CHICAGO, IL--(Marketwired - Feb 6, 2014) - Epazz, Inc. (OTCQB: EPAZ), a leading provider of cloud-based business software solutions, announced that the Company has agreed to acquire a small business software company. This new software acquisition is expected to provide substantial growth to Epazz's revenue stream by generating a 5% increase in recurring revenues in the first year.
The target company was founded in the 2000s and its revenues increased by 300% over the past few years. There are few competitors presently in the market offering such an all-encompassing suite of software within their target market, making this move quite strategic in Epazz, Inc.'s projected growth.
Epazz has been increasing its global distribution channels and continues to search for suitable acquisitions. Epazz, Inc. CEO Shaun Passley noted, "This acquisition will be immediately accretive to our revenue and profit stream. It will provide a solid customer base, and it opens up many opportunities to cross-sell customers on Epazz's BoxesOS portal software, DeskFlex room scheduling software, Agent Power workforce management software, Intellisys energy management software, AutoHire applicant tracking system, K9 Bytes kennel software, and MS Health social services 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 process." Epazz, Inc. is in negotiations to acquire several other B2B software companies. Epazz, Inc.'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 business 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 have to otherwise buy separately. Epazz, Inc.'s other products include AgentPower, a workforce management software, and AutoHire, an applicant tracking system.
"Safe Harbor" statement 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 forward-looking statements such 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 and 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, Inc.'s public filings on SEC.gov, including its unaudited and audited financial statements, Registration Statement, and Form 10-K's and Form 10-Q's, 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 homework and review all of our filings.
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