Cyberlux Corporation (OTC:CYBL) Announces the Acquisition of Kreatx SHPK to Build out its Infrastructure Software Solution Unit to deliver on the Company’s Global SaaS Strategy with Expansion set for North America, Europe and South America
Cyberlux reaches agreement to acquire Kreatx SHPK to support the Company's Infrastructure Software Solutions Strategy and deliver its Global Digital Software Platform to serve both Government and Commercial markets worldwide.RESEARCH TRIANGLE PARK, …
Cyberlux reaches agreement to acquire Kreatx SHPK to support the Company's Infrastructure Software Solutions Strategy and deliver its Global Digital Software Platform to serve both Government and Commercial markets worldwide.
RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / December 27, 2021 / Today, Cyberlux Corporation, (OTC PINK:CYBL), an advanced digital technology platform company leading the digital transformation evolution across industries with advanced unmanned aircraft systems (UAS), LED lighting solutions, renewable energy and infrastructure technology, and Software-as-a-Service (SaaS) solutions, announced that the Company has acquired Kreatx SHPK (https://www.kreatx.com), a developer of innovative software solutions. Kreatx has extensive knowledge and experience in building SaaS solutions and end-user applications, which will support Cyberlux in building end-to-end SaaS offerings, required by global governments and commercial customers. With this transaction, Kreatx will add to the foundation of the Cyberlux Infrastructure Software Solutions (Cyberlux ISS) business unit and advance the Cyberlux strategy for its new Cyberlux Digital Software Platform, a core business grow strategy in 2022.
As a result of this acquisition, Cyberlux Corporation owns 100% of Kreatx SHPK in a transaction comprised of both shares of common stock valued between $0.020 and $0.25, and a cash component paid out over a one-year earnout period, with certain equity incentives for continued revenue growth levels, project implementation milestones, and technology and intellectual property development objectives. Cyberlux intends to make strategic investments for ongoing technology development and working capital investments for further global business expansion.
Founded in 2011 and headquartered in Tirana, Albania, a NATO member country, Kreatx is one of the key providers of SaaS solutions in the region, with business applications that encompass No Code/Low Code platform, Data Management, E-Invoicing, Customer Relationship Management, Contract Management, Digital Archiving, Document Management, Workforce Management, Data Management, Accounting and Finance, Billing, Human Resource Management and Payroll. Kreatx also provides On-Demand Project Development Services and System Integration Services to both government and commercial customers. Kreatx joins Cyberlux with a staff of 38, including 30 software development and customer support engineers. Importantly, this acquisition also provides Cyberlux with existing customers, revenues, and technical capabilities to execute on the Digital Software Platform strategy to deliver digital solutions, create ongoing growth in revenue, profit, and shareholder value. Kreatx capabilities extend beyond typical software providers delivering point products, offering a low-code development platform with out-of-the-box capabilities to integrate disparate data and quickly create business applications. These features will broaden the Cyberlux ISS technological competency and help accelerate the delivery of digital solutions across multiple industries.