FORM HOLDINGS ACQUIRES EXCALIBUR INTEGRATED SYSTEMS INC.
(Thomson Reuters ONE) -
Acquisition Expands Group Mobile's Services Division with East Coast Hub and
Adds Marquee Customers
Rodger Jenkins Joins as Chief Strategy Officer of Group Mobile
CHANDLER, AZ - February 3, 2017 - FORM Holdings Corp. ("FORM") (NASDAQ: FH), a
diversified holding company, today announced that it has acquired Excalibur
Integrated Systems as a bolt on to its Group Mobile subsidiary.
Excalibur Integrated Systems is an end-to-end solutions provider of mobile
hardware devices, wireless network security, data networking, mobile solutions
application development and software solutions. Excalibur designs, installs,
integrates and implements a broad range of flexible technologies.
In 2016, Excalibur was profitable, generating over $5 million in revenue.
Excalibur's clients include Shaw Industries Group, Nissan Motor Corporation,
MAHLE Corporation, Eastman Chemical, Husqvarna Group, VT Engineering and Camping
World.
"We expect that the acquisition of Excalibur will propel the expansion of Group
Mobile's reach in the rugged and semi-rugged computing peripheral and services
sector. In the 15 months since acquiring Group Mobile, we have assessed several
potential acquisitions. Excalibur's services capabilities, alongside its
reputation built on long standing relationships and repeat business from many of
the leading domestic industrial manufacturing organizations, makes it a unique
player in the sector. We believe this acquisition will accelerate growth at a
consolidated level, driven by greater scale and numerous synergies. We look
forward to Rodger Jenkins and his team joining us," said Andrew Perlman, Chief
Executive Officer of FORM Holdings Corp.
"We are thrilled to announce this transaction with Group Mobile," said Rodger
Jenkins, President and Chief Executive Officer of Excalibur Integrated Systems,
"Since inception, it has been our mission to provide powerful solutions and
systems to our customers. We look forward to leveraging Group Mobile's resources
to execute on opportunities that will enable us to further grow our business by
continuing to deliver top-of-the-line products and services to our clients," Mr.
Jenkins continued.
"For more than 15 years, I have had a close working relationship with Excalibur
and Rodger Jenkins. I have become very familiar with the organization's
industry leading standards and am honored to work in partnership moving forward.
Our goals moving forward are tightly aligned at this exciting time for the
company," said Darin White, President Group Mobile.
Rodger Jenkins is a 35-year industry veteran and has served on the industry
advisory boards of Motorola and Honeywell. He joins Group Mobile as Chief
Strategy Officer.
Under the terms of the agreement, Excalibur shareholders will receive 888,573
shares of FORM Holdings common stock. In addition, Excalibur shareholders are
eligible to receive potential earnout payments to be more fully described in
FORM Holdings' Current Report on Form 8-K to be filed with the Securities and
Exchange Commission.
About Excalibur Integrated Systems
Excalibur Integrated Systems has grown to become a leading industry expert in
wireless network security, data networking, telephony, and mobile application
development and software solutions. Excalibur designs, installs, integrates and
implements a broad range of flexible technology from strategic partnerships with
Motorola, Extreme Networks, Aerohive Networks, Honeywell, LANDesk and Aruba
Networks as customized, turnkey solutions for its clients.
About Group Mobile
Group Mobile, a wholly-owned subsidiary of Form Holdings Corp. (NASDAQ: FH),
headquartered in Phoenix, AZ, serves customers world-wide. Group Mobile is a
growing and
innovative full end-to-end solution provider of rugged mobile hardware,
lifecycle services, system
integration, hardware service support, pre-and post-deployment, break-fix,
warranty repair, customer
support helpdesk and more - all constructed to solve pressing problems and
ensure our customers are receiving exceptional value, return on investment and a
trusted long-lasting partnership. Group Mobile has mastered the true challenges
of mobility through understanding the key elements required for a successful
mobile deployment - hardware, connectivity, data and customer back-end network
infrastructures. Visit, www.groupmobile.com
About FORM Holdings Corp.
FORM Holdings Corp. (NASDAQ: FH) is a publicly held diversified holding company
that specializes in identifying, investing in and developing companies with
superior growth potential. FORM's current holdings include XpresSpa, Group
Mobile, FLI Charge, Infomedia and intellectual property assets. XpresSpa is the
world's largest airport spa company with 52 locations across 24 major airports.
Group Mobile is a provider of rugged, mobile and field-use computing products,
serving customers worldwide. FLI Charge designs, develops, licenses,
manufactures and markets wireless conductive power and charging solutions.
Infomedia is a leading provider of customer relationship management and
monetization technologies to mobile carriers and device manufacturers. FORM
Holdings' intellectual property division is engaged in the development and
monetization of intellectual property. To learn more about Form Holdings Corp.,
visit: www.FormHoldings.com.
Forward-Looking Statements
This press release includes forward-looking statements, which may be identified
by words such as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. Statements in
this press release regarding the acquisition of Excalibur Integrated Systems;
the potential of FORM's business after the acquisition; the ability to raise
capital to fund operations and business plan; market acceptance of FORM
products; the collective ability to protect intellectual property rights;
competition from other providers and products; and any other statements about
FORM's management team's future expectations, beliefs, goals, plans or prospects
constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. There are a number of important
factors that could cause actual results or events to differ materially from
those indicated by such forward-looking statements, including, but not limited
to: the inability to realize the potential value created by the acquisition for
FORM's stockholders; FORM's inability to maintain the listing of its securities
on the Nasdaq Capital Market; the potential lack of market acceptance of FORM's
products; FORM's inability to monetize and recoup FORM's investment with respect
to assets and other businesses that that were acquired or will be acquired in
the future; general economic conditions and level of information technology and
consumer electronics spending; unexpected trends in the mobile phone and telecom
computing industries; the potential loss of one or more of FORM's significant
Original Equipment Manufacturer ("OEM") suppliers; market acceptance, quality,
pricing, availability and useful life of FORM's products and services, as well
as the mix of FORM's products and services sold; potential competition from
other providers and products; FORM's inability to license and monetize FORM's
patents, including the outcome of litigation; FORM's inability to develop and
introduce new products and/or develop new intellectual property; FORM's
inability to protect FORM's intellectual property rights; new legislation,
regulations or court rulings related to enforcing patents, that could harm
FORM's business and operating results; FORM's inability to retain key members of
its management team; and other risks and uncertainties and other factors
discussed from time to time in our filings with the Securities and Exchange
Commission ("SEC"), including FORM's Annual Report on Form 10-K for the year
ended December 31, 2015 filed with the SEC on March 10, 2016. FORM expressly
disclaims any obligation to publicly update any forward-looking statements
contained herein, whether as a result of new information, future events or
otherwise, except as required by law.
Contacts:
FORM Holdings
212-309-7549
info(at)FORMHoldings.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FORM Holdings Corp. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 03.02.2017 - 14:30 Uhr
Sprache: Deutsch
News-ID 521868
Anzahl Zeichen: 10174
contact information:
Town:
New York
Kategorie:
Business News
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