Acquisition
Expands Group Mobile's Services Division with East Coast Hub and
Adds Marquee Customers
Rodger Jenkins
Joins as Chief Strategy Officer of Group Mobile
CHANDLER, AZ - February 3, 2017 - FORM Holdings
Corp. ("FORM") (NASDAQ: FH), a diversified holding company, today
announced that it has acquired Excalibur Integrated Systems as a
bolt on to its Group Mobile subsidiary.
Excalibur Integrated Systems is an end-to-end
solutions provider of mobile hardware devices, wireless network
security, data networking, mobile solutions application development
and software solutions. Excalibur designs, installs, integrates and
implements a broad range of flexible technologies.
In 2016, Excalibur was profitable, generating over
$5 million in revenue. Excalibur's clients include Shaw Industries
Group, Nissan Motor Corporation, MAHLE Corporation, Eastman
Chemical, Husqvarna Group, VT Engineering and Camping World.
"We expect that the acquisition of Excalibur will
propel the expansion of Group Mobile's reach in the rugged and
semi-rugged computing peripheral and services sector. In the 15
months since acquiring Group Mobile, we have assessed several
potential acquisitions. Excalibur's services capabilities,
alongside its reputation built on long standing relationships and
repeat business from many of the leading domestic industrial
manufacturing organizations, makes it a unique player in the
sector. We believe this acquisition will accelerate growth at a
consolidated level, driven by greater scale and numerous synergies.
We look forward to Rodger Jenkins and his team joining us," said
Andrew Perlman, Chief Executive Officer of FORM Holdings Corp.
"We are thrilled to announce this transaction with
Group Mobile," said Rodger Jenkins, President and Chief Executive
Officer of Excalibur Integrated Systems, "Since inception, it has
been our mission to provide powerful solutions and systems to our
customers. We look forward to leveraging Group Mobile's resources
to execute on opportunities that will enable us to further grow our
business by continuing to deliver top-of-the-line products and
services to our clients," Mr. Jenkins continued.
"For more than 15 years, I have had a close
working relationship with Excalibur and Rodger Jenkins.
I have become very familiar with the organization's industry
leading standards and am honored to work in partnership moving
forward. Our goals moving forward are tightly aligned at this
exciting time for the company," said Darin White, President Group
Mobile.
Rodger Jenkins is a 35-year industry veteran and
has served on the industry advisory boards of Motorola and
Honeywell. He joins Group Mobile as Chief Strategy Officer.
Under the terms of the agreement, Excalibur
shareholders will receive 888,573 shares of FORM Holdings common
stock. In addition, Excalibur shareholders are eligible to receive
potential earnout payments to be more fully described in FORM
Holdings' Current Report on Form 8-K to be filed with the
Securities and Exchange Commission.
About Excalibur Integrated
Systems
Excalibur Integrated Systems has grown to become a
leading industry expert in wireless network security, data
networking, telephony, and mobile application development and
software solutions. Excalibur designs, installs, integrates and
implements a broad range of flexible technology from strategic
partnerships with Motorola, Extreme Networks, Aerohive Networks,
Honeywell, LANDesk and Aruba Networks as customized, turnkey
solutions for its clients.
About Group Mobile
Group Mobile, a wholly-owned subsidiary of Form
Holdings Corp. (NASDAQ: FH), headquartered in Phoenix, AZ, serves
customers world-wide. Group Mobile is a growing and
innovative full end-to-end solution provider of rugged mobile
hardware, lifecycle services, system
integration, hardware service support, pre-and post-deployment,
break-fix, warranty repair, customer
support helpdesk and more - all constructed to solve pressing
problems and ensure our customers are receiving exceptional value,
return on investment and a trusted long-lasting partnership. Group
Mobile has mastered the true challenges of mobility through
understanding the key elements required for a successful mobile
deployment - hardware, connectivity, data and customer
back-end network
infrastructures. Visit, www.groupmobile.com
About FORM
Holdings Corp.
FORM Holdings Corp. (NASDAQ: FH)
is a publicly held diversified holding company that specializes in
identifying, investing in and developing companies with superior
growth potential. FORM's current holdings include XpresSpa,
Group Mobile, FLI Charge, Infomedia and intellectual property
assets. XpresSpa is the world's largest airport spa company
with 52 locations across 24 major airports. Group Mobile is a
provider of rugged, mobile and field-use computing products,
serving customers worldwide. FLI Charge designs, develops,
licenses, manufactures and markets wireless conductive power and
charging solutions. Infomedia is a leading provider of
customer relationship management and monetization technologies to
mobile carriers and device manufacturers. FORM Holdings'
intellectual property division is engaged in the development and
monetization of intellectual property. To learn more about Form
Holdings Corp., visit: www.FormHoldings.com.
Forward-Looking
Statements
This press release includes
forward-looking statements, which may be identified by words such
as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative
of such terms, or other comparable terminology. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein. Statements in
this press release regarding the acquisition of Excalibur
Integrated Systems; the potential of FORM's business after the
acquisition; the ability to raise capital to fund operations and
business plan; market acceptance of FORM products; the collective
ability to protect intellectual property rights; competition from
other providers and products; and any other statements about FORM's
management team's future expectations, beliefs, goals, plans or
prospects constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. There are
a number of important factors that could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including, but not limited to: the
inability to realize the potential value created by the acquisition
for FORM's stockholders; FORM's inability to maintain the listing
of its securities on the Nasdaq Capital Market; the potential lack
of market acceptance of FORM's products; FORM's inability to
monetize and recoup FORM's investment with respect to assets and
other businesses that that were acquired or will be acquired in the
future; general economic conditions and level of information
technology and consumer electronics spending; unexpected trends in
the mobile phone and telecom computing industries; the potential
loss of one or more of FORM's significant Original Equipment
Manufacturer ("OEM") suppliers; market acceptance, quality,
pricing, availability and useful life of FORM's products and
services, as well as the mix of FORM's products and services
sold; potential competition from other providers and products;
FORM's inability to license and monetize FORM's patents, including
the outcome of litigation; FORM's inability to develop and
introduce new products and/or develop new intellectual property;
FORM's inability to protect FORM's intellectual property
rights; new legislation, regulations or court rulings related to
enforcing patents, that could harm FORM's business and operating
results; FORM's inability to retain key members of its management
team; and other risks and uncertainties and other factors discussed
from time to time in our filings with the Securities and Exchange
Commission ("SEC"), including FORM's Annual Report on Form 10-K for
the year ended December 31, 2015 filed with the SEC on March 10,
2016. FORM expressly disclaims any obligation to publicly
update any forward-looking statements contained herein, whether as
a result of new information, future events or otherwise, except as
required by law.
Contacts:
FORM
Holdings
212-309-7549
info@FORMHoldings.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: FORM Holdings Corp. via Globenewswire
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