i Brands Corporation Enters into Negotiations to Acquire Technology Company Jan 13, 2010 7:25:00 PM Copyright Business Wire 2010 Email Story Discuss on ZenoBank
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ATLANTA--(BUSINESS WIRE)-- i Brands Corporation (OTC: IBRC), www.ibrandscorp.com, announces negotiations are underway to acquire a technology company that is based in the United States. The technology company specializes in providing services to Internet companies in the areas of software development, website design and development, Internet technology services, Internet security and Internet marketing.
"Acquiring the technology company will double i Brand's current annual revenues and provide us with new sources of income," states Paul Smith, CEO. "Additionally, this acquisition will expand i Brands technical capabilities and minimize outsourcing our technology to non-related firms. We are pleased with the way negotiations are progressing and we expect the final terms and understanding to be concluded by the end of this month, at which time we can then disclose the details of the acquisition."
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