Yaterra Ventures Corp. Diversifies Operations with Entrance into $500 Billion Software Enterprise Ma
Yaterra Ventures Corp. Diversifies Operations with Entrance into $500 Billion Software Enterprise Market
LUBBOCK, Texas--(BUSINESS WIRE)-- Yaterra Ventures Corp (OTC: YTRV) announces today that it has tentatively agreed to acquire a revenue producing software solutions company operating in the $500 billion IT industry. Executives have identified an attractive acquisition target and have entered discussions toward an LOI pending full due diligence on the M&A candidate.
"As Mark Benioff, cloud computing guru and founder of salesforce.com, states, 'Cloud computing is built upon a multi-tenant technology model that allows users to benefit from a shared architecture. That makes computing democratic; it serves companies of all sizes. It is not just for the rich, but for governments and organizations in the developing world.' We at Yaterra plan to capitalize on this ever-evolving trend in technology for the benefit of immediate revenues on our books and overall shareholder value," states Yaterra CEO, Cedric Atkinson.
He continues, "We are aggressively seeking low-cost revenue-producing opportunities with growth potential, which will have an immediate benefit on Yaterra's balance sheet. We've definitely found our niche in the State of Texas regarding oil production and well lease acquisitions, however it's always been a plan of Yaterra's to harvest additional business models in a focused range of industries to ensure company growth for the long-term, with multiple streams of revenue. Our venture into tech is something I've always been passionate about and it is my opinion that discussions with our current candidate will result in something dynamic with sustainable growth for Yaterra and its shareholders."
The company expects to complete due diligence and proceed with the pending acquisition in the next two weeks. As well, the company's negotiations to purchase a lot of wells in the State of Texas as announced last week is going "very well," according Yaterra execs, and is expected to materialize as a finalized acquisition in the coming days. The purchase negotiation now also includes 2 additional wells for a total of 6 wells with recoverable reserves from a family-owned operator. These wells are estimated to bring in an average of 2.5 - 8 BOPD per well once re enter work is completed.
Company execs are confident that these initiatives will generate over $1m within the first 12 months of implementation, and will continue seeking opportunities to diversify its operations and to build shareholder value.
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Yaterra Ventures Corp
Cedric Atkinson, 718-710-4508
KEYWORDS: United States North America Texas
The article Yaterra Ventures Corp. Diversifies Operations with Entrance into $500 Billion Software Enterprise Market originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.