(NUBL) NuMobile, Inc. and (CCTR) China Crescent Enterprises, Inc. Enter Merger and Acquisition Negotiations
26 April 2011 - 6:42PM
Marketwired
NuMobile, Inc. (PINKSHEETS: NUBL) and China Crescent Enterprises,
Inc. (PINKSHEETS: CCTR) today announced the companies have entered
into negotiations intended to structure terms whereby NuMobile
would acquire a subsidiary operation from China Crescent. The
target China Crescent subsidiary provides original design and
manufacturing services primarily within the mobile communication
market sector. The subsidiary contributed approximately $22 million
in sales to China Crescent's overall $78 million in revenue
reported for 2010. The China Crescent subsidiary is located in
Shenzhen, China. Negotiations between the two companies commenced
last week in a Hong Kong. Currently, the two companies expect to
complete a letter of intent agreement outlining the primary terms
for NuMobile to acquire the China Crescent Shenzhen subsidiary.
About China Crescent Enterprises, Inc.
(www.chinacrescent.com) China Crescent (PINKSHEETS: CCTR) is a systems
integration service provider that markets technology outsourcing
services in China including the sale and service of brand name
technologies such as Microsoft, Cisco, IBM, HP and Dell. Following
a strategic acquisition in 2009, the Company expanded its business
line to include original design manufacturing (ODM). Headquartered
in Dallas with operations in China, China Crescent reported $78
million in revenue in 2010.
About NuMobile, Inc. (www.numobileinc.com) NuMobile
(PINKSHEETS: NUBL) is building a portfolio of security and software
solutions for the global mobile computing and smartphone market.
Through a roll-up strategy, NuMobile plans to acquire and develop
mobile computing solutions for a variety of applications, including
mobile banking, for the global marketplace. The demand for mobile
security and software applications is being driven in large part by
the growing number of mobile phone sales into emerging economies
that currently do not have substantial access to the Internet via
desktop computing. Already in North America, the Company has also
forged a partnership in the Chinese market and is developing a plan
for the emerging economies of Latin America and East Africa.
NuMobile is a SEC fully-reporting public company trading on the OTC
Markets Group, Inc.'s OTCQB market tier.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 This press release contains forward-looking
statements that involve risks and uncertainties. The statements in
this release are forward-looking statements that are made pursuant
to safe harbor provision of the Private Securities Litigation
Reform Act of 1995. Actual results, events and performance could
vary materially from those contemplated by these forward-looking
statements. These statements involve known and unknown risks and
uncertainties, which may cause NuMobile's or China Crescent's
actual results in future periods to differ materially from results
expressed or implied by forward-looking statements. These risks and
uncertainties include, among other things, product demand and
market competition. You should independently investigate and fully
understand all risks before making investment decisions.
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