Convergence Technologies Group Incorporated Announces Acquisition Plans
STAFFORD, England–(BUSINESS WIRE)–Convergence Technologies Group Inc (Pink Sheets:CNVG - News):
In line with the corporate plan to provide a total end to end solution for all its clients, be it Government or Corporate, the over achievement of our booked sales and continued expansion of our Government contracts has allowed the board to bring forward from Quarter 1 2009 its aggressive acquisition phase.Phase one is the acquisition of a UK IT Microsoft and Cisco partner solutions provider delivering $1m revenue to the group per annum. A formal announcement on this acquisition will be released in October/November 2008. In line with this corporate expansion, Convergence Technologies Group Inc, has began negotiations for the acquisition of Global VoIP operations. The first target market is the African territory with the acquisition announcement planned for January 2009.
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words “estimate,” “project,” “intends,” “expects,” “believes,” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbour” provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Convergence Technologies Group Inc. see “Risk Factors” in the Company’s Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Contact:
Convergence Technologies Group Warren Stroud,+44 1785 272 922
www.convergencetechnologygroup.com
Source: Convergence Technologies Group Inc
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