News
NEW YORK, NY , Feb. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Byzen Digital Inc. (OTC PINK: BYZN), a technology mergers and acquisitions company, today entered into a binding letter of intent to acquire Fortune8 Technologies, a technology specialist which brings innovative Chinese products to the UK and European retail market.
The deal paves way for future Byzen Digital acquisitions to source technology hardware from China at a competitive price point, and opens access to the lucrative Asia - Europe consumer technology import market. The purchase is part of Byzen Digital’s intensive M&A campaign, which is expected to result in a minimum of one announced deal per financial quarter during 2019 and 2020.
Byzen Digital CCO Chris Percy commented, “We are very excited about the purchase of Fortune8 Technologies, our first acquisition under the Axiom Partnership . The addition of this company into Byzen Digital’s portfolio affords us a host of competitive advantages in dealing with the Chinese and Asian markets. Our discussions have already opened a wealth of valuable connections in Asia , and we believe that the importation of Chinese innovative technology to the UK and Europe will be a significant revenue generator for Byzen Digital.”
Fortune8 Technologies is one of several target companies undergoing due diligence by Byzen Digital and its strategic investment partner, The Axiom Partnership. The Axiom Partnership has pledged up to $10.0 million of financial support to Byzen Digital for the completion of acquisitions over the next two years. The Axiom Partnership is to offer commercial and strategic support with the purchase of Fortune8 as part of the two companies plans to develop a global portfolio of profitable emerging and disruptive technology companies.
