DGAP-News: 3A Finance PLC : 3A Finance Group has finalized a letter of intent to acquire 51% of TESEO Systems Ltd.
(firmenpresse) - DGAP-News: 3A Finance PLC / Key word(s): Letter of Intent
3A Finance PLC : 3A Finance Group has finalized a letter of intent to
acquire 51% of TESEO Systems Ltd.
26.09.2011 / 10:00
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Media Release:
3A Finance Group has finalized a letter of intent to acquire 51% of TESEO
Systems Ltd.
London/Zürich, 26 September 2011 - 3A Finance PLC is pleased to announce
that it has finalized a letter of intent for the acquisition of 51%
interest into TESEO Systems Ltd. (www.teseosystems.com).
TESEO Systems Ltd. develops high-performance, cost-effective, best-of-breed
technology solutions for the emerging markets of Africa and The Middle
East. TESEO introduces the concept of inWiMAX, a turnkey, end-to-end
wireless connectivity solution for voice, data, multimedia and mobile
services in emerging markets from tens of thousands to millions of
subscribers. inWiMAX is a wireless broadband platform that could contribute
significantly to a reduction in the present African digital divide.
Other products of the ICT division of TESEO are new 4G and WiMAX networking
devices, multimedia consumer products, advanced communication appliances,
and other, supporting devices to enable consumers, telecommunication
operators and service providers to deploy multi-play communication networks
in emerging markets.
TESEO is estimating to complete the fiscal year 2011 with approx. 5,7
million EUR in revenues and approx. 0,14 million EUR in net profits, and it
is forecasting in 2012 an estimate of 20,3 million EUR in revenues and
approx. 4,2 million EUR in net profits. The company has total assets of
approx. 10 million EUR.
'We believe in 3A's innovative Business model and we are ecstatic and
excited to work with 3A's experienced management team' Stated Marco
Pissarello, Chief Executive Officer of TESEO. He added: 'Our core Business
is the delivery of innovative telecommunication solutions to the emerging
markets of Africa and we deeply believe with the support of 3A Finance, we
will expedite our company's growth and become one of the major global
players in the telecommunications scene on the African continent', and
continued 'after the completion of the acquisition, TESEO will be happy to
lead and manage the Telecommunications&Networking division of 3A
Finance'.
'We definitely have an aggressive strategic acquisition plan for 2011,'
stated Antonio Galvez, Chief Executive Officer of 3A Finance. He continued:
'It is apparent that after completing the acquisition, 3A Finance will be
consolidating the financial results of TESEO into 3A's financials', and he
added: ' I am very confident to complete the due diligence process and the
acquisition within 45 days from the date of the signed LOI and I am already
happy and pleased to welcome TESEO's management team and employees into the
3A Finance Group'.
3A Finance PLC
3A Finance PLC is a holding company concentrating on the niche markets of
Africa and the Middle East. The Holding core business is to invest into
innovative companies in several sectors: Financial, Telecom&Networking,
Technology&Internet and Green Energy. The company is intending to follow
an aggressive growth scheme and is prepared to acquire strategic candidates
to enhance its inorganic growth. (Ticker symbol: 3AM, WKN: A1JFJA, ISIN:
GB00B3X7DR65).
For further information please contact:
Renzo Radice
PETRANIX Corporate and Financial Communications AG
Webereistrasse 31
8134 Adliswil
Tel: +41 44 385 80 24
Email: renzo.radice(at)PETRANIX.com
Safe Harbor Statement; under the Private Securities Litigation Reform Act
of 1995: The statements contained herein which are not historical are
forward-looking statements that are subject to risks and uncertainties that
could cause actual results to differ materially from those expressed in the
forward- looking statements, including, but not limited to, certain delays
beyond the company's control with respect to market acceptance of new
technologies or products, delays in testing and evaluation of products, and
other risks detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
End of Corporate News
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140293 26.09.2011
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Datum: 26.09.2011 - 10:00 Uhr
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