WHEN Group Signs Letter of Intent to Acquire CrossMobile and Secure Full MVNO License in European Union
Acquisition creates a unique, value-added IT platform for B2B/B2C markets, combining GSM, IoT, and AI technologies with cybersecurity solutions
NEW YORK, NY, Jan. 12, 2022 (GLOBE NEWSWIRE) -- World Health Energy Holdings, Inc. (OTC: WHEN) (“WHEN Group” or the “Company”), a cybersecurity company with proprietary technologies developed to protect individuals and enterprises from cybersecurity threats, announced today it signed a Letter of Intent (“LOI”) to acquire CrossMobile Sp.z o.o. (“CrossMobile”), a licensed full mobile virtual network operator (“MVNO”) in Poland.
WHEN Group CEO Giora Rosenzweig said, “The acquisition of CrossMobile will give WHEN Group a strong foothold in one of the most advanced telecomm markets in Europe. Securing a Polish full MVNO license will enable WHEN Group to service not just Poland, but the entire population of 540 million in the EU, while providing the Company the necessary infrastructure to accelerate the market launch and marketing of our proprietary cybersecurity solutions.”
According to Prescient Strategic Intelligence, the European MVNO market generated $27.7 billion revenue in 2020 and is expected to grow at a CAGR of 5.8% through 2030 when it is forecasted to reach $48.7 billion.
In addition to offering innovative cybersecurity solutions through CrossMobile, the Company plans to offer low-cost roaming, cloud IP PBX, virtual conference, SMS for business, Internet of Things (IoT), and other value-added services that provide strong competitive advantages and opportunities for rapid growth.
Under the terms of the Letter of Intent, WHEN Group will initially purchase 26% of CrossMobile with the option to ultimately acquire controlling interest.
“Acquiring CrossMobile would provide WHEN Group a formidable foundation for long-term growth with the potential to generate several hundred million dollars in annual revenues with greater than 25% margins at scale. And we could reach these considerable numbers in as little as five years,” added Rosenzweig. “The addition of our cybersecurity monitoring solutions and other next- generation services will create a truly unique value-added IT platform for the B2B and B2C markets.”
Tom Tromer, CEO of CrossMobile, added, “GSM solutions enhanced with added value services such as VoIP, IoT, and cybersecurity address many top issues in an increasingly connected world. Providing customers with affordable solutions to protect themselves on and off cyberspace gves us an extremely durable competitive advantage.”
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CrossMobile is registered as a Full Mobile Virtual Network Operator (MVNO) in Poland under the regulatory authority of the Office of Electronic Communications (UKE).
About WHEN Group
World Health Energy Holdings, Inc. (d/b/a WHEN Group) is a holding company comprised of SG 77, Inc./RNA Ltd, which develops and significantly improves existing cybersecurity solutions in the B2C and B2B marketplace. WHEN Group develops new systems by applying pattern recognition technology based on IOT / mobile / servers and computer activity, analyzing human and device behavior, relationships and BPM (Business Process Management) in order to automatically identify and prevent potential danger to individuals and companies. The B2C Cybersecurity division targets families concerned with external cyber threats and exposures in addition to monitoring a child's behavioral patterns that may alert parents to potential tragedies caused by cyberbullying, pedophiles, other predators, and depression. The B2B Cybersecurity system software development and implementation company is focused on innovative solutions for the constantly evolving cyber challenges of businesses, non-governmental organizations (NGOs) and governmental entities. By deploying a highly experienced development team, RNA Ltd. anticipates both internal and external cyber threats, by identifying behavioral patterns that flag potential cyber compromises. Additional information is available at: https://www.whengroup.com/.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates, and projections, and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, our ability to integrate the operations of the acquired entities and manage the combined entity, the success of our business plan, market reception of our products, our ability to raise the capital needed to realize our business plan and on commercially reasonable terms, our ability to retain needed personnel and our ability to compete against companies with much larger resources as well as the risks and uncertainties discussed under the heading "RISK FACTORS" in our Annual Report on Form 10-K for the year ended December 31, 2020 filed on April 15, 2021, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Dave Gentry, CEO
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