World Health Energy Holdings Inc (WHEN)

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WHEN Group Completes Acquisition of Stake in CrossMobile
9:45 AM ET 6/30/22 | GlobeNewswire

WHEN Group Completes Acquisition of Stake in CrossMobile

Prepares for Rollout of Value-Added Services Across the European Market

NEW YORK, NY, June 30, 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 has completed the acquisition of an initial 26% of CrossMobile Sp.z o.o. ("CrossMobile"), a licensed mobile virtual network operator ("MVNO") in Poland, providing the necessary licenses and key infrastructure to service the entire population of 540 million in the EU. The Company has the option to ultimately acquire controlling interest in CrossMobile.

"The acquisition of CrossMobile is a major milestone in the evolution of WHEN Group and provides us with a strong foothold in the European market, " said WHEN Group CEO Giora Rosenzweig. "We now join a small, rarified group of licensed operators in the EU, giving us a formidable foundation from which we can generate significant long-term growth as we launch a comprehensive suite of value-added services for B2B and B2C customers and participate in the transformation of the future of the telecom industry."

The global mobile value-added services market is expected to reach $309 billion by 2025, growing at a CAGR of 15.3%, according to data from Market Research Future.

"WHEN Group's acquisition of CrossMobile marks the beginning of a new standard of service in telecom," added Tom Tromer, CEO of CrossMobile. "Together we plan to invest in the technologies of tomorrow that enable us to deliver flexible, scalable and repeatable solutions that meet the demanding and ever-changing needs of customers, from medium size enterprises to individual consumers."

"Unlike large legacy operators, we have the agility to quickly capitalize on new opportunities," continued Rosenzweig. "Our ability to address changing market demands provides a distinct competitive advantage. Combining this advantage with our unparalleled cybersecurity solutions and other next-generation value-added services place us in a great position to scale operations. I fully believe successfully executing on this strategy can generate several hundred million dollars in annual revenues with greater than 25% margins at scale."

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About CrossMobile

CrossMobile is registered as a Full Mobile Virtual Network Operator (MVNO) in Poland under the regulatory authority of the Office of Electronic Communications (UKE).