Business
JZZ Technologies, Inc. Closes Acquisition of Oxygen Mortgage
JZZ Technologies, Inc. Closes Acquisition of Oxygen Mortgage.
About this update from Ideal Group Of Companies Inc.
[{"type":"text","content":"Anderson, South Carolina--(Newsfile Corp. - November 29, 2023) - JZZ Technologies Inc., (OTC Pink: JZZI) (\"JZZ\" or the \"Company\"), a diversified company focused on real estate development and digital media, has closed its acquisition of O2 Mortgage, LLC, DBA Oxygen Mortgage (\"Oxygen\"). With the acquisition of Oxygen Mortgage, JZZ is fulfilling the first step in creating a vertically integrated Real Estate Development Division.Oxygen Mortgage's goal is to grow JZZ's Real Estate Development Division by building great communities for people to raise their families in and to build wealth through Real Estate. Having an experienced, quality mortgage division levels the Company up with the largest builders in the country. Oxygen intends to lead with service, technology, and experience to offer a truly superior home buying process that's ranked highest with its customers. To achieve its goals, the Company plans to make a significant capital investment in Oxygen's technology to perfect the client experience, all while expanding its national footprint. \"I couldn't be any more excited about joining with JZZ Technologies. This is truly a great scenario for both of our companies. We have so much potential together to contribute to a complete service experience and the overall success of the Real Estate Development Division,\" says Rob Egeland, President, and CEO of Oxygen. In the post-Covid era, many corporations and families have migrated from large urban areas in favor of developing regions with increased quality of life. These areas offer lower cost of living, flexible job opportunities, and significant tax advantages. The Company's real estate division is initially targeting real estate projects in South Carolina and the surrounding regions -one of the hottest markets in the country. The Company has identified a huge opportunity to be at the forefront of developing mixed use, multifamily, and luxury rental communities.Oxygen Mortgage will continue to operate as a full-service mortgage company helping homeowners purchase homes in over 20 major markets throughout the US. Ease of application, education of borrowers to the process, and a long-term relationship will be even more important as we emerge from the current high-rate environment. By taking care of clients in areas such as helping to lower their rates and payments, Oxygen wil...