Quadrant 4 Systems Corporation (Q4) (OTCQB: QFOR) and Momentum Mobile today announced the merger between the two companies to form Q4 Mobility.
Building on their status as a best-in-class information technology innovator, and their heritage as an IT ground-breaker in outsourcing and infrastructure services, Q4 expects the combined company to become a leading provider of Mobile Applications and Business Solutions worldwide, offering their clients greater depth and range of services. Shareholders of both companies overwhelmingly approved and closed the merger on Monday, January 28th, 2013.
Quadrant 4 Systems Corporation is a global leader in Information Technology (IT) products and services, providing end-to-end IT Solutions and Consulting for their customers, including Enterprise Resource Planning, Product Engineering Services, Application Management Services, Business Intelligence, and Custom Software Development. With the requisite critical mass and scale to offer global solutions, and with the inclusion of Momentum Mobile's expertise in the Mobile Development market, Q4 Mobility is now positioned to address a comprehensive range of business solutions for all functional areas of its customers' organizations.
"This merger represents the best strategic move for both Q4 and Momentum Mobile, a strategy that is certain to deliver increased value to our clients, as well as existing Q4 shareholders," said Josh Carlucci, Momentum Mobile's President. "We are confident that Q4 Mobility will increase our competitive advantage in product offerings, sales distribution and support, while enhancing the relationships with existing clients from both companies." Q4 is now poised for leadership in the Mobile Development market, one that saw revenues in excess of $30 billion in 2012.
The business merger supports Q4's overall strategy to deliver the most comprehensive and highest quality IT Solutions on the market. The merger positions both entities to streamline their business and leverage opportunities for cost-efficiency, and at the same time increase the service and depth of products for their customers. Each company has strong offerings targeted to different needs in our target corporate customer base: Momentum Mobile focused on Mobile App development, and Q4 offering Enterprise IT Solutions and Consulting. By combining these complementary offerings, Q4 Mobility can provide new and existing clients with a broad range of IT and Business Enterprise Solutions, meeting the needs of almost any organization.
About Quadrant 4 Systems Corporation Quadrant 4 Systems Corporation delivers end-to-end information technology solutions to its clients through a unique blend of product solutions, consulting, software development & maintenance, cloud based products and technology from its global delivery centers. The company currently focuses on the Healthcare, Financial Services, IT Consulting, and Retail sectors. The company plans to enhance it positions and technical strength through acquisition of other IT enabled and managed services sector and cloud based services through business acquisitions and/or combination opportunities in the near future to further execute its articulated business strategy.
Forward-Looking StatementsThis release contains forward-looking statements which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should be considered to be forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as each is amended, for which the Private Securities Litigation Reform Act of 1995 provides a safe harbor. Certain factors (including but not limited to those risk factors identified from time to time in our filings with the Securities and Exchange Commission as well as changes in economic conditions; outcome of negotiations; changes in the Company's access to necessary capital; outcome of litigation; volatility of capital markets; variability and timing of business opportunities; changes in accounting policies and practices; the effects of internal organizational changes; adverse state and federal regulation and legislation; and the occurrence of extraordinary or catastrophic events and terrorist acts; or other unforeseen changes in circumstances) could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.
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