COMMERCE, Mich., Sept. 21, 2015 /PRNewswire/
iTeknik Holding Corporation (OTC Pink:ITKH), announced today that it has entered into a Letter of Intent to acquire privately held NSync Services, Inc. (“NSI”) of Grand Prairie, TX for a cash and stock consideration. The transaction is non-binding and subject to successful due diligence, definitive agreements and iTeknik securing new investment on or before the closing of the intended transaction.
Established in 1998, NSI is a Texas based company, specializing in the distribution and implementation of state-of-the-art, data networking and telecommunications technology to both corporate and government customers nationwide. Key products and services delivered by NSI are the design, implementation, and maintenance of Local and Wide Area Networks (LAN/WAN), mobile computing/wireless LANs, Distributed Antenna Systems (DAS), video teleconferencing and phone systems supply and integration. NSI is projecting approximately $7 million in Revenues for FY 2015.
Greg Wright, President of NSync Services, Inc., commented, “Prospects for growing our business are excellent. We were looking for a partner to help us get our business to the next level. We are excited to become part of iTeknik and work with its management team.”
Fredrick W. Wicks, Chairman and CEO of iTeknik Holding Corporation, stated, “This is very exciting time for iTeknik as we see the first acquisition under our new growth strategy. NSI is operationally profitable with a brand that is well-known and respected in its industry. Its personnel are extremely knowledgeable in their area of expertise with a combined experience of over 60 years. Customers include sections of the U.S. Navy and the State of Texas DIR. We expect that NSI will bring profitable revenues to ITKH and operations in a new market. We look forward to working with Greg and his team to help grow NSI in the years ahead.”
iTeknik Holding Corporation (OTC Pink:ITKH) is classified as “Current Information” and trades on the OTC Pink tier of the OTC Market. For quotes and market information on the company, visit http://www.otcmarkets.com/stock/ITKH/company-info.
About iTeknik Holding Corporation:
iTeknik was founded in 2007. iTeknik’s strategy is to grow through acquisition and merger. iTeknik seeks to acquire successful mature companies as well as incubate new start-up ventures. Through its Send Global subsidiary, iTeknik provides wholesale and retail telecommunications services, and products worldwide. Its services include voice over Internet protocol origination and termination; A-Z routing and switching; and wholesale carrier routing services; Web-based reseller solutions; prepaid calling solutions; international cellular calling; and retail point of sale solutions. The company serves B2B carriers, telecom resellers, retail outlets and consumers through websites such as www.idirectdial.com, www.GreatMinutes.com, www.AloBilady.com, www.IndiaMinutes.com and www.MexicoMinutes.com.
For more information visit website: www.iteknik.com
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