Epazz, Inc. (OTC Pink: EPAZ) (PINKSHEETS: EPAZ), a leading provider of cloud-based business software solutions, announced that the Company has secured financing to acquire a software company used by Midwestern U.S. colleges and universities. No common shares will be issued from this financing. This new acquisition is expected to increase Epazz's revenue stream by generating $300,000 in recurring revenues during the first year. Epazz expects to complete the acquisition in the second quarter.
The target company was founded in the 2000s and has a long history of profitability. The company's software product is considered to be truly unique. There are few companies in the market that offer such an all-encompassing software suite within their target market, making this move quite strategic for Epazz's projected growth.
Epazz has been increasing its global distribution channels and continues to search for suitable acquisitions. Epazz CEO Shaun Passley, PhD, noted, "This acquisition will be immediately accretive to our revenue and profit streams. It will provide a solid customer base and open up many opportunities to cross-sell customers on Epazz's BoxesOS portal software, DeskFlex room scheduling software, Agent Power, Nortel workforce management software add-on, and Cisco call center software add-on. Intellisys energy management software, AutoHire applicant tracking system, K9 Bytes kennel software, and MS Health EMR software. With the synergies of our companies, customers can continue to look forward to innovative, effective, and efficient software tools geared to enhancing their business processes." Epazz is in negotiations to acquire several other B2B software companies. Epazz's action is a clear reflection of its long-term strategic growth plan to acquire profitable B2B software companies.
About Epazz, Inc. (www.epazz.com)
Epazz, Inc., is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher education institutions, and the public sector. Epazz BoxesOS™v3.0 is the complete web-based software package for small to mid-size businesses, Fortune 500 enterprises, government agencies, and higher education institutions. BoxesOS provides many of the web-based applications that organizations would usually buy separately. Epazz's other products include AgentPower, a workforce management software, and AutoHire, an applicant tracking system.
"Safe Harbor" statements are protected under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the use of such terms as "may," "expect," "intend," "estimate," "anticipate," "believe," "continue" or the negatives thereof or similar terminology. Such forward-looking statements are subject to risk, uncertainties, and other factors that could cause actual results to differ materially from future results or from results implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc., assumes no obligation, does not intend to update these forward-looking statements, and takes no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, Registration Statement, and Form 10-Ks and Form 10-Qs, which contain general business information about the Company's operations as well as results of operations and risks associated with the Company and its operations. Penny stock picks need to be researched. Please do your due diligence and review all of our filings.
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SOURCE: Epazz, Inc.