DLT Resolution Inc., an information technology, cybersecurity, and telecommunications company, is pleased to announce the signing of a binding agreement to acquire Union Strategies Inc. of Ontario Canada.
The acquisition is expected to close in the coming weeks and will immediately add approximately $3,000,000 CDN in revenues to DLT Resolution.
The all stock purchase will see DLT Resolution issuing a 1,500,000 shares of its common stock on closing and another 1,000,000 upon Union Strategies hitting approximately 10% growth in the coming year with positive EBITDA of no less than $75,000.00. The shares will be issued under an exemption from registration and will contain substantial resale restrictions. The transaction will cause Union Strategies to become a wholly owned subsidiary of DLT Resolution.
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Commenting on the transaction, John S. Wilkes, President of DLT Resolution, stated: “I am impressed by the leadership of Union Strategies and we feel that we should see tremendous synergies between the two companies.” Commenting further, “With Union Strategies clients representing more than 450,000 members in Canada alone, the complementary services and cross selling potential could be substantial for both companies.”
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Union Strategies President and CEO Fred Vecchio commented: “I am excited about the huge opportunity we have with DLT and look forward to collaborating with John and his team. We as a team bring together two highly complementary businesses, allowing each to continue building on its existing business while enabling the combined company to better serve its global customer base. We operate in a dynamic industry, in which greater scale, global reach and stronger balance sheets will enhance our ability to meet the evolving requirements of our customers and create a significant opportunity to generate long term value for all of our stakeholders.”
Management will announce updates on closing through press releases and its SEC filings.
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