CleanSpark Completes Strategic Acquisition of p2klabs Inc.
February 06 2020 - 9:00AM
CleanSpark, Inc. (Nasdaq: CLSK), a software company with advanced
engineering, software and controls for innovative microgrid and
distributed energy resource management systems today announced it
has completed the acquisition of all of the issued and outstanding
shares of p2klabs, Inc. a design and innovation consulting firm
that specializes in applying design, technology, and business
process methodologies to create intuitive digital experiences and
journeys that help transform and grow businesses.
“This acquisition will enable CleanSpark to continue to
accelerate the development and deployment of our software platforms
and significantly expand our sales and marketing capabilities.
This strategic move will bring significantly increased
software revenues, and the integration of the talented p2k team
will allow us to reduce our operating expenses. We have been
working with p2klabs for the past several months and have been
impressed with their capabilities. It was quickly apparent
that an acquisition of p2k’s technologies and team was the right
move.” said CEO of CleanSpark, Zach Bradford.
Mr. Bradford continued, “We are projecting that the acquisition
will add up to $2,000,000 in additional revenue related to the
acquired business in the coming year. We will also be adding
significant depth in software sales experience and will be
enhancing our top-tier sales and marketing team. Mr. Amer
Tadayon will join the CleanSpark executive team as the Company’s
Chief Revenue Officer to oversee this enhanced business development
strategy. Mr. Tadayon has more than 25 years of experience working
with world-class companies including IBM, Cognizant and Frog
Design.”
Mr. Tadayon commented “We are excited to join the CleanSpark
family of personnel and technologies and to help further innovate
on their product offerings, as well as to make available an even
more diverse set of services to their existing client base.”
Mr. Bradford concluded, “We’ve identified the opportunity to
maximize the value of our offering, internalize what would
otherwise be expenses, and diversify our ability to better serve
our valued clients. We also plan to add further strategic
acquisitions in the near future to continue to build the Company’s
reach and capabilities.”
About CleanSpark:
CleanSpark provides advanced energy software and control
technology that enables a plug-and-play enterprise solution to
modern energy challenges. Our services consist of intelligent
energy monitoring and controls, microgrid design and engineering,
microgrid consulting services and turn-key microgrid implementation
services. CleanSpark's software allows energy users to obtain
resiliency and economic optimization. Our software is uniquely
capable of enabling a microgrid to be scaled to the user's specific
needs and can be widely implemented across commercial, industrial,
military, agricultural and municipal deployment.
About p2kLabs Inc:
P2K Labs is a design and innovation consulting firm that
specializes in applying design, technology, and business process
methodologies to create intuitive digital experiences and journeys
that help transform and grow businesses.
Forward-Looking Statements:
CleanSpark cautions you that statements in this press release
that are not a description of historical facts are forward-looking
statements. These statements are based on CleanSpark's current
beliefs and expectations. The inclusion of forward-looking
statements should not be regarded as a representation by CleanSpark
that any of our plans will be achieved. Actual results may differ
from those set forth in this press release due to the risk and
uncertainties inherent in our business, including, without
limitation: the ability to successfully integrate p2k into
CleanSpark’s business and operations, the expectations of future
revenue growth may not be realized, demand for our software
products; and other risks described in our prior press releases and
in our filings with the Securities and Exchange Commission (SEC),
including under the heading "Risk Factors" in our Annual Report on
Form 10-K and any subsequent filings with the SEC. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, and we
undertake no obligation to revise or update this press release to
reflect events or circumstances after the date hereof. All
forward-looking statements are qualified in their entirety by this
cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
Shawn Severson
Integra Investor Relations
(415) 233-7094
info@integra-ir.com
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