Eco-Shift Power Corp. (fka ECOP)

[fast.money]

$ECOP Huge News Out! $ECOP is increasing in shareholder value with growth through acquisition! Eco-Shift Power Corp. Completes Acquisition of Sun Industries

http://finance.yahoo.com/news/eco-shift-power-corp-completes-110000617.html

CAMBRIDGE, ON--(Marketwired - October 22, 2014) - Eco-Shift Power Corp. (ECOP) today announced the milestone acquisition of California-based Sun & Sun Industries Inc. dba Sun Industries ("Sun"). The definitive Share Purchase and Exchange Agreement (the "Agreement") closed on October 20th, 2014 and has resulted in ECOP acquiring 100% of the issued and outstanding common stock of Sun and the cancellation of all outstanding Sun Preferred Stock.

Highlights for ECOP Shareholders

• ECOP gains a substantial annual revenue stream and significant market share in California as well as other high-growth multi-billion dollar US markets. Sun has completed over 700 projects in 30 states.
• ECOP gains a national OEM Distribution Channel for ECOP's proprietary technologies. By utilizing Sun's trusted reputation and well established network of national distributors, there will be a quicker market penetration and scale-up of revenues from ECOP's proprietary technologies.
• As a manufacturer, ECOP will be able to earn better margins by plugging directly into end-users via Sun's core business as well as increasing the profitability of Sun's successful lighting retrofit business.
• ECOP will be able to generate ongoing revenue from Sun's core lighting retrofit business with its Radium Light Management System which will operate under a Software-as-a-Service (SaaS) model for providing Demand Management and Demand Response services in addition to wireless lighting controls.
• ECOP's access to public market financing is anticipated to add $3-5M to Sun's pre-acquisition revenue forecast of $13.7M for 2015 by providing increased bonding capacity needed to access the $2 Billion in California's Proposition 39 funding.
• ECOP's leading edge proprietary technology aligns perfectly with California's Title 24 Regulatory changes that require lighting control systems that are demand response ready for all new commercial and industrial facilities.
• Sun's abilities to manage very large and complex lighting retrofit projects will expand ECOP's reach within Ontario and to key eastern states like New York.
• ECOP gains a world class executive team and project management approach that continuously delivers excellent results for big name clients. Project examples for 2014 include Santa Ana College ($1.1 million), JC Penny ($0.6 million), US Banks -- Arkansas portion of national roll-out ($0.3 million), and The Army & Air Force Exchange Service ($0.3 million). Sun has an impressive client roster of past and repeat customers including Google, JC Penny, Sears, Best Buy, Starbucks, Coca-Cola, Hewlett Packard, the Federal Aviation Administration and the Navy Exchange among many others.