DALLAS, April 20, 2017 /PRNewswire/ --
Ciao Group, Inc. (USOTC: CIAU) today announced plans to acquire a telecommunications operational support system (OSS) company with a 10-year operating history providing network management and billing services to emerging market carriers. The average annual revenue of the OSS company is $1.2 million. Management anticipates closing the acquisition within the next 60 days.
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh.
As one component of its frontier and emerging economic market focus, the Company has zeroed in on the locally source mobile vertical network operator (MVNO) market. The Company is in negotiations with MVNO companies in Africa, South America and Asia. As part of a strategic effort to efficiently develop the frontier and emerging MVNO market, the Company plans to acquire technology solutions that will empower MVNO companies. The target OSS company acquisition announced today is an example of he type of MVNO supporting technology solutions Ciao plans to acquire. The Company has recently announced a similar target acquisition.
Management anticipates the approximate $1.2 million in average annual revenue that comes with the target acquisition announced today will rapidly ramp up exponentially as more frontier and emerging market MVNO's are signed in conjunction with Ciao's aggressive marketing campaign.
Learn more about Ciao Group / NuMelo Technology on the Company's website and check back frequently to keep up with the Company's progress to include the two acquisitions anticipated in the near future.
About NuMelo Technology, Inc:
NuMelo Technolgy is dedicated to discovering and developing innovative technology within the world's emerging and frontier markets. NuMelo brings the experience and resources to identify communication technology innovators within the worlds emerging and frontier markets and develop with them marketing and capitalization strategies to overcome the hurdles identified by the World Bank currently hindering the proliferation of emerging and frontier telecommunication services to achieve the corresponding alpha return potential.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Contact NuMelo Technology:
SOURCE Ciao Group, Inc.
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