AudioMonster Online Inc. has signed a definitive share purchase agreement to acquire 100 percent of the outstanding shares of ADS Technologies Inc. of Tempe, AZ. The transaction is expected to close by September 30 or earlier, based on AudioMonster executing various terms in the agreement. Kurien Jacob, CEO of ADST will assume responsibility for operation of the group. Greg Corcoran, president of AudioMonster will focus on executing on the Web-based music label strategy for AudioMonster.
ADST's Web-based strategy will focus on linking the consumer to specialty retailers. The products manufactured by a/d/s, Precision Power and Orion depend on the installation skills of professional installers provided by independent retailers.
The AudioMonster transaction will provide ADST with the ability to further its consolidation strategy already in progress.
This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements".
Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "should", or "might" occur.
Link for more info: www.audiomonster.net
