Today, ActionView International, Inc. announced that it has entered an initial agreement for a merger transaction with Stanza Systems Ltd. Under the terms of this agreement, ActionView International would acquire all of the issued and outstanding shares of Stanza Systems, Ltd. In return, Stanza Systems would retain a majority percentage of ActionView International. According to the press release, further details of the proposed share exchange will be included in the definitive agreement.
Stanza Systems’ wireless management services and technologies help some of the largest and most successful companies better manage and operate their businesses. Their broad experience has established themselves in the petroleum, electrical utilities, water and waste water, telecommunications and manufacturing industries. In order to receive recurring revenues, the company generates income through monthly and annual contracts.
Steven R. Peacock, CEO of ActionView International, stated, “We are very pleased to have entered into an initial agreement for a merger transaction with Stanza Systems. Stanza is in the right type of business considering the realities of today’s economy, where companies are seeking to reduce costs through the monitoring and management of information and resources. By entering the public markets to further grow its business and implement an acquisition strategy, we believe that Stanza has the potential to deliver long-term value for ActionView shareholders.”
Stanza System’s management team has more than 100 years of experience and their technical staff have participated with software and application development for many industrial supervisory control and data acquisition (SCADA) systems within the electric and petroleum industries. Their staff have successfully designed and operated large, widely distributed systems and wireless networks for many years.
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