Business
Efftec Announces the Acquisition of YamYam, LLC as a Wholly-Owned Subsidiary
Efftec Announces the Acquisition of YamYam, LLC as a Wholly-Owned Subsidiary.
About this update from Nexteligent Holdings Inc.
[{"type":"text","content":"TULSA, OK--(Marketwired - Oct 14, 2013) - Efftec \nInternational, Inc. (USOTC:EFFI): Efftec today announced that it has \ncompleted the full acquisition of YamYam, LLC (\"YamYam\" or the \n\"Company\"), a software and mobile application development company based \nin Reno, NV. \n YamYam has shown an impressive track record in terms of business \nability and acumen since its inception in early 2011, essentially \nskipping the 'start-up' phase, producing tangible revenues and profits \nin its first year of business. On a year-over-year basis, the Company \nhas shown growth of 350% in top-line revenues from 2012 to 2013, having \nbooked over $320,000 in revenues to date this year.\n During our diligence period, YamYam stood out as the best choice for\n Efftec and our shareholders amongst the short list of potential \nacquisition candidates. The Company was selected not only for its \nimpressive operating history, but for its proprietary software and IP \nasset base. YamYam owns the source coding, frameworks, and other related\n IP which serve as the functional basis for a number of games and \napplications which are currently active and in-use.\n Dr. Clinton, CEO of Efftec, stated that, \"We are very pleased to \nbring the news of this acquisition to our valued shareholders. With \nYamYam, we saw a company which was operating quite well in its own \nregard, in a sector which analysts unanimously agree will continue to \nsee excellent growth for the next many years to come. As importantly, \nalso as one which, with the backing of our company, could be pushed to \nnew heights rather quickly. We intend to grow YamYam into a true \ncompetitor to the medium and, potentially, to the majors in its sector.\"\n \n \"We will expand upon the operating history, management, and current \nand upcoming business of YamYam very shortly,\" continued Dr. Clinton.\n Per discussions between the management of both companies, YamYam \nwill retain its name and structure as a limited-liability company for \nthe present time, wholly-owned by Efftec. Future plans may include \nincorporation.\n About:\n Efftec International, Inc. is a holding company with three wholly \nowned subsidiaries. Efftec, is active in the area of acquisition and \nproprietary development of software, platforms, sustainability, and \ngeneral improvements in the efficiency scales in va...