AmbiCom and Voosh close Asset Purchase Agreement
September 29 2017 - 9:00AM
InvestorsHub NewsWire
AmbiCom and Voosh close Asset
Purchase Agreement
SANTA CRUZ, CA -- September 29,
2017 -- InvestorsHub NewsWire -- AmbiCom Holdings, Inc. (OTCPS:
ABHI), the leading provider of cloud based Active Optimization
services for Personal Computers and servers, today announced that
it has finalized the asset purchase agreement with Voosh, LLC, to
join together and create a formidable technology driven company.
Under the terms of the asset
purchase agreement, AmbiCom Holdings, Inc. has purchased Voosh’s
sales and distribution company, along with assets that include the
application code that performs Active Optimization, protected by
Patent number US 8,438,378 B2.
As part of this transaction, Kevin
Cornell will replace Alain LeWand as the Chief Executive Officer of
AmbiCom Holdings Inc.
“First, let me extend a heartfelt
thank you to Alain who stepped into the CEO role at a time when
AmbiCom was mired in serious debt and legal issues. He
shepherded AmbiCom through these troubles and gave it a chance for
a fresh start,” stated Kevin Cornell. “Our short-term focus
will be to finalize the corporate requirements to get AmbiCom’s SEC
requirements current so it can be a fully reporting public
entity. As well, we will be turning AmbiCom into an operating
company, selling its unique optimization product into multiple
markets, either directly or through partnerships. Our focus
is increasing our corporate value and, by extension, our
shareholders value.”
Also joining AmbiCom Holdings will
be Marvin J Miller Jr, in the position of General Counsel and Chief
Operating Officer, and Paul McGee in the position of Director of
Technical Marketing.
AmbiCom has also established an
advisory board. The first member of this board is Michael
Lazar. Michael was the creator of the Active Continuous
Optimization product and is named on our active optimization patent
number US 8,438,378 B2
About AmbiCom Holdings,
Inc.
AmbiCom Holdings Inc., headquartered in Santa
Cruz, California, searches out, acquires and/or invests in unique
technologies that have the potential for wide adoption in large
markets. AmbiCom looks for mature management teams that have
a history of successfully converting new concepts into
products.
Of particular interest are high margin products
that have the ability to enhance user’s experience while generating
a positive return on investment.
We are acutely aware of our responsibility to
the investors that have placed their trust in our abilities to
effectively manage the assets of AmbiCom on their
behalf.
For more information, visit www.ambicom.com.
About Voosh
Voosh LLC markets and supports
optimization software that is licensed from AmbiCom Holdings
Inc. This software improves the performance of servers and
workstations through the automatic evaluation and adjustment of the
manufacturers’ supplied settings. The Voosh application has
been certified by Microsoft, IBM, VMware and Citrix in independent
evaluations. It has also won the ‘Cool Vendor’ award from
Gartner in the area of infrastructure tools. Voosh is located
in Santa Cruz, CA.
For more information visit vooshtech.com
Forward-Looking
Statements
This press release contains
"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. Although forward-looking
statements in this release reflect the good faith judgment of
management, forward-looking statements are inherently subject to
known and unknown risks and uncertainties that may cause actual
results to be materially different from those discussed in these
forward-looking statements, including but not limited to our
ability to maintain our website and associated computer systems,
our ability to generate sufficient market acceptance for our
products and services, our ability to generate sufficient operating
cash flow, and general economic conditions. Readers are urged to
carefully review and consider the various disclosures made by us in
our reports filed with the Securities and Exchange Commission from
time to time which attempt to advise interested parties of the
risks and factors that may affect our business, financial
condition, results of operation and cash flows. If one of more of
these risks or uncertainties materialize, or if the underlying
assumptions prove incorrect, our actual results may vary materially
from those expected or projected. Readers are urged not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this release. We assume no obligation to
update any forward-looking statements in order to reflect any event
or circumstance that may arise after the date of this
release.
Contacts
Paul McGee
AmbiCom Holdings Inc
pmcgee@ambicom.com
(408) 757-0715