Efftec Announces Acquisition of YamYam, LLC as Wholly-Owned Subsidiary
October 15 2013 - 9:00AM
Marketwired
Efftec Announces Acquisition of YamYam, LLC as Wholly-Owned
Subsidiary
TULSA, OK--(Marketwired - Oct 15, 2013) - Efftec International,
Inc. (OTC: EFFI): Efftec today announced that it has completed the
full acquisition of YamYam, LLC ("YamYam" or the "Company"), a
software and mobile application development company based in Reno,
NV.
YamYam has shown an impressive track record in terms of business
ability and acumen since its inception in early 2011, essentially
skipping the 'start-up' phase, producing tangible revenues and
profits in its first year of business. On a year-over-year basis,
the Company has shown growth of 350% in top-line revenues from 2012
to 2013, having booked over $320,000 in revenues to date this
year.
During our diligence period, YamYam stood out as the best choice
for Efftec and our shareholders amongst the short list of potential
acquisition candidates. The Company was selected not only for its
impressive operating history, but for its proprietary software and
IP asset base. YamYam owns the source coding, frameworks, and other
related IP which serve as the functional basis for a number of
games and applications which are currently active and in-use.
Dr. Clinton, CEO of Efftec, stated that, "We are very pleased to
bring the news of this acquisition to our valued shareholders. With
YamYam, we saw a company which was operating quite well in its own
regard, in a sector which analysts unanimously agree will continue
to see excellent growth for the next many years to come. As
importantly, also as one which, with the backing of our company,
could be pushed to new heights rather quickly. We intend to grow
YamYam into a true competitor to the medium and, potentially, to
the majors in its sector."
"We will expand upon the operating history, management, and
current and upcoming business of YamYam very shortly," continued
Dr. Clinton.
Per discussions between the management of both companies, YamYam
will retain its name and structure as a limited-liability company
for the present time, wholly-owned by Efftec. Future plans may
include incorporation.
About:
Efftec International, Inc. is a holding company with three
wholly owned subsidiaries. Efftec, is active in the area of
acquisition and proprietary development of software, platforms,
sustainability, and general improvements in the efficiency scales
in various industries.
Safe Harbor:
This Press Release may contain, among other things, certain
forward-looking statements, including, without limitation, (i)
statements with respect to the Company's plans, objectives,
expectations and intentions; and (ii) other statements identified
by words such as "may," "could," "would," "should," "believes,"
"expects," "anticipates," "estimates," "intends," "plans" or
similar expressions. These statements are based upon the current
beliefs and expectations of the Company's management and are
subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements.
These forward-looking statements involve certain risks and
uncertainties that are subject to change based on various factors
(many of which are beyond the Company's control).