AmbiCom and Voosh close Asset Purchase Agreement.
SANTA CRUZ, CA –(September 29, 2017) – AmbiCom Holdings, Inc. (OTCPS: ABHI), the leading provider of cloud based Active Optimization services for Personal Computers and servers, today announced that it has finalized the asset purchase agreement with Voosh, LLC, to join together and create a formidable technology driven company.
Under the terms of the asset purchase agreement, AmbiCom Holdings, Inc. has purchased Voosh’s sales and distribution company, along with assets that include the application code that performs Active Optimization, protected by Patent number US 8,438,378 B2.
As part of this transaction, Kevin Cornell will replace Alain LeWand as the Chief Executive Officer of AmbiCom Holdings Inc.
“First, let me extend a heartfelt thank you to Alain who stepped into the CEO role at a time when AmbiCom was mired in serious debt and legal issues. He shepherded AmbiCom through these troubles and gave it a chance for a fresh start,” stated Kevin Cornell. “Our short-term focus will be to finalize the corporate requirements to get AmbiCom’s SEC requirements current so it can be a fully reporting public entity. As well, we will be turning AmbiCom into an operating company, selling its unique optimization product into multiple markets, either directly or through partnerships. Our focus is increasing our corporate value and, by extension, our shareholders value.”
Also joining AmbiCom Holdings will be Marvin J Miller Jr., in the position of General Counsel and Chief Operating Officer, and Paul McGee in the position of Director of Technical Marketing.
AmbiCom has also established an advisory board. The first member of this board is Michael Lazar. Michael was the creator of the Active Continuous Optimization product and is named on our active optimization patent number US 8,438,378 B2.
About AmbiCom Holdings, Inc.
AmbiCom Holdings Inc., headquartered in Santa Cruz, California, searches out, acquires and/or invests in unique technologies that have the potential for wide adoption in large markets. Ambicom looks for mature management teams that have a history of successfully converting new concepts into products.
Of particular interest are high margin products that have the ability to enhance user’s experience while generating a positive return on investment.
We are acutely aware of our responsibility to the investors that have placed their trust in our abilities to effectively manage the assets of Ambicom on their behalf.
For more information, visit www.ambicom.com.
About Voosh LLC
Voosh LLC markets and supports optimization software that is licensed from Ambicom Holdings Inc. This software improves the performance of servers and workstations through the automatic evaluation and adjustment of the manufacturers’ supplied settings. The Voosh application has been certified by Microsoft, IBM, VMware and Citrix in independent evaluations. It has also won the ‘Cool Vendor’ award from Gartner in the area of infrastructure tools. Voosh is located in Santa Cruz, CA.
For more information, visit www.vooshtech.com
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one of more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
AmbiCom Holdings Inc.