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| ITOX on High Alert on Game Changing Acquisition News |
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 Hot Stock to Watch |
Company: IIOT-OXYS, Inc. (Pink Sheets: ITOX)
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Last:
Price: 0.15
Change (%): + 0.02 (15.38)
Volume: 5,100 |
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IIOT-OXYS Inc. Enters Into Agreement To Acquire Infinite Automation Systems, Inc.
Cambridge, MA, Sept. 26, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — IIOT-OXYS, Inc. (OTC Pink: ITOX) announced the execution of a Letter of Intent (LOI) to acquire Infinite Automation Systems, Inc.
Infinite Automation Systems, Inc. is an innovator of IIoT software and global data acquisition systems which provides end-to-end connectivity and normalization of diverse data streams to provide a “single pane of glass” view into equipment and systems over the whole enterprise.
Cliff Emmons, CEO of IIOT-OXYS, Inc., stated, “This LOI allows our two companies to fully examine the obvious synergies in our complementary technology, market segments, and customer bases. The Mango IIoT platform will allow IIOT-OXYS, Inc. to focus on its core value – Machine Learning Algorithms that yield real time insights which enhance our customers’ performance, productivity, and costs. It would also give the combined companies access to public capital to drive rapid scaling and shareholder value.”
Joel Haggar, CEO of Infinite Automation Systems, Inc., stated, “We are excited to explore this partnership with IIOT-OXYS, Inc., as we feel this represents a significant boost in value to our customers. Bringing Machine Learning and AI technologies into our platform will result in a huge leap forward in our offering but also represents higher quality services, support and faster time to market with new and exciting products.”
The closing of the transaction is subject to a number of conditions precedent, including satisfactory due diligence by us and the execution of definitive agreements, including employment agreements with the principal officers and directors of Infinite Automation Systems.
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