Byzen Digital Inc. Completes Sale of UK Blockchain Subsidiary, Telecoin, to XALPHA Technologies Inc.
Posted by: Nasdaq NewsFeed in Top News 29 mins ago
NEW YORK, NY, Nov. 15, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Byzen Digital Inc. (OTC PINK: BYZN), a technology M&A company, today announced that it has concluded the sale of its UK subsidiary, Telecoin, to XALPHA Technologies Inc. The sale price was 16 million Byzen shares.
The transaction will free Byzen Digital from Telecoin’s multi-solution blockchain platform, and pave the way for Byzen to embark on its planned mergers and acquisitions campaign with companies in the wider technology space.
Commenting on the transaction, Byzen Digital CEO Chris Percy stated, “Given Byzen’s current strategy, the Board of Directors and management believes that the divesture of Telecoin will give us an open playing field for engagement with other blockchain players as we explore opportunities in the broader technology sphere.”
“By bringing 16 million shares back into the company treasury, this deal will benefit both Byzen Digital shareholders and the Telecoin organisation, which will continue to develop under XALPHA Technologies’ ownership. We will now be able to cement those new relationships and move on with some very significant partnerships and acquisitions,” concluded Mr. Percy.
About Byzen Digital Inc.
Byzen Digital is a high-growth organization focused on mergers and acquisitions in the technology sector. Originally set up to service the growing blockchain sector, Byzen’s scope has quickly grown beyond its initial focus to incorporate start-ups and small and medium-sized enterprises (SMEs) from the wider tech arena including cybersecurity, data storage, cloud-tech, analytics, software and digital applications.
The Byzen family provides vital strategic insight, global funding access and a robust corporate structure to support its incorporated ventures in positioning concepts for global success. For more information go to: www.byzendigital.com
