Full Press Release Details
iGAMBIT Acquires Assets and Operations of
Acquired Operations expected to show revenue of $39
million for the year ending December 31, 2012
Press Release: iGambit Inc Mon, Jan 7, 2013 12 PM EST
SMITHTOWN, NY., Jan. 7, 2013 /PRNewswire/ -- iGAMBIT, Inc. (OTCQB: IGMB), a
diversified technology development and holding company, announced that on December 31,
2012 it acquired the assets and business of igxGlobal, Inc and igxGLOBAL UK Limited
( igxGLOBAL ). igxGLOBAL is an internationally recognized information technology services
company with core competencies in IT network infrastructure and data security solutions.
The acquisition was structured as a stock and asset purchase for a combination of cash, notes and
iGambit common stock A portion of the purchase price will be escrowed based on the future
performance of igxGLOBAL over a three-year period.
The new iGAMBIT subsidiary will be known as IGXGLOBAL, Corp. and IGX EMEA,
respectfully. With world headquarters in Rocky Hill, Connecticut and European headquarters in
Canterbury Kent, England, IGXGLOBAL provides best-of-breed information network and
security integration products and services to enterprise customers of all sizes throughout North
America and Europe. The largest industries served by IGXGLOBAL customers include major
banks, financial securities companies, stock exchanges, insurance companies, hospital groups,
and universities. The company is a value-added reseller of over twenty IT network and security
Thomas Duffy, the sole owner of igxGLOBAL prior to the sale, will continue to serve as
President and CEO of IGXGLOBAL, Corp. Thomas stated, We are delighted to become the
keystone business of iGambit and believe by taking a leading role in this public company we can
grow a very profitable and significant company in the IT segment of the industry. Our plan will
be to seek growth both internally and by combining with other IT consulting companies that
bring complementary products and services that support the business needs that our many
customer relationships have shared with us.
John Salerno, Chairman and CEO of iGambit, said, We have looked long and hard for
technology companies that can benefit from ownership in the iGambit holding company model
and that exhibit exceptional management and significant potential for growth. I am pleased to
report that we have found a terrific opportunity for iGambit, igxGLOBAL and our stakeholders
in this combination. We look forward to having a close and rewarding relationship with Tom
Duffy and the igxGLOBAL team as they seek to continue on their mission of providing critical
services and products in the expanding and dynamic IT infrastructure and security space, while
creating value for all of our shareholders.
iGambit (OTCBB: IGMB, www.igambit.com ) is a fully reporting
publicly-held company focused on the technology markets. The stock has not been listed for
trading pending the acquisition of a substantial business of the size of igxGLOBAL. Prior to the
acquisition of igxGLOBAL, iGambit had one operating subsidiary in the business of providing
media technology services to the real estate industry. iGambit's focus is to grow its businesses
and seek additional accretive technology companies that might benefit from public ownership.
iGambit plans to assume an active role in the development and growth of igxGLOBAL,
providing both strategic guidance and operational support.
About igxGLOBAL Inc.: igxGLOBAL (www.igxGLOBAL.com ), now a subsidiary of iGambit,
Inc., provides enterprise clients security and network infrastructure services and products.
Working independently, or alongside key technology partners, igxGLOBAL brings a wealth of
solutions experience to that help clients to develop, deploy and sustain an effective long term
network and information security practice. igxGLOBAL delivers on these solutions by providing
clients with the intelligence required to make informed decisions, the products that provide
insight and enforcement, the expertise and operational support to ensure smooth integration and
performance. igxGLOBAL is committed to helping its clients design, operate and assure their
networks with greater flexibility, security, efficiency and scalability.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this document and elsewhere by iGambit are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995. Such information
includes, without limitation, the business outlook, assessment of market conditions, anticipated
financial and operating results, strategies, future plans, contingencies and contemplated
transactions of the company. Such forward-looking statements are not guarantees of future
performance and are subject to known and unknown risks, uncertainties and other factors which
may cause or contribute to actual results of company operations, or the performance or
achievements of the company or industry results, to differ materially from those expressed, or
implied by the forward-looking statements. In addition to any such risks, uncertainties and other
factors discussed elsewhere herein, risks, uncertainties and other factors that could cause or
contribute to actual results differing materially from those expressed or implied for the forward-
looking statements include, but are not limited to fluctuations in demand; changes to economic
growth in the U.S. and the European economy U.S. and EU government policies and regulations,
including, but not limited to those affecting the t and IT solutions industry. iGambit undertakes
no obligation to publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise. Actual results, performance or achievements could differ
materially from those anticipated in such forward-looking statements as a result of certain
factors, including those set forth in iGambit Inc's filings with the Securities and Exchange
ProActive Capital Group LLC
646-863-6341 jramson@proactivecapitalgroup.com