CHRON Announces Acquisition of Booming National Energy Consulting
8:00 AM ET 5/3/17 | Marketwired
DALLAS, TX--(Marketwired - May 3, 2017) - The CHRON Organization, Inc. (OTC: CHRO) announced today that the Company has entered into a Term Sheet to acquire NAUP Brokerage, LLC. NAUP is a nationally licensed, premier energy brokerage and consulting firm specializing in the brokering of electricity and natural gas for commercial, industrial, and municipal end-use customers.
CHRON Chairman, Byron Young, stated, "This is a monumental acquisition for CHRON because NAUP's services are incredibly complementary to those of our wholly-owned subsidiary, Zen Technologies. This is one of those transactions where the sum of the two parts is far greater than each could ever be individually. It is no doubt a key component for us in terms of being able to drive impressive revenues nationwide."
The Company believes that with this acquisition, Zen will be able to expand its operation and its service offering, using not only NAUP's expertise as an energy broker, but also its multiple channel sales approach to bring in new customers as it ventures more and more into the commercial services space. As a part of the CHRON portfolio, both NAUP and Zen will be able to complement one another with an entirely new suite of services that will work in the best interest of employees, customers, and shareholders alike.
"In my fifteen years of retail energy experience, I have never felt more at the forefront of an industry like I do with this acquisition. Merging our expertise and our energy desk together with Zen's Zero Cost Program and Smart Controls is certain to be a game changer for customers and for Aggregators, Brokers & Consultants among the deregulated energy landscape," said Ryan Samuel, NAUP's VP of Operations.
Zen and NAUP have been collaborating on their product lines and testing mutual service offerings over the past few months towards exploring the potential synergies between the two organizations. As a result, both companies have entered into a term sheet for acquisition and the parties hope that this transaction will officially be effective within the next few weeks.
ABOUT THE CHRON ORGANIZATION, INC. The Chron Organization, Inc. (OTC: CHRO), is an entrepreneurial-minded company founded and envisioned by Mr. Byron Young and Mr. Alex Rodriguez. The Company's purpose is to develop a portfolio of highly successful and unique wholly owned businesses by providing incubation, advisory and capital services to the same. CHRON's interests include the smart home services, Internet of Things (IOT) platforms, deregulated energy & energy efficiency offerings. To learn more about CHRON, visit the company's corporate website at www.chronorganization.com.
FORWARD-LOOKING STATEMENTS This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the company's current expectations and are subject to a number of risks, uncertainties and assumptions. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the company's filings at www.OTCMarkets.com
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