Nerds On Site announces M&A progress and grows their list of national and international partners
Nerds On Site (CSE: NERD) announces the completion of a due diligence audit for a potential acquisition of a private US technology services company. This move aims to enhance its cybersecurity and managed security services. The company also introduced NOS National Partners, a new centralized team for managing projects across Canada and the US, targeting sectors like healthcare and manufacturing. CEO Charlie Regan emphasizes the synergy between the companies involved in the acquisition process. However, there's no guarantee of completing the transaction.
- Completion of due diligence audit for a potential acquisition, enhancing growth opportunities.
- Launch of NOS National Partners, providing centralized project management and technical support.
- Opportunities for government contract services, expanding business reach.
- No certainty of closing the potential acquisition.
TORONTO, Dec. 7, 2022 /PRNewswire/ - Nerds On Site Inc. (CSE: NERD) ("NERD" or the "Company"), a Cyber Security and mobile IT solutions company servicing the small and medium enterprise (SME) marketplace in Canada and the USA, is pleased to announce the completion of the due diligence audit of an acquisition target and the launch of NOS National Partners – a central corporate services team.
In preparing for the next phase of their business evolution, Nerds On Site (NERDs) recently completed a lengthy due diligence audit of a private USA company. This firm provides contract technology services to state and local governments across several American states. Commenting on this process and what it means for NERDs future, CEO, Charlie Regan explains, "Both our leadership teams have become quite well acquainted during this 30 plus month process, and our cultures are remarkably similar and aligned. The combined talent and services synergies on the cyber security, managed security services and expanded government contract opportunities are substantial and game changing for NERDs."
The parties intend to move to the next step of negotiating a definitive agreement. There is no certainty that we will be able to close this transaction.
This FY23 (year-end May 31), NERDs introduced a new centralized corporate team dedicated to managing multi-location and hard-to-define projects for organizations throughout Canada and the United States. Named NOS National Projects, it provides end-to-end project management services for organizations requiring on-site technical support and services at multiple locations across the US and/or Canada. NOS National Projects team process provides a centralized project management team that handles scope discovery, project setup, workflow creation, a network of subcontractors throughout North America, technician communications, problem resolution and final report delivery on a wide range of projects such Clients require. Since inception the NOS National Partner team has completed a wide range of projects throughout both countries for Clients in the law, healthcare, retail, manufacturing and entertainment industries, to name a few.
A leading provider of cyber security and IT services to SME and corporate Clients in North America.
Established in 1995 and serving Clients across the USA and Canada for decades, Nerds On Site stands out as one of the most highly regarded and reputable IT service organizations of its kind. The NERDs team is a collegial network of cyber security and technology experts and strategic partners across North America. Their ability to liberate Clients with technology solutions that optimize organizations and exceed expectations are the stand-out results Nerds On Site regularly delivers as Client testimonials reflect - (reviews.nerdsonsite.com).
Certain information set forth in this material may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Nerds On Site Inc.
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