The executive management of Bebuzee (UK), Ltd. announced today that it had consummated its acquisition of the controlling stock interest in Engage Mobility, Inc. (OTC Pink: ENGA). As a wholly-owned subsidiary of Bebuzee (UK), Ltd., the publicly-traded company will operate as the primary commercial vehicle for Bebuzee's social network platform through a series of licenses of the company's proprietary intellectual property. In connection with the acquisition of Engage Mobility, the respective management of Bebuzee (UK), Ltd. has been appointed to the same positions within the public company.
"This is a tremendous step forward in the growth of the Bebuzee brand," stated Joseph Onyero, Founder and Chief Executive Officer of Bebuzee (UK), Ltd and newly appointed Chief Executive Officer of Engage Mobility. He continued, "as part of our long-term strategic initiatives, we view becoming publicly-traded as a means with which to attract additional capital to the corporate group in furtherance of our growth objectives." Founded in 2012, and named one of Britain's top fifty technology startups, Bebuzee offers a fully-built platform which has boasted over forty million users.
In connection with the acquisition of Engage Mobility, management will endeavor to change the public company's name and ticker symbol to reflect the Bebuzee brand, subject to customary regulatory approvals. At the same time, management does not foresee the need for a reverse split of Engage Mobility's common stock. Mr. Onyero continued, "we are committed to minimizing stockholder dilution including maximizing our external valuation prior to raising additional capital."
Bebuzee is committed to stockholder transparency and will seasonably provide further stockholder updates via press releases, social media, and the company's website (www.Bebuzee.com) regarding the matters disclosed herein and other developments year comes to a close.
Bebuzee (UK), Ltd.
Based in London, United Kingdom, Bebuzee (UK), Ltd. offers a unique, proprietary video-sharing platform and streaming service that allows our members to watch a wide variety of content such as movies, series, documentaries and talk shows on any internet-connected device. Bebuzee's technology scans the world's news, features and information flow to give its dedicated readers the best of the Internet in one place. A one-stop platform for breaking news, interesting and important blogs, videos, and photos. Bebuzee offers an addictive resource for those millions of people without time to scavenge the Internet and other sources for news and information.
