Business
Cardiff International, Inc. Signs LOI to Acquire 495 Communications, LLC
Cardiff International, Inc. Signs LOI to Acquire 495 Communications, LLC.
About this update from Cardiff Lexington Corporation
[{"type":"text","content":"\n \n \n Cardiff International, Inc. Signs LOI to Acquire 495 Communications, LLC\n \n \nCardiff International, Inc. Signs LOI to Acquire 495 Communications, LLC\n \n FORT LAUDERDALE, FL--(Marketwired - Nov 13, 2017) - Cardiff International, Inc. (OTCQB: CDIF) and 495 Communications, LLC (Private: 495 Communications) announced today they have signed an LOI (Letter of Intent) to acquire 495 Communications, LLC.\n This merger provides Cardiff entry into video and mobile focused digital media advertising which widely appeals to young demographics. In 2016, 495 Communication's Revenues were $18.8M with a 34.4% Gross Margin and Adjusted EBITDA of $3.175M. The Company has no debt and reports assets of $2.8 M as of July 2017.\n 495 Communications not only represents the future but is the proven, highly profitable and scalable technology presence positioned in the right place at the right time. \"We are ecstatic about this new acquisition,\" stated Alex Cunningham, President/Chief Executive Officer of Cardiff. \"As we promised to our shareholders, 495 will be the cornerstone from which allows Cardiff the ability to gain a strong presence within the technology industry. This acquisition enhances our ability to attract technology leaders within this ever-growing industry insuring us a strong revenue stream, improving profitability and increasing shareholder value.\"\n 495 Communications (http://www.495communications.com/) helps brands succeed in the competitive world of consumer awareness by utilizing all forms of content: video, native, and editorial. This enables consumer engagement across multiple screens, reaching consumers, across all platforms and devices with an impressive list of publishing partners that includes more than 2,000 premium websites, as well as their own proprietary mobile and tablet applications.\n CEO Bret Polansky stated, \"By 2021 the Online Native video and Connected TV markets project to be massive with revenues growing into the billions; with Online Native Video leading the way which projects to be 36% of the $50 billion marketplace in 2021.\" As for Connected TV, Mr. Polansky sees huge growth with the accelerated \"cord cutting\" and more brands finding value showcasing products and services on \"Connected TV.\" Products like Roku (39% of all users), Google ChromeCast (37%), Amazon Fire (35%) and Apple TV...