Bioflamex (BFLX:OB) Announces The Acquisition Of Established Telecommunication Network Asset Management And Deployment Company
NEW YORK, Aug. 14, 2012 /PRNewswire/ -- Ken Bland the CEO of Bioflamex, Corp. (BFLX) (the "Company") announced today the acquisition of Terra Asset Management, Inc. (or "TAM") a Delaware corporation based in BV Tulsa Oklahoma. TAM is a network asset management company with engineers and technicians specializing in multiple facets of the design, project management and buildout of wireless networks. TAM provides an array of services for some of the largest Telecommunication, Technology and Wireless companies in the US, including such companies as Alcatel-Lucent, SBA, Crowne Castle, and Verizon.
The transaction was in the form of a stock swap through a Triangular Merger (the "Transaction") between the Company, TAM and a wholly owned special purpose subsidiary established specifically for the Transaction. Terms and conditions of the Transaction were reported in the 8-K which was filed shortly after the acquisition.
Kenneth D. Bland the recently appointed CEO and President stated, "With the acquisition of TAM we are initiating our new strategic focus of Bioflamex into the Telecommunication market focusing on the connection of the underserved rural telecommunication markets, and enhancing the public safety communications in these areas".
Bland continued, "TAMS Management team has worked closely with companies building out the 4G wireless network across America and Bioflamex intends to leverage this experience during the implementation of its new business plan. Bioflamex intends to continue to support service to TAM's existing client base as well as plans for organic growth."
