Armourglass Ltd. expects to complete the acquisition of application service provider (ASP) Target Company by the end of August after deciding to move ahead with the due diligence.
The Target Company …
Armourglass Ltd. expects to complete the acquisition of application service provider (ASP) Target Company by the end of August after deciding to move ahead with the due diligence. The Target Company has UK-developed proprietary software that could web-enable business to business transactions (B2B) for companies involved in the distribution of multiple products. Armourglass said that as an ASP with its own secure server farm and an e-commerce engine that supports B2B and business to business to consumer B2B2C processes, the Target Company is ready and able to provide rapid implementation of its Web enabled applications for various industries. It will derive revenue from software sales, licence fees, business to business IT consultancy and from transactions from each client using its software. The Target Company has commenced operations in the UK, Singapore and Malaysia using its software to initially focus on the automotive spare parts industry. Marketing efforts for Australia, the ASEAN countries and Central Eastern Europe, including Germany, are in progress and will be out soon.