News / Business
Perfect Web Technologies Subsidiary Signs LOI to Acquire Digital Communications
Perfect Web Technologies Inc. (Pink Sheets: PWBI.PK) signed a letter of intent to have its wholly owned subsidiary, The Perfect Web Inc., to acquire Digital Communications. This letter of intent has the potential to be an excellent opportunity for Perfect Web to add additional revenue streams. Digital Communications, a telecom infrastructure development company, and its subsidiaries currently have booked over $12 million in sales. These sales have the potential to reach over $100 million in gross revenue.
The Perfect Web was created for the purpose of acquiring companies that would help enhance the short term and long-term goals of the company. Although the letter of intent doesn’t stipulate the purchase agreement for the acquisitions, the short term goals of Perfect Web will be met by increasing the books by $12 million in yearly revenue.
Thomas L. DiStefano III, CEO of Perfect Web, stated earlier, “The management of Digital Communications Inc. has over 30 years experience in the telecom industry. This management group was instrumental in building Able Telecom (a NASDAQ company) to the level at which gross revenues exceeded $600 million per year.”
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