(NWMT) NewMarket and (NVAE) Savanna East Africa Announce Two Acquisitions Following Kenya Trade Mission With United Nations Inte
03 Dicembre 2010 - 4:05PM
Marketwired
NewMarket Technology, Inc. (PINKSHEETS: NWMT) (OTCQB: NWMT) and
Savanna East Africa, Inc., (PINKSHEETS: NVAE) (OTCQB: NVAE) today
announced two acquisitions following the Greenfield Partnership
Program Trade Mission and Private Sector Disaster Risk Reduction
Pilot Program in Kenya this past October.
The United Nations International Strategy for Disaster Reduction
(www.unisdr.org) joined the Greenfield Program and the Small Equity
Initiative in Nairobi this past October on a Trade Mission intended
to stimulate small business investment in high growth potential
enterprises. The pilot program is intended to urge private sector
innovation and investment aimed at reducing disaster risk. To learn
more about the Private Sector Disaster Risk Reduction Pilot
Program, please visit: http://tinyurl.com/24o2jbb.
The October conference began with a welcome from the Kenya
Investment Authority (www.investmentkenya.com). During the Trade
Mission, team members conducted a series of educational seminars
for entrepreneurs including an introduction to capital markets and
early and development stage best practices in high growth markets.
Approximately 200 entrepreneurs attended the conference with
several entrepreneurs pre-qualified by the Kenya ICT Board
(www.ict.go.ke) presenting their business plans to the Trade
Mission team. Kenya ICT Board is focused on promoting Kenya as an
ICT destination while increasing the country's skilled labor pool
and socio-economic enrichment of Kenyan society. The trade mission
was hosted by Savanna East Africa, a Greenfield Partner company
focused on the growing economies of East Africa. The CEOs of China
Crescent Enterprises, Inc. (OTCBB: CCTR) and NewMarket Technology
and the incoming CEO of NuMobile, Inc. (OTCBB: NUBL) also joined
the trade mission delegation to develop opportunities in East
Africa for their respective companies. China Crescent and NuMobile
are also both participants in the Greenfield Partnership.
Yesterday, Savanna East Africa announced the first of three
acquisitions anticipated before year-end. Earlier this year,
Savanna launched a business plan expansion strategy directed at
acquiring and developing a portfolio of high growth potential
operations in Africa. The acquisition yesterday marks the first
acquisition after months of preparation. Management anticipates
rapidly executing two additional acquisitions. The three
acquisitions are expected to substantially contribute to the
Company's $10 million in revenue anticipated in 2011.
NuMobile also announced yesterday the acquisition of Kruze
Technologies, Ltd. in Nairobi, Kenya. This is the first of two
acquisitions planned to establish a foothold for NuMobile in the
rapidly growing Mobile Banking market in Africa.
Greenfield Program Webcast NewMarket has
released a Greenfield Partnership Program Webcast reviewing the
Company's operational and financial benefits since founding the
program last year. The Webcast also reviews Greenfield program
participant companies, the Trade Mission to East Africa and the
recently announced pilot program for the United Nations
International Strategy for Disaster Reduction (UNISDR). The Webcast
also discusses the current state of small business capital
formation in the U.S. and globally, the mission of the Greenfield
program and the tentative Trade Mission program for 2011.
The Webcast is currently available for review at
www.newmarkettechnology.com on the Investor Relations page titled
'NewMarket Technology Greenfield Program Webcast: United Nations
Benchmark.'
About the United Nations International Strategy
for Disaster Reduction (www.unisdr.org) The International
Strategy for Disaster Reduction (ISDR) is a strategic framework,
adopted by United Nations Member States in 2000, aiming to guide
and coordinate the efforts of a wide range of partners to achieve
substantive reduction in disaster losses and build resilient
nations and communities as an essential condition for sustainable
development.
About NewMarket Greenfield Partnership
Program NewMarket launched the Greenfield Program last year to
facilitate the start-up and early stage development of high-growth
potential businesses. The Greenfield Program concentrates on early
stage, rapid growth opportunities in the world's emerging markets,
with program participants in China, Southeast Asia, South and
Central America and East Africa, in addition to a handful of
program participants in North America.
About Savanna East Africa, Inc.
(www.savannaea.com) Savanna East Africa, Inc. (PINKSHEETS: NVAE) (OTCQB:
NVAE) launched an updated corporate strategy early this year to
pursue several business lines in the growing economy of East
Africa, initially in Kenya. Savanna has already begun several
initiatives in the region to include initiatives in the Technology,
Utility, Housing and Health products industries. The Company is
also continuing to grow its existing oil and gas reclamation
business with new management and business strategies. Savanna East
Africa is a fully-reporting company with audited financial
statements quoted on the new 'OTCQB.'
About NewMarket Technology, Inc.
(www.newmarkettechnology.com) NewMarket Technology is a global small business
incubator. NewMarket's current portfolio of operations provides
systems integration, technology infrastructure services and
emerging technology. NewMarket's operations strategically focus on
providing technology and support services in emerging and
developing economies with high growth rate potential where
technology purchasing is on the rise. In addition to its base of
operations in North America, NewMarket has operations today in the
growing economies of China, Southeast Asia, Africa, Brazil and
Northern Latin America. Overall, NewMarket reported over $95
million in revenue for 2008 and reported over $98 million in
profitable revenue for 2009.
NewMarket's operations provide services and support for both
brand-name technologies, such as Microsoft, as well as emerging
technologies ranging from mobile computing to various security and
wireless broadband technologies. NewMarket's rapid growth since
2002 placed the Company on the Deloitte Technology Fast 500 for 5
consecutive years. NewMarket was recognized as the third fastest
growing technology company in the United States in 2006 and the
number one fastest growing technology company in North Texas for
two years in a row.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995 This press release contains forward-looking
statements that involve risks and uncertainties. The statements in
this release are forward-looking statements that are made pursuant
to safe harbor provision of the Private Securities Litigation
Reform Act of 1995. Actual results, events and performance could
vary materially from those contemplated by these forward-looking
statements. These statements involve known and unknown risks and
uncertainties, which may cause NewMarket's actual results in future
periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include,
among other things, product demand and market competition. You
should independently investigate and fully understand all risks
before making investment decisions.
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Contact: NewMarket Technology, Inc. Investor Relations Email
Contact 214-722-3065
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