Scottsdale, AZ -- (ReleaseWire) -- 03/28/2016 --VIP Ventures Corp. (OTCMKTS:VIPV), a subsidiary of VIPR Corp., is pleased to announce the Company has signed a binding Letter of Intent (LOI) to acquire an Enterprise Software as a Service (SaaS) provider that currently services a corporate client base throughout Central and South America. The terms of the transaction will be available for public dissemination shortly subject to the LOI agreement.
Enterprise SaaS is essentially software that is delivered as a hosted service and accessed via the Internet. SaaS is becoming increasingly valuable to businesses bottom-lines because it allows IT departments to focus on proactive services that facilitate application activities directly associated to company goals rather than reactively delivering and supporting in-house software systems.
"This represents a tremendous step forward for our VIPV stakeholders with the Company's strategic positioning into such an emerging and high growth business sector, which is even more significant in the Central and South America areas. We are currently not in a position to discuss the details of the pending acquisition until its completion due to the non-disclosure restrictions of our LOI", said VIPV President & CEO Daniel Roth.
International Data Corporation, a noted leader in market analysis and intelligence, has estimated the global Enterprise SaaS market at over US$40 billion and it is expected to exceed US$60 billion by 2018. The Central and South American markets are comparatively capturing an increasing percentage of the massive global Enterprise SaaS market. VIPV credits improvements in security, cloud based infrastructure, and overall cost effectiveness as facilitating this explosive growth market.
For additional information, please visit: http://www.vipventurescorp.com
This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on VIPR Corp.'s current expectations and projections about future events, based on information currently available.
The forward-looking statements found in this press release may also include statements relating to VIPR Corp.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. VIPR Corp. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. VIPR Corp. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
VIPV Contact Information: