YamYam has shown an impressive track record in terms of business ability and acumen since its inception in early 2011, essentially skipping the 'start-up' phase, producing tangible revenues and profits in its first year of business. On a year-over-year basis, the Company has shown growth of 350% in top-line revenues from 2012 to 2013, having booked over
During our diligence period, YamYam stood out as the best choice for Efftec and our shareholders amongst the short list of potential acquisition candidates. The Company was selected not only for its impressive operating history, but for its proprietary software and IP asset base. YamYam owns the source coding, frameworks, and other related IP which serve as the functional basis for a number of games and applications which are currently active and in-use.
Dr. Clinton, CEO of Efftec, stated that, "We are very pleased to bring the news of this acquisition to our valued shareholders. With YamYam, we saw a company which was operating quite well in its own regard, in a sector which analysts unanimously agree will continue to see excellent growth for the next many years to come. As importantly, also as one which, with the backing of our company, could be pushed to new heights rather quickly. We intend to grow YamYam into a true competitor to the medium and, potentially, to the majors in its sector."
"We will expand upon the operating history, management, and current and upcoming business of YamYam very shortly," continued Dr. Clinton.
Per discussions between the management of both companies, YamYam will retain its name and structure as a limited-liability company for the present time, wholly-owned by Efftec. Future plans may include incorporation.
Efftec International, Inc. is a holding company with three wholly owned subsidiaries. Efftec, is active in the area of acquisition and proprietary development of software, platforms, sustainability, and general improvements in the efficiency scales in various industries.
This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).
Source: EFFTEC INTERNATIONAL, INC.
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