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[January 17, 2013]
Digital Utilities Ventures Completes TORQ Communications Merger
Jan 17, 2013 (Close-Up Media via COMTEX) -- Digital Utilities Ventures, Inc., a provider of Internet Protocol video transport systems, announced it has finalized the merger to acquire 100 percent of TORQ Communications.
In a release dated Jan. 14, Garry McHenry, CEO of Digital Utilities, said, "TORQ has network and interconnections with major network providers worldwide and will allow the DUTV distribution of video content to be a powerhouse that is dedicated to surpassing consumers' expectations, both with the innovative content, and new vertical markets for Internet Protocol Television. The merger will be a major corporate component that allows a new look and feel of the Vizzage brand." Vizzage is creating a format that represents a key expression of the future, and profitability in IPTV.
The details of the TORQ merger including new corporate strategies, revenue projections, potential partnerships with U.S. based carriers, and the assignment of a new TORQ management team, will be announced in the coming weeks.
"Most of all I want to thank our loyal investors and supporters that have waited so long for this merger to be completed. It took much longer than anyone had expected but fortunately we have successfully completed this deal and look forward to moving full speed ahead this year with our IPTV vision and technologies," said McHenry.
Digital Utilities Ventures is an intellectual property company and technology incubator.
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