Business
ProBility Media Corp. Signs Binding Letter of Intent to Acquire W Marketing
ProBility Media Corp. Signs Binding Letter of Intent to Acquire W Marketing.
About this update from Probility Media Corp.
[{"type":"text","content":"\n \n \n ProBility Media Corp. Signs Binding Letter of Intent to Acquire W Marketing\n \n \nProBility Media Corp. Signs Binding Letter of Intent to Acquire W Marketing\n \n HOUSTON, TX--(Marketwired - May 23, 2017) - ProBility Media Corp. (OTCQB: PBYA) today announces that it has executed a binding letter of intent to acquire W Marketing, Inc., a profitable, revenue-generating provider of National Electrical Codes (NECs) to the electrical and construction industries. The acquisition is expected to strengthen ProBility's financial position and enable the Company to become one of the nation's largest wholesalers of National Fire Protection Association (NFPA) electrical codes. \n W Marketing provides the latest NECs through its nationwide network of electrical distributors, which includes bookstores, trade/vocational schools, universities, retail chains, specialty retailers, and independent hardware stores. The company is located in Hauppauge, New York.\n The NEC is a regionally adoptable standard for the safe installation of electrical wiring and equipment in the United States. It is part of the National Fire Codes series published by the National Fire Protection Association (NFPA), a private association. First published in 1897, the NEC is updated and published every three years, with 2017 being the most recent addition. In 2017, W Marketing achieved $2.7 million in revenues. ProBility expects 2018 and 2019 revenues to be less than 2017, and to increase again in the year 2020 when the new codes will be released. \n W Marketing's vast library of published products includes courses and exam preparation materials. The company is also the official publisher and producer of the Dr. Watts companion electrical guides for the electrical and construction trades. With a complete line of NEC books, reference guides, training DVDs and CD-ROMs, W Marketing is a strong advocate for continued learning within the electrical, plumbing, building and construction industries. \n \"We are pleased to announce this corporate milestone and look forward to demonstrating the short- and near-term value it creates. The acquisition of W Marketing positions ProBility to become one of the largest wholesalers of NFPA electrical codes in the United States, and we expect to provide codes to over 175,000 electricians in each three-year cycle,\" states Noah Davis, ...