Cloud Security Corporation
(PublicWire.com Press Release) — NEWPORT BEACH, Calif., Oct. 29, 2013 /PRNewswire/ — Cloud Security Corporation (OTCBB: CLDS), an emerging technology company focused on the next generation of Internet and mobile security, today announced that the Company signed a letter of intent to acquire Slice Networks, LLC, a leading Southern California technology firm. (www.slicenetworks.com).
Slice Networks helps content creators and publishers develop, manage, and monetize their brand and digital presence. Slice specializes in developing video-heavy web platforms and mobile applications ranging from social media, to online video, to distribution of content to multiple devices. They are experts in the latest technologies, mobile and tablet applications, and custom development around multiscreen devices and settop boxes.
“We are pleased to sign this LOI with Slice Networks,” commented Safa Movassaghi, CEO of Cloud Security Corporation. “The Company is led by a seasoned management team and is a rapidly expanding innovator in technology platforms related to video content being delivered through the cloud. This acquisition will provide additional revenue streams and an amazing in house development team.”
“Slice is ecstatic about its future partnership with Cloud Security Corp,” states Lawrence Lam, CEO of Slice Networks. “Joint technology sharing combined with access to public markets to catalyze growth portends a bright future for both companies.”
Terms And Conditions
The proposed acquisition is subject to customary terms and conditions, including the negotiation of a definitive agreement, receipt of necessary approvals and consents, completion of a due diligence investigation, delivery of audited financial statements, and delivery of necessary and customary closing documentation.
About Cloud Security Corporation
Cloud Security Corporation is an innovative cloud computing company whose technology and products allow for secure data connections to the cloud, through networks, traditional computers and mobile devices such as smartphones and tablets. The Company’s flagship product – MyComputerKey™ – provides the ability for remote access security to any computer around the world. The Company also develops online application security products and mobile security technology in the Bring-Your-Own-Device (BYOD) market, a growing trend in today’s mobile workforce. For more information about the Company, please visit www.cloudsecuritycorporation.com.
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