Epazz Inc. provides customized Web applications for corporations, educational institutions and various entities in the public sector. The companyâ€™s two wholly owned subsidiaries are DeskFlex Inc. and Professional Resources Management.
The company today announced it has signed a letter of intent for the acquisition of an enterprise resource planning software company (name not disclosed in press release) based in the Midwest. According to the press release, the $450,000 deal will be finalized in the third quarter of 2009. The company expects the acquisition to benefit current and future customers as it continues to develop additional software tools.
â€œThis acquisition provides a solid customer base of government agencies which opens up many opportunities to cross sell customers on Epazz’s BoxesOS, DeskFlex and Agent Power. With the synergies of our companies the customers can continue to look forward to innovative, effective and efficient software tools geared to enhancing their business process,” Epazzâ€™s CEO Shaun Passley stated in the press release.
Founded in 1991, Epazz has a history of positive cash flow and profitability. For the fiscal year ended December 2008, the company reported revenue of $500,000 (unaudited). Todayâ€™s announcement is in line with the companyâ€™s strategy of offering unique, competitive and efficient software.
The company is currently in acquisition talks with several other B2B software companies, though it has not signed any additional formal letters of intent. The company intends on moving forward with these deals contingent on its ability to raise additional capital.