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Argus Worldwide Corp. signs Memorandum of Understanding to acquire India based technology innovator Tejovat Technologies Pvt Ltd
CHEYENNE, Wyo., April 16, 2018 /PRNewswire/ -- The Board of Directors of Argus Worldwide Corp (OTC Pink: ARGW), (www.argusworldwide.com), a diversified US based operating company, reported today that it has signed a Memorandum of Understanding with Tejovat Technologies Pvt Ltd, (www.tejovat.com) an India based electronics engineering firm with extensive experience in designing, developing and marketing innovative smart digital electronics products for domestic, commercial and industrial use in global markets. It is anticipated that a definitive purchase agreement will be signed within 30-45 days.
According to Argus Chairman and CEO, Michael S Wexler, "The pending acquisition of Tejovat Technologies will mark a significant milestone for our company in bringing to Argus a talent bed of engineering skills and technical know-how that will give our Company a strong footing in the burgeoning 'smart' home market; And equally important, it will add significant technical resources in the digital internet space to fortify and accelerate the build out of our Cyber Junky aggregator that will enhance the digital experience on desktop and mobile platforms."
Tejovat Technologies Pvt Ltd, was established in 2015 and is headquartered in Pune, India.
Tejovat is a leading consumer electronics company, engaged in the field of design, development, manufacturing, marketing and servicing of smart home products, tablets and mobile phones.
The Tejovat technical team has broad experience working on cutting-edge products and technologies for various domains including but not limited to ASIC/FPGA, Hardware, Firmware, Software, Mechanical design, development and verification. The Company's Quality engineering team uses best in class knowledge and training in testing hardware and software products along with the necessary certifications in the field of medical and consumer electronics.
Argus Worldwide Corp is a diversified operating company engaged in the development or acquisition of corporate properties in 'go to' business segments including but not limited to digital/internet products and services and health industries such as generic pharmaceuticals. The Company maintains its registered corporate office in Cheyenne, Wyoming and has affiliated offices in Ottawa, Canada; Warsaw, Poland; and Amsterdam, The Netherlands. Shares of Argus Worldwide Corp. are traded on the US OTC Markets; Pink Current (symbol: ARGW).
FORWARD-LOOKING INFORMATION: Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained here.
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SOURCE Argus Worldwide Corp.
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