Wikisoft Corp. Acquires Blockchain Tech Company - Etheralabs LLC

Rhea-AI Summary

Wikisoft Corp. (OTCQB:WSFT) has announced a definitive agreement to acquire a 51% stake in Ethalabs LLC, a New York City venture lab focused on blockchain technologies. The acquisition will be financed through equity, ensuring financial flexibility for Wikisoft. This deal grants Wikisoft global access to Etheralabs' technologies and aims to enhance its upcoming Wikifunding platform, connecting startups with investors. The company anticipates that the transaction will be accretive to earnings over the next two years.

Positive

• Acquisition of 51% of Etheralabs enhances Wikisoft's blockchain capabilities.
• Access to Etheralabs' technology and global funding landscape promotes growth.
• The deal supports the launch of the Wikifunding platform, aiding startup investments.
• Transaction expected to be accretive to earnings in the next two years.

Negative

• None.

SAN FRANCISCO, CA / ACCESSWIRE / March 1, 2022 / Wikisoft Corp. (the "Company," "we," and "our") (OTCQB:WSFT) today announced that it has entered into a definitive agreement to acquire 51% of Etheralabs LLC a New York City based venture lab and ecosystem that invests in, builds, and deploys disruptive technologies across the Blockchain space. Wikisoft is using equity to fund the acquisition, thus providing the Company the optimum financial flexibility in the future.

The transaction includes a global access to Etheralabs full stack of technologies across the Blockchain and global funding landscape. Etheralabs ecosystem allows development and finance partnerships throughout the blockchain world and beyond, and connects the blockchain community, investors and venture capital to relevant data intelligence and direct investment opportunities. With the majority stake, Wikisoft intends to ensure that Etheralabs future product and technology roadmap supports Wikisoft´s platform strategy including the upcoming Wikifunding site aiming to accelerate matching investors to startups.

Carsten Kjems Falk, Chief Executive Officer of Wikisoft Corp. said, "Etheralabs LLC's disruptive Blockchain technology and products provide an outstanding opportunity to expand Wikisoft's global reach with superior technology and venture accelerators. Our upcoming Wikifunding platform enabling startups to connect to the Blockchain community, investors and venture capital will have resources for ventures that are ready to attract follow-on funding and investors will have an efficient way of finding prospects and making the right investments. Short term the off-the-shelf products like a full press release distribution service will be accessible to the 90 million businesses now held in our database. We anticipate that Wikisoft's global reach and data resources will accelerate our growth and provide greater earnings diversity." The Company expects the proposed transaction to be accretive to earnings realized over the two years following the acquisition.

Bryan Feinberg, CEO and Founder of Etheralabs commented: "Wikisoft's capabilities coupled with our background in transforming large data ecosystems into vibrant communities creates a definitive way to leverage our background to accelerate Wikisoft's entry into the global blockchain market and we look forward to accelerating Wikisoft's unique architecture and data environment into an active and vibrant venture community."

This press release does not constitute an offer of any securities for sale.

ABOUT ETHERALABS LLC

Etheralabs is New York City based venture lab and ecosystem that invests in, builds, and deploys disruptive technologies across the Blockchain landscape. Etheralabs fast-tracks ideas into solutions that help high-growth companies with a focus on capital appreciation and scale via early-stage identification and accelerated resource deployment. The acceleration model lays the foundation for taking promising IP from both concept to company and from revenue to profitability, culminating in a fully functioning portfolio venture that is ready to attract follow-on funding, an acquisition partner, or to operate as a standalone company.

More information can be found at: https://etheralabs.io

ABOUT WIKISOFT CORPORATION

In today's fast-moving business world of increasing globalization, Wikisoft leverages big data and associated insights from business datasets to improve performance.

In line with this new phase of globalization, Wikisoft believes that there is a growing demand for access to credible and reliable business data. Data is essential to creating the complete view of customers, prospects, investors, suppliers, and partners necessary to power the right decisions.

Our vision is to create opportunity globally by collecting precise data, curating it, verifying it and putting it in the hands of professionals and businesses as consumable business intelligence. We believe in the power of Wikisoft to collect massive amounts of data and deliver it to businesses curated, credible and reliable.

FORWARD-LOOKING STATEMENTS

This press release contains statements of a forward-looking nature about the Company. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "future" or other similar expressions. The Company has based these forward-looking statements primarily on the Company's current expectations and projections about future events and financial trends that the Company believes may affect Company's financial condition, results of operations, business strategy, and financial needs. There is no assurance that the Company's current expectations and projections are accurate. All forward-looking statements in this press release are based on the Company's information on the date hereof. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results to differ materially from those implied by the forward-looking statements. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law. This press release does not constitute or form part of any offer or invitation to purchase, otherwise acquire, issue, subscribe for, sell or otherwise dispose of any securities, nor any solicitation of any offer to purchase, otherwise acquire, issue, subscribe for, sell, or otherwise dispose of any securities of the Company. The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.

CONTACT
WikiSoft Corp.
315 Montgomery Street, San Francisco,
CA 94104, USA
Phone: +1-800-706-0806
Email: investor@wikisoft.com
Investor site: www.wikisoft.com

SOURCE: WikiSoft Corp.

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https://www.accesswire.com/688604/Wikisoft-Corp-Acquires-Blockchain-Tech-Company--Etheralabs-LLC

FAQ

What is the purpose of Wikisoft's acquisition of Etheralabs LLC?

Wikisoft's acquisition aims to enhance its blockchain capabilities and support the launch of the Wikifunding platform, connecting startups with investors.

What percentage of Etheralabs LLC is Wikisoft acquiring?

Wikisoft is acquiring a 51% stake in Etheralabs LLC.

How will the acquisition impact Wikisoft's earnings?

Wikisoft expects the acquisition to be accretive to earnings over the next two years.

What technologies will Wikisoft gain access to through this acquisition?

Wikisoft will gain access to Etheralabs' full stack of blockchain technologies and development partnerships.

When was the acquisition of Etheralabs LLC announced?

The acquisition was announced on March 1, 2022.