Novation Holdings (ALZM) Announces Second Acquisition; Roll-up Strategy
(Marketwire Via Acquire Media NewsEdge) BOCA RATON, FLORIDA -- (Marketwire) -- 12/12/12 --
Novation Holdings (OTCBB: ALZM) today announced that it has acquired Burgoyne Internet Services, LLC, a profitable Internet service provider based in Utah. The transaction was completed on December 6, 2012, with an effective date for accounting purposes of November 30, 2012. In addition to the acquisition of Burgoyne, the selling group also agreed to provide working capital to Novation.
Burgoyne provides Internet access, emails, and related services to customers throughout the United States, primarily in areas where high speed cable and other high speed Internet access services are not readily available. Its web site is at www.burgoyne.com.
Michael Gelmon, Chairman and CEO of Novation, stated, "We are excited about the potential of this acquisition and plan acquisitions of other regional ISP companies in a national roll-up strategy. We have already identified 5 other regional ISP companies for sale and believe that, with the added infrastructure provided by Novation, the existing operating success can grow and add to the bottom line for Novation."
FORWARD LOOKING STATEMENT
Certain statements contained herein and subsequent oral statements made by and on behalf of Novation Holdings, Inc. may contain "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and includes, without limitation, statements regarding Novation Holdings, Inc.'s plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Also, our management may make forward-looking statements orally to investors, analysts, the media and others. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on our future results. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company undertakes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. The Company's SEC filings are available at http://www.sec.gov.
Novation Holdings, Inc.
Source: Novation Holdings, Inc.
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