LAS VEGAS, Dec. 21, 2017 (GLOBE NEWSWIRE) -- Black Cactus Global (OTC Markets:ENVV) (the “Company) is pleased to announce it will acquire 100% acquisition of the issued shares of World on Wireless (UK) Ltd (WOW), a company which provides white label payment systems and services on an international basis to banks, financial institutions, remittances companies and retail chains. The acquisition will generate recurring contractual revenue of nearly US$ 1,000,000, very similar to WOW ‘s present 2017 proceeds.
WOW’s services include mobile wallets, merchant payments, physical and on-line payment points, consumer credit products, PCI and closed loop card programs that are interconnected into all mobile payment networks and can be used by any mobile phone world-wide. WOW owns approximately US$ 2,000,000 of Intellectual Property for its programs and platforms which are licensed on 3 – 5 year rolling agreements which are backed with revenue generating technical and development support.
Black Cactus will retain WOW’s experienced software development and management team. Mr. John Mittens, WOW’s current CEO will be appointed the Executive Vice-President for New Business Development. Mr. Mittens has over 20 years of experience in the telecommunications industry managing major technical projects for both start-ups and mature companies worldwide. John has held senior executive positions with both, British Telecom and Cable & Wireless, as well as launching a number of highly successful start-up ventures including; the largest Fiber Optic network in Europe; the largest prepaid card company in the UK; and a number of mobile telephone gateway companies.
Lawrence Cummins, CEO of Black Cactus, states, “Black Cactus’ acquisition of WOW is one of the steps the company is taking in strengthening its position in the Blockchain payment services industry and with WOW’s expertize and IP it will be able to rapidly grow this business." Mr. Cummins further states, “I am very pleased to bring John Mittens onto our management team as it will increase the depth of our ability to provide and support a wider range of products and his knowledge of the payment card industry dovetails into our trading platform offering of fiat and crypto currencies."
John Mittens the CEO of WOW, states, “I am very pleased to become part of the future of Black Cactus Global, WOW has been developing a number of initiatives in crypto currency and Blockchain development which will be enhanced by the powerhouse of Blockchain IP owned by Black Cactus.”
About the Company
Black Cactus Global is a technology developing company with a focus on Blockchain, machine learning, cryptocurrency, and the Internet of Things. We partner with international government agencies, large corporations and specialised groups on global development and consulting projects in our key development areas of Fintech, digital media, financial services, cyber security, and healthcare.
Our mission is to pioneer the application of Blockchain and overlapping technologies to protect IP and the security of data and financial transactions.
The company wishes to issue a slight correction of our news release of December 8th 2017, which stated that the Company’s CEO, was appointed to the Board of Commissioners to the UNs Blockchain Commission for Sustainable Development. This Blockchain Commission was actually established by Global Partnerships Forum, PVBLIC Foundation & The Fund for Philanthropy in response to the need to develop a framework for the United Nations system, including its Member States, Intergovernmental Organizations, programs and specialized agencies can utilize Blockchain-based technologies.
In addition to Lawrence Cummins, the CEO of Black Cactus Global, Inc, joining the Board of Commissioners of the Blockchain Commission for Sustainable Development, Black Cactus Global will join the Commission’s global community platform, Blockchain for Impact, as a Founding Member.
Sergio Fernandez de Cordova, Co-Chair of The Blockchain Commission, stated, "Mr. Cummins brings a wealth of expertise and resources to the Blockchain community—his wisdom and deep experience in distributed ledger philosophy, technology and industry provides an unique and invaluable perspective, and we are delighted to have him on board.”
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Source: Black Cactus Global