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San Francisco, Feb 9, 2022 - (ACN Newswire) - Wikisoft Corp. (the "Company," "we," and "our") (OTCQB: WSFT) today announced that it has entered into a non-binding letter of intent to acquire a majority stake in Etheralabs LLC, a New York City based venture lab and ecosystem that invests in, builds, and deploys disruptive technologies across the Blockchain space.
The proposed transaction would include full global access to Etheralabs LLC's disruptive technologies across the Blockchain and global funding landscape. With the majority stake, Wikisoft plans to ensure that Etheralabs future product and technology roadmap supports Wikisoft's platform strategy. The parties intend to enter into a binding agreement after consultation with their respective legal counsel. Wikisoft Corp. plan to fund the acquisition with equity, thus providing the Company the optimum financial flexibility in the future. Wikisoft's Board of Directors has given a commitment to approve the transaction.
Carsten Kjems Falk, Chief Executive Officer of Wikisoft Corp. said, "Etheralabs LLC's disruptive technology and products are expected to provide an outstanding opportunity to expand Wikisoft's global reach with superior technology and high value-add products. This includes but is not limited to the blockchain technology for the upcoming wikifunding platform enabling startups to connect to the blockchain community, investors and venture capital. Furthermore, the AmpliFi press release distribution service is expected to be accessible to the 90 million businesses now held in the Wikisoft database, providing global reach to any of those companies. Our greater scale, broader product offering and geographic exposure should accelerate our growth and provide greater earnings diversity." The Company expects the proposed transaction to be accretive to earnings realized over the two years following the acquisition.
Bryan Feinberg, CEO and Founder of Etheralabs said, "Wikisoft's capabilities coupled with our background in transforming large data ecosystems into vibrant communities creates a definitive way to leverage our background to accelerate Wikisoft's entry into the global blockchain market and look forward to our ability to leverage Wikisoft's unique architecture and data environment into an active and vibrant venture community."
About Etheralabs LLC
Etheralabs is New York City based venture lab and ecosystem that invests in, builds, and deploys disruptive technologies across the Blockchain landscape. Etheralabs fast-tracks ideas into solutions that help high-growth companies with a focus on capital appreciation and scale via early-stage identification and accelerated resource deployment. The acceleration model lays the foundation for taking promising IP from both concept to company and from revenue to profitability, culminating in a fully functioning portfolio venture that is ready to attract follow-on funding, an acquisition partner, or to operate as a standalone company.
More information can be found at: https://etheralabs.io
About Wikisoft Corporation
In today's fast-moving business world of increasing globalization, Wikisoft leverages big data and associated insights from business datasets to improve performance.
In line with this new phase of globalization, Wikisoft believes that there is a growing demand for access to credible and reliable business data. Data is essential to creating the complete view of customers, prospects, investors, suppliers, and partners necessary to power the right decisions.
Our vision is to create opportunity globally by collecting precise data, curating it, verifying it and putting it in the hands of professionals and businesses as consumable business intelligence. We believe in the power of Wikisoft to collect massive amounts of data and deliver it to businesses curated, credible and reliable.
CONTACT:
WikiSoft Corp.
315 Montgomery Street, San Francisco,
CA 94104, USA
Phone: +1-800-706-0806
Email: investor@wikisoft.com
Investor site: www.wikisoft.com
SOURCE: WikiSoft Corp.
FORWARD-LOOKING STATEMENTS
This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
Topic: Press release summary
Source: Wikisoft Corp. / Etheralabs LLC
Sectors: Blockchain Technology, PE, VC & Alternatives, Digitalization, Startups
https://www.acnnewswire.com
From the Asia Corporate News Network
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