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Epazz, Inc. (OTCQB: EPAZ), a leading provider of cloud based business software solutions recently announced a 50 percent boost in revenues in the third quarter announced that the Company has signed a letter of intent to acquire a Software Technology Solution Company in the Southeastern U.S. This new acquisition is expected to provide substantial growth to Epazz's revenue stream by bringing in $800,000 in revenues in the first year. The unaudited revenues for 2012 were over $900,000.
The target company was founded in 1990s and has a long history of positive cash flow and profitability. The software technology products are considered to be truly unique and there are few competitors presently in the market offering such an all-encompassing suite of software technology products within their target market thereby 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.'s 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 the 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.
"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," or "continue" (or the negative 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 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 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. Investors are encouraged to review Epazz's public filings on SEC.gov, including its unaudited and audited financial statements, and its Registration Statement, Form 10-K's and Form 10-Q's, which contain general business information about the Company's operations, results of operations and risks associated with the Company and its operations. Penny stock picks need to be research. Do your homework. Please review all of our filings.