Business
Balincan USA, Inc. and Tekumo LLC. complete Merger, Financing and Recapitalization
Balincan USA, Inc. and Tekumo LLC. complete Merger, Financing and Recapitalization.
About this update from Tekumo, Inc.
[{"type":"text","content":"\n NEW YORK, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Balincan USA Inc. (\"Balincan\" or the \"Company\") announces that it has acquired Tekumo LLC, a Colorado limited liability corporation (“Tekumo”), pursuant to an acquisition completed on June 14, 2022, and closed $797,500 of new financing. Further, all current debt and outstanding convertible and preferred securities were eliminated in exchange for Company common equity. Introducing Tekumo Tekumo is an intelligent service delivery platform that solves the “last-mile” of installing, monitoring, and maintaining technology systems and smart connected devices. The Internet of Things (IoT) is exploding, and digital transformation is everywhere. In delivering any product or service there remains a human link in the supply chain to install and manage such offerings. Tekumo delivers on those service needs, deploying its on-demand Service as a Service platform (SaaS). Tekumo is founded by a small group of successful entrepreneurs; Strings Kozisek (CEO), Chris Nichols (CSO), Phillip Dignan (President/CFO), and Jacob Beasley (CTO). This team brings a shared vision and shared history. Their previous ventures in the software, managed services, organic material manufacturing, retail and automotive verticals are currently generating over $300M in annual revenue.  The Company offers three main product lines. TekumoPRO is a platform that connects enterprises, retailers, and OEM’s with local skilled resources to install and maintain technology systems. It delivers a smarter dynamic workforce, intelligent automation, real-time visibility, and full integration into client service management systems.  TekumoIOT delivers on the complete service chain for smart connected devices. It installs, monitors and manages sensors, devices gateways, hubs, and data for multiple verticals including Multiple Dwelling Units (MDU’s), Quick Service Restaurants (QSR’s), Assisted Living, Retail, Hospitality, Utilities, Builders, Insurance, and Healthcare – all with 24/7 onsite support. TekumoIQ provides real-time risk management and process management data from all connected assets, accessible via Tekumo dashboards or directly delivered into any end user ecosystem. Simply put, Tekumo delivers your product service needs. It is headquartered in Colorado Springs...