology from its global
delivery centers. The company currently focuses on the Healthcare,
Financial Services, IT Consulting, and Retail sectors. The company
plans to enhance it positions and technical strength through
acquisition of other IT enabled and managed services sector and
cloud based services through business acquisitions and/or
combination opportunities in the near future to further execute its
articulated business strategy.
Forward-Looking Statements This release
contains forward-looking statements which are subject to the
inherent uncertainties in predicting future results and conditions.
Any statements that are not statements of historical fact
(including statements containing the words "believes," "plans,"
"anticipate," "expects," "estimates," and similar expressions)
should be considered to be forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933, and Section
21E of the Exchange Act of 1934, as each is amended, for which the
Private Securities Litigation Reform Act of 1995 provides a safe
harbor. Certain factors (including but not limited to those risk
factors identified from time to time in our filings with the
Securities and Exchange Commission as well as changes in economic
conditions; outcome of negotiations; changes in the Company's
access to necessary capital; outcome of litigation; volatility of
capital markets; variability and timing of business opportunities;
changes in accounting policies and practices; the effects of
internal organizational changes; adverse state and federal
regulation and legislation; and the occurrence of extraordinary or
catastrophic events and terrorist acts; or other unforeseen changes
in circumstances) could cause actual results and conditions to
differ materially from those projected in such forward-looking
statements. We do not undertake any obligation to release publicly
revised or updated forward-looking information, and such
information included in this release is based on information
currently available and may not be reliable after this date.
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For more information, please contact: Niki Bossonis Marketing
Director Fanggle Email Contact www.fanggle.com