VANCOUVER, British Columbia, Dec. 20, 2017— Multapplied Networks, Inc. (“Multapplied”) is pleased to announce a letter of intent with Victory Square Technologies Inc. (“Victory Square”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) to acquire up to 20% of Multapplied in exchange for cash and other consideration to be determined upon execution of a definitive agreement.
“Victory Square has a stellar track record of rapidly growing and scaling businesses into impactful global market leaders,” states Johan Arnet, CEO of Multapplied Networks. “Our vision of enabling a global decentralized private Internet is nearing fruition and we require a dynamic partner with whom to properly grow and deploy this technology. Victory Square is that partner.”
Multapplied’s focus will be to utilize our proprietary Software-defined Wide Area Networking software as the basis of a global decentralized Internet offering that expands the availability and reach of high reliability, high bandwidth private networking and Internet to more end-customers.
“This acquisition exemplifies Victory Square’s mandate to continue investing in companies with game-changing potential that are redefining the industries in which they operate,“ said Victory Square’s CEO, Shafin Diamond Tejani.
“We believe in Multapplied’s vision of a global decentralized Internet and look forward to continuing to find synergies between their networking capabilities and all of our portfolio companies,” continued Tejani. “We are confident that a strategic implementation of blockchain technology into Multapplied’s platform will allow Multapplied to build upon its impressive global network of service provider clients.”
Multapplied has a clear go-to-market strategy for a global blockchain-enabled networking economy. In consultation with Victory Square portfolio company Blockchain Assembly, we will look to raise additional funds for the development and implementation of our blockchain platform by performing a Token Generation Event.
Multapplied is the only white-label platform designed exclusively for service providers to deploy SD-WAN solutions easily for their customers. We deliver our technology through a portfolio of global channel partners, including major service partners in North America, Europe, Asia, Africa, and Australia. The technology is designed to enable service providers to seamlessly integrate SD-WAN technology into their existing service offerings, while reducing cost, increasing quality of service, and enhancing customizability and performance monitoring.
For further information about the company contact: Multapplied Investor Relations
Telephone: 1 (866) 578-6957
About Multapplied: Multapplied Networks is changing the traditional telecom and networking model with a simple and reliable Internet-enabled software platform. Our SD-WAN platforms powers Service Provider networks and allows them to simplify enterprise and SMB customer networks while mitigating the risk of downtime by combining multiple Internet connections into a single, resilient, and easily-managed virtual connection. In short, we make the Internet better for organizations by offering a wide range of features and functionality to relieve issues related to scale, security, and quality.
About Victory Square: Victory Square is a venture builder that creates, funds and empowers entrepreneurs predominantly focused on Blockchain Technology, Virtual Reality, Artificial Intelligence, Personalized Health, Gaming and Film. As a technology incubator, Victory Square invests in game-changing entrepreneurs who are provided access to education programs, global mentorship networks, distribution partners, creative workspaces, resources and other forms of operational support to help them scale internationally.