NEW YORK, NY, Sept. 06, 2024 (GLOBE NEWSWIRE) — Accredited Solutions, Inc. (OTC: ASII) (“Accredited Solutions” or the “Company”), the parent company of Diamond Creek Water, is excited to announce the execution of an Indication of Interest (“IOI”) letter for the acquisition of a leading US-based B2B distributor of third party e-gift cards. This target company (“Target”) generated $33.7 million in sales in 2023 and is on track for a 2024 revenue run-rate of $42.5 million and is profitable on a net income basis.
The potential acquisition aligns with Accredited Solutions’ growth strategy, which includes synergistic opportunities to accelerate target’s growth through the injection of additional capital and resources. By integrating the marketing and administrative functions of both companies and leveraging cross-selling opportunities with future Accredited Solutions acquisitions, the combined company is poised to scale rapidly. Furthermore, Accredited Solutions plans to develop new products and APIs to enable the target’s integration with other fintech companies and entry into new international markets.
“We are thrilled by the prospects of this acquisition and the synergistic growth potential that brings to the table,” said Eduardo Brito, CEO of Accredited Solutions, Inc. “The combination of Accredited Solutions’ resources and the target’s established presence in the fintech space provides an exciting opportunity to drive significant growth and value. While we remain prudent in our projections, we are confident that this acquisition will unlock new avenues of expansion and accelerate our 5-year growth plan.”
Path to Closing
While Accredited Solutions is very pleased with the information received about the target to date, the transaction will advance to a more binding Letter of Intent (“LOI”) once the Company confirms its ability to complete a timely audit. After the audit is finalized, Accredited Solutions expects to move towards closing under the terms established in the LOI.
The Company anticipates a smooth process and is optimistic in the viability of the deal and is well-positioned to finalize it. Until the audit is nearing completion, the viability of closing the transaction remains under careful evaluation, but the Company’s outlook remains very positive.
Please, refer to 8K being filed this morning on the details of the IOI.
Relevant Links:
Safe Harbor Statement:
Statements in this news release may be “forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business, based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and the company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
Accredited Solutions, Inc. Contact:
info@diamondcreekwater.com
Follow Us on:
X (Twitter): @asii_Inc
Source:
Accredited Solutions, Inc.
https://www.diamondcreekwater.com
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