Business
Hammer Fiber Optics Holdings Corp Enters into a Definitive Agreement to Aquire Telecom Financial Services Ltd
Hammer Fiber Optics Holdings Corp Enters into a Definitive Agreement to Aquire Telecom Financial Services Ltd.
About this update from Hammer Technology Holdings Corp.
[{"type":"text","content":"New York, New York--(Newsfile Corp. - October 26, 2021) -  Hammer Technology Holdings Corp (OTCQB: HMMR), formerly Hammer Fiber Optics Holdings Corp. (\"the Company\"), announced today that as part of its evolving diversification strategy, the Company has entered into a definitive agreement to acquire One Hundred percent (100%) equity stake in Telecom Financial Services Ltd (\"TFS\") a well-established, qualified, and distinguished developer of digital financial solutions and cross-border remittance products. Following the 8K filing of this transaction, HMMR will change the name of the company from TFS to HammerPay [USA] Ltd. The partnership secured in this transaction paves the way for HMMR, via its own fintech solutions deployed under the brand name of HammerPay, to deliver a broad array of new financial products that adopt architectures such as blockchain, securely leveraging the latest technologies to deliver best-in-class services, dramatically driving down transaction costs while unlocking new business opportunities for financial institutions, banks, telecom operators, carriers, service providers, merchants, and more. This acquisition follows the advice and guidance of the recently appointed Principal Consultant of Global Fintech Acquisitions, Kevin Ferguson, who previously identified TFS as an acquisition target and stated that: \"Although the final details of the transaction were still under a Strictly Confidential Letter of Intent, the successful acquisition of this fintech entity, which has key strategic banking partnerships in place, will significantly and rapidly position Hammer as a viable and lucrative international cross-border remittance and bill payment competitor.\" Commenting on this breakthrough strategic partnership, evidenced by the signing of the equity definitive agreement between the parties, Eric Maire Chairman of TFS stated that: \"The innovative technology that HammerPay delivers over its current cross-border merchant-driven solution, coupled with the feature-rich and highly secure traditional financial services capabilities of the TFS platform, creates a uniquely convergent product offering by enabling countless traditional banking institutions to partner with fintech providers in offering financial services to a far greater, more inclusive audience than was ever thought possible in the old worl...