Monday, February 07, 2022 10:10:57 PM
Having a clear path to revenues would change everything here.
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 gives us an extremely durable competitive advantage.”
Recent WHEN News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 08:02:24 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 07:34:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/08/2024 08:25:54 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/20/2024 07:51:45 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/15/2024 08:00:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/11/2024 07:44:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 09:05:34 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 07:13:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/20/2023 04:15:16 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM