TROY, Mich., March 20, 2018 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink:VPER), (Company), an international leader in the LED lighting products & integrated systems markets (Smart Cities), is pleased to announce that the Company has concluded negotiations to acquire 100% of Global Services International, Inc. (GSI).
Terms and conditions include an initial stock payment of 500 million restricted Viper Networks common shares and $10 million U.S. Dollars to be paid over the period of the current multiple GSI projects, which is estimated to be within 3 years.
Headquartered in Chicago, Global Services International (www.GSI-Networks.com) is currently working on several public/private partnership LED Lighting Systems and Control Sensors projects throughout the State of Illinois. The Company’s estimated value of the collective projects total approximately $100 million annually.
Mr. Farid Shouekani, the CEO of Viper Networks, commented: "This acquisition immediately impacts our working coverage for the Smart City market in the heart of the Midwest and should further serve to springboard our major market initiatives throughout the U.S. Regarding acquisition terms, VPER shareholders should welcome our newest major shareholder since they are clearly motivated to maximize our stock valuation.”
The Company will continue to update shareholders as milestones occur in its Smart City LED sector, as well as its new block chain division.
About Global Services International, Inc.
Global Services International (GSI) is a recently established Energy Efficiency Solution Company utilizing state-of-the-art Solid-State LED Lighting Systems and Control Sensors, along with Machine to Machine infrastructure that promotes energy conservation while reducing energy consumption costs.
GSI's overall strategy, to be at the forefront of this fast-emerging dynamic global market, begins with assembling a diverse team of proven professionals and committed partners with expertise in each aspect of a vertically integrated Value Supply Chain (VSC). The VSC can be defined as the process of designing, engineering, manufacturing, and implementing LED illumination systems and control sensors to individually address each customers' energy-efficient infrastructure needs.
For more information go to www.ViperNetworks.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future.
Investor Relations: Heritage First Capital // Scott Gibson, 407.444.5959
Source:Viper Networks, Inc.