Beyond Commerce Executes Definitive Agreement to Acquire Electric Built

Rhea-AI Summary

Beyond Commerce has signed a definitive agreement to acquire Electric Built, expected to close by September 20, 2022. This acquisition aims to enhance Beyond Commerce's expertise in the electric vehicle sector, providing exclusive access to Electric Built's business connections and operations. The deal also includes rights to acquire additional assets from Electric Built's owner. CEO Geordan Pursglove emphasized the strategic importance of this acquisition in light of the growing electrification of vehicles.

Positive

• Acquisition enhances expertise in the electric vehicle sector.
• Gives exclusive access to Electric Built's business connections.
• Potential for additional asset acquisitions from Electric Built's owner.

Negative

• None.

Expected to Close by September 20

LAS VEGAS, NV / ACCESSWIRE / July 13, 2022 / Beyond Commerce, Inc. (OTC PINK:BYOC) (the "Company"), a provider of B2B internet marketing analytics, technologies and services, is pleased to announce the signing of a definitive agreement to acquire Electric Built, headquartered in Inglewood, California.

The acquisition, initially announced as a Letter of Intent on April 12, provides Beyond Commerce exclusive access to Electric Built's commercial business know-how and business connections and operations.

The acquisition is expected to close by September 20, 2022, pending employment agreements, defined milestones, and options to acquire additional assets, such as Beyond Commerce being given right of first refusal to purchase the assets, IP and all other assorted property of Electric Built's owner including Electrogistics, Inc. and other affiliated companies.

Geordan Pursglove, Beyond Commerce's Chief Executive Officer, stated, "Electric Built further expands our expertise and operations in electric vehicles. We are thrilled to be improving our position in the industry as the emergence of the electrification of vehicles becomes more and more of a reality with each passing month. We are excited to be welcoming Remo Weber as part of our team at Beyond Commerce."

For additional information on Electric Built, please visit: http://www.electricbuilt.com.

About Beyond Commerce,Inc.

Beyond Commerce, Inc. (OTC PINK:BYOC) is focused on business combinations of "big data" companies in global B2B internet marketing analytics, technologies and services. The Company's objective is to develop and deploy disruptive strategic software technology that will build on organic growth potential and to exploit cross-selling opportunities. Beyond Commerce plans to offer a cohesive global digital product and services platform to provide clients with a single point of contact for their big data, marketing and related sales initiatives. For additional information, please visit: https://beyondcommerceinc.com and https://www.service800.com.

Twitter: @incbyoc
Facebook: fb.me/incbyoc

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the "safe harbor" created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "design," "estimate," "except," "forecast," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," or the negatives or other tense of such terms and other similar expressions intended to identify forward-looking statements and similar expressions. We use forward-looking statements relate to future events or future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels or activity, performance or achievements expressed or implied by these forward-looking statements.

Contact Information:

investors@beyondcommerceinc.com
P:702-675-8022
ClearThink
nyc@clearthink.capital

SOURCE: Beyond Commerce, Inc.

View source version on accesswire.com:
https://www.accesswire.com/708337/Beyond-Commerce-Executes-Definitive-Agreement-to-Acquire-Electric-Built

FAQ

What is the significance of the acquisition of Electric Built by Beyond Commerce?

The acquisition enhances Beyond Commerce's expertise and operations in the growing electric vehicle market.

When is the acquisition of Electric Built expected to close?

The acquisition is expected to close by September 20, 2022.

What are the expected benefits of the Electric Built acquisition for Beyond Commerce?

The acquisition provides exclusive access to Electric Built's business connections and operations, potentially leading to market expansion.

What rights does Beyond Commerce have concerning Electric Built's additional assets?

Beyond Commerce has the right of first refusal to purchase additional assets from Electric Built's owner.

Who is the CEO of Beyond Commerce, and what did he say about the acquisition?

CEO Geordan Pursglove expressed excitement about the acquisition, emphasizing its importance in the electric vehicle sector.