DirectView
Signs Letter of Intent to Acquire
a Privately Held
Nationwide New
York-Based
Security,
Surveillance and Low Voltage
Supply Company
The target company is well
established and profitable with
2018 unaudited revenues of
approximately $45
million to
date
New York, NY
-- December
17,
2018 -- InvestorsHub NewsWire
-- DirectView Holdings, Inc.
(DIRV) ("DirectView"
"We"or
the "Company"), a
company focused on ownership and management of leading video and
security technology companies, today announced that it has entered into
a nonbinding letter
of intent (LOI) to acquire 100% of
the
business
assets of a nationwide New York
based security, surveillance and low
voltage supply company (the "Target Company")
for a combination
of cash, debt and stock subject to change
(the
"Acquisition"). DirectView
is currently
conducting
due
diligence
and
has entered
into discussions with funding
sources to arrange the financing necessary to facilitate
the transaction. The Target Company's
business has achieved Non-GAAP
unaudited
revenues of
approximately
$45
million
to date
in
2018
and
is
operationally
profitable. Upon satisfaction of the
financing requirements and the Company's due diligence and
evaluation DirectView plans for
the
Target
Company
to
become a wholly owned subsidiary of
DirectView Holdings, Inc.
DirectView
is actively
working to fulfill its plan to seek
accretive
acquisitions to expand its operations,
revenues and
profits. We
believe the acquisition of the Target Company
would
greatly benefit the shareholders of
the Company
by significantly
increasing the
Company's revenues and allowing the DirectView Holdings subsidiaries
to achieve much
greater buying power, providing for
greater
margins.
The
Acquisition will also provide the
Company
with nearly 100 additional staff nationwide
and excellent
management to service its growing client
base. The Company is using this potential
transaction in an effort
to continue its
roll up strategy and corporate mission to strategically
restructure its
debt and up-list to a senior stock
exchange.
DirectView can
provide no assurances that it will acquire the Target Company or
that the
Acquisition
will be integrated into DirectView's business operations
successfully.
Roger Ralston, CEO
and Chairman of DirectView, stated "We couldn't be more
excited to
make this announcement as we near the end of the
year and we couldn't be
more proud
as we look back
at where
we have
come as a
company. The latest completed
acquisition
of
ApexCCTV
and
Virtual
Surveillance
increased sales of the Company by several million dollars per
year. This next acquisition
has the potential
to increase sales by tens of millions of dollars
and put us at over $50 million dollars in
annual revenue. DirectView's
team is very
excited at the current direction we are going
and the potential
to work
with the target company's
team.
The synergy we will
possess together is truly monumental for all aspects of our
businesses. We are looking forward to continuing our
growth both organically and through additional
potential
business
acquisitions. We are looking forward
to
reaching our
definitive agreements and adding the experienced management and
financial strengths that come with this acquisition. We are laser
focused on
our strategy to grow DirectView and
build significant
long-term value for our
shareholders."
About DirectView Holdings,
Inc.
DirectView
Holdings, Inc., together with its subsidiaries, provides video
surveillance solutions and teleconferencing products and services
to businesses and organizations. The company operates in two
divisions, Security (Video Surveillance) and Video Conferencing.
The Security division offers technologies in surveillance
systems providing onsite and remote video and audio surveillance,
digital video recording, and services. It also sells and installs
surveillance systems; and sells maintenance agreements. The company
sells its products and services in the United States and
internationally through direct sales force, referrals, and its
Websites. The Video Conferencing division offers teleconferencing
products and services that enable clients to conduct remote
meetings by linking participants in geographically dispersed
locations. It is involved in the sale of conferencing services
based upon usage, the sale and installation of video equipment, and
the sale of maintenance agreements. This division primarily
provides conferencing products and services to numerous
organizations ranging from law firms, banks, high tech companies
and government organizations. For more information visit our
website at www.DirectView.com and connect with us on Twitter,
LinkedIn, Facebook, and Google+.
Contact:
DirectView Holdings,
Inc.
Roger
Ralston
+1-212-858-9100
EXT. 111
www.DirectView.com
IR@DirectView.com
Cautionary Statement Regarding Forward Looking
Statements
Forward Looking
Statements: This press release contains forward-looking statements
that involve a number of risks and uncertainties, including
statements regarding the outlook of the Company's business and
results of operations. By nature, these risks and uncertainties
could cause actual results to differ materially from those
indicated. Generally speaking, any statements using terms such as
"will," "expect," "anticipate," or "may," or which otherwise
predict or address future results or events, are likely to contain
forward-looking statements. It is important to note that actual
results may differ materially from what is indicated in any
forward-looking statement. Readers should consider any
forward-looking statements in light of factors that could cause
actual results to vary. These factors are described in our filings
with the SEC, and readers should refer to those filings, including
Risk Factors described in those filings, in connection with any
forward-looking statements. The Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.