Business
Wialan Technologies Signs Letter of Intent to Expand Business Into South America
Wialan Technologies Signs Letter of Intent to Expand Business Into South America.
About this update from Wialan Technologies, Inc.
[{"type":"text","content":"\n \n \n Wialan Technologies Signs Letter of Intent to Expand Business Into South America\n \n \nWialan Technologies Signs Letter of Intent to Expand Business Into South America\n \n SUNRISE, FL--(Marketwired - Sep 16, 2013) - Wialan Technologies (OTC Pink: ACYD) (\"the Company\"), a next generation wireless telecommunications provider, announced today that it has signed a non-binding Letter of Intent (\"LOI\") with Eugene Rostov to form a jointly-owned company to continue the expansion of business into South America with a joint venture in Brazil.?The new joint venture company would be 50% owned by Wialan Technologies and 50% owned by Eugene Rostov.\n Subject to due diligence and the subsequent signing of a definitive Joint Venture Agreement, the terms of the LOI anticipate the Company will provide training for the sales, use, and installation of its products and technology.?Eugene Rostov would provide the funding and staff to sell the company's products and services in Brazil. \n Timothy Peabody, CEO of Wialan, commented, \"The Wialan-Rostov partnership reflects a powerful combination of Wialan's technological leadership and the impressive potential customer network and deep customer understanding that Mr. Rostov has achieved.\"\n \"We believe this new joint venture provides us with an ideal opportunity to enhance Wialan's growth in an area which we believe will be a key growth market in the future. This partnership is another step towards paving the way for Wialan to achieve the long-term vision of becoming a leading global supplier of WIFI technology,\" concluded Mr. Peabody.\n About Eugene Rostov\n Eugene A. Rostov is President and CEO of E. Rostov & Associates LLC. He has spent his career focused on advising clients on cross-border mergers and acquisitions, privatizations, and joint ventures.\n Prior to founding E Rostov & Associates, Mr. Rostov worked thirty-eight years in the international law firm of Baker & McKenzie. He practiced in the S?o Paulo, Brazil office of Baker & McKenzie for fourteen years and then founded the Miami office of that Firm in 1984. His experience includes representing clients in mergers and acquisitions, international trade, export and import transactions, transfers of technology, aviation, transportation, telecommunications, and financing in both the public and private sectors wi...