FOMO CORP. OFFICIALLY ACQUIRES SMARTSOLUTION TECHNOLOGY.
FOMO CORP. has officially acquired SMARTSolution Technologies as of Feb. 28, 2022, finalizing all required documentation. CEO Vik Grover expressed optimism about new opportunities arising from this agreement, while SST CEO Mitchell Schwartz highlighted the potential to expand their audiovisual business nationally. FOMO CORP. focuses on incubating and accelerating businesses, providing them access to public markets for growth capital. The acquisition is expected to enhance market reach, although FOMO's future success remains uncertain due to potential risks and financing challenges.
- Acquisition of SMARTSolution Technologies expands FOMO's business portfolio in the audiovisual industry.
- Potential for national expansion and increased market reach with SST's established business model.
- Future success is uncertain, hinging on securing adequate financing.
- Risks associated with integration and potential realization of additional acquisitions.
Chicago, IL, Feb. 28, 2022 (GLOBE NEWSWIRE) -- FOMO CORP. (https://www.fomoworldwide.com/ - US OTC: FOMC) IT'S OFFICIAL!!! After many months of anticipation, FOMO CORP. is very excited to announce the acquisition of SMARTSolution Technologies as all closing and funding documents were officially signed today. We are pleased to officially welcome SST to the FOMO Family and we are thrilled about what the future holds for us all!
Vik Grover, CEO of FOMO CORP. said, “FOMO is looking forward to this next chapter, and I believe in my people. New things are on the horizon and it’s breakaway time.”
Mitchell Schwartz, CEO of SST, said, “We are proud to be part of the FOMO family. With our successful, cookie-cutter business method in the audiovisual market, we can now expand and broaden our horizons throughout the country.”
About FOMO CORP.
FOMO CORP. is a publicly traded company focused on business incubation and acceleration. The Company invests in and advises emerging companies aligned with a growth mandate. FOMO is developing direct investment and affiliations - majority- and minority-owned as well as in joint venture formats - that afford targets access to the public markets for expansion capital as well as spin-out options to become their own stand-alone public companies.
About SST
SMARTSolutions Technologies is a Pittsburgh based audio visual systems integration company that customizes presentation, teleconferencing and data conferencing systems for meetings, presentations, and instruction. SST has been in business since 1996.
Forward Looking Statements:
Statements in this press release about our future expectations, including without limitation, the likelihood that FOMO CORP. will be able to meet minimum sales expectations, be successful and profitable in the market, bring significant value to FOMO CORP.’s stockholders, and leverage capital markets to execute its growth strategy, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law. FOMO’s business strategy described in this press release is subject to innumerable risks, most significantly, whether the Company is successful in securing adequate financing. Additionally, although the Company has announced letters of intent to acquire additional companies, there is absolutely no assurances that any such transactions will result in a completed acquisition. No information in this press release should be construed in any form, shape, or manner as an indication of the Company’s future revenues, financial condition, or stock price.
Contact:
FOMO CORP.
Madison Ryan
VP Investor Relations
(386) 287-6950
ir@fomoworldwide.com
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FAQ
What is the significance of the FOMO CORP. acquisition of SMARTSolution Technologies?
What are the expected benefits of the acquisition for FOMO CORP. stockholders?
When was the FOMO CORP. acquisition of SMARTSolution Technologies finalized?
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What is FOMO CORP.'s business focus after acquiring SST?
