Image Protect Announces Memorandum Of Understanding For Pending New Business Acquisition

Oct 02, 2023•almost 2 years ago

Acquiring Company

Image Protect

Acquired Company

Business

Music

Description

via NewMediaWire -- Image Protect, Inc. (OTC:IMTL) (Imageprotect.com) (“Image Protect” or the “Company”), is pleased to announce that it has completed its Due Diligence and reached a Memorandum of Understanding on its pending new business acquisition first mentioned on Tuesday, September 26th. The process is now moving toward an LOI (Letter of Intent) with expectations of having all terms agreed upon within the next seven business days.

Company Information

Company

Image Protect

About

Image Protect (IMTL) is a tech and media company with a focus on digital assets. The Company's unique digital asset library and proprietary technology was developed by company subsidiary Fotofy. The Company owns and operates www.legendNFTs.io which is an auction for NFTs of Hip Hop Artist and major Sports figures. The Company has been developing Tokentunz as a site for Music NFTs. Safe Harbor Provision Cautionary statement for purposes of the 'Safe Harbor' provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties, and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties, and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. Investor RelationsIR@imageprotectcorporation.com SOURCE: Image Protect, Inc.

M&A Insights

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Integration timeline

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Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

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