Business
InterCloud announces a definitive agreement for the sale of a subsidiary
InterCloud announces a definitive agreement for the sale of a subsidiary.
About this update from Intercloud Systems Inc
[{"type":"text","content":"\n\n NEW YORK, Feb. 06, 2018 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the \"Company\" or \"InterCloud\") (OTC:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced the execution of a definitive agreement for the sale of ADEX Corporation.  Under the terms of this asset sale, InterCloud will receive $5.0 million in a combination of cash and seller’s note.  \n Mark Munro, CEO of InterCloud stated, “the sale of this asset continues the realignment of InterCloud’s business strategy and reduction of our outstanding liabilities.” The closing is subject to completion of financing by the acquirer and other standard closing conditions. About InterCloud Systems, Inc. InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.com. Forward-looking statements: The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as \"anticipate,\" \"appear,\" \"believe,\" \"could,\" \"estimate,\" \"expect,\" \"hope,\" \"indicate,\" \"intend,\" \"likely,\" \"may,\" \"might,\" \"plan,\" \"potential,\" \"project,\" \"seek,\" \"should,\" \"will,\" \"would,\" and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes ar...