VERB Engages Truist Securities to Advance its Acquisition Strategy
Verb Technology Company (Nasdaq: VERB) announced on August 24, 2021, that it has engaged Truist Securities to advise on its growth through acquisition strategy. CEO Rory J. Cutaia emphasized the importance of this initiative for accelerating revenue and enhancing shareholder value. The company's SaaS platform leverages interactive video technology for various applications like CRM and eCommerce, serving clients in over 60 countries. However, there are no binding commitments for any transaction at this stage, and the company cannot guarantee that any potential acquisition will enhance stockholder value.
- Engagement of Truist Securities for strategic acquisition advice.
- Potentially accretive acquisition opportunities identified to enhance revenue growth.
- No binding commitments for any transactions currently exist.
- Uncertainty regarding whether future acquisitions will enhance shareholder value.
NEWPORT BEACH, Calif. and SALT LAKE CITY, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company"), the leader in interactive video-based sales enablement applications, including interactive livestream eCommerce, webinar, CRM and marketing applications for entrepreneurs and enterprises, today announced that it has engaged Truist Securities, Inc. to advise the Company in connection with the execution of its growth through acquisition strategy.
“As I mentioned on our August 16, 2021 earnings call, our growth plans and initiatives are multi-faceted and include the ongoing evaluation of several potentially accretive acquisition opportunities that can accelerate VERB’s revenue growth and value creation,” said Rory J. Cutaia, CEO of VERB. “We have engaged Truist Securities in connection with one of those opportunities. Truist Securities has a deep bench of professionals with proven industry knowledge, and we are confident we will receive the best strategic and transactional advice as we continue to execute this facet of our growth plans to create value for our shareholders.”
About VERB
Verb Technology Company, Inc. (Nasdaq: VERB) transforms how businesses attract and engage customers. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and comprises a suite of sales enablement business software products offered on a subscription basis. Its software applications are available in over 60 countries and in more than 48 languages to large enterprise and small business sales teams that need affordable, easy-to-use, and quick-to-get-results sales tools. Available in both mobile and desktop versions, the applications are offered as a fully integrated suite, as well as on a standalone basis, and include verbCRM (Customer Relationship Management application), verbLIVE (Interactive Livestream eCommerce and Video Webinar application), verbTEAMS (a Self On-boarding version of verbCRM with built-in verbLIVE and Salesforce synchronization for small businesses and solo entrepreneurs), verbLEARN (Learning Management System application), and verbMAIL (an interactive video mail solution integrated seamlessly into Microsoft Outlook). The Company has offices in California and Utah. For more information, please visit: www.verb.tech.
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FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “anticipate,” “expect,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements contained in this press release relate to, among other things, the Company's projected financial performance and operating results, including SaaS Recurring Revenue, as well as statements regarding the Company's progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
There are currently no binding commitments with respect to any transaction for which Truist Securities has been engaged as our financial advisor. The Company cannot provide any assurance that a transaction will occur or that, if a transaction does occur, it will enhance stockholder value. The Company does not intend to disclose developments regarding its consideration of potential strategic transactions or alternatives unless a material definitive agreement for a specific transaction is entered into, or the Company otherwise determines further disclosure is appropriate or required by applicable law or Nasdaq listing standards.
Investor Relations:
888.504.9929
investors@verb.tech
Media Contact:
855.250.2300, ext.107
info@verb.tech
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