Business
Efftec Announces Acquisition of YamYam, LLC as Wholly-Owned Subsidiary
Efftec Announces Acquisition of YamYam, LLC as Wholly-Owned Subsidiary.
About this update from Nexteligent Holdings Inc.
[{"type":"text","content":"\n \n \n Efftec Announces Acquisition of YamYam, LLC as Wholly-Owned Subsidiary\n \n \nEfftec Announces Acquisition of YamYam, LLC as Wholly-Owned Subsidiary\n \n TULSA, OK--(Marketwired - Oct 15, 2013) - Efftec International, Inc. (OTC: EFFI): Efftec today announced that it has completed the full acquisition of YamYam, LLC (\"YamYam\" or the \"Company\"), a software and mobile application development company based in Reno, NV. \n YamYam has shown an impressive track record in terms of business ability and acumen since its inception in early 2011, essentially skipping the 'start-up' phase, producing tangible revenues and profits in its first year of business. On a year-over-year basis, the Company has shown growth of 350% in top-line revenues from 2012 to 2013, having booked over $320,000 in revenues to date this year.\n During our diligence period, YamYam stood out as the best choice for Efftec and our shareholders amongst the short list of potential acquisition candidates. The Company was selected not only for its impressive operating history, but for its proprietary software and IP asset base. YamYam owns the source coding, frameworks, and other related IP which serve as the functional basis for a number of games and applications which are currently active and in-use.\n Dr. Clinton, CEO of Efftec, stated that, \"We are very pleased to bring the news of this acquisition to our valued shareholders. With YamYam, we saw a company which was operating quite well in its own regard, in a sector which analysts unanimously agree will continue to see excellent growth for the next many years to come. As importantly, also as one which, with the backing of our company, could be pushed to new heights rather quickly. We intend to grow YamYam into a true competitor to the medium and, potentially, to the majors in its sector.\" \n \"We will expand upon the operating history, management, and current and upcoming business of YamYam very shortly,\" continued Dr. Clinton.\n Per discussions between the management of both companies, YamYam will retain its name and structure as a limited-liability company for the present time, wholly-owned by Efftec. Future plans may include incorporation.\n About:\n Efftec International, Inc. is a holding company with three wholly owned subsidiaries. Efftec, is active in the area of acquisition and proprietary devel...