SAF Tehnika
SAF Tehnika acquires 100% of “SAF Services” LLC shares
DGAP-News: SAF Tehnika 2015-04-24 / 15:30 --------------------------------------------------------------------- Riga, Latvia, 2015-04-24 15:30 CEST (GLOBE NEWSWIRE) -- 'SAF Tehnika' JSC announces that it has purchased 50% of 'SAF Services' LLC shares from 'STREAMNET' OÜ, (Reg. Nr. 12245741, Estonia) according to an agreement signed on April 23, 2015, thus becoming the 100% owner of 'SAF Services' LLC. 'SAF Services' was established in the State of Delaware, USA in August 2012 as a joint venture with 'STREAMNET' OÜ where each founder held 50% of the shares. The aim of the company was to provide local customers with services related to the creation, long-term maintenance and management of data transmission networks. Although 'SAF Services' has successfully built its first trial network with 'SAF Tehnika' equipment and the customer acknowledged it as built according to the defined requirements, the cooperation agreement wasn't signed and 'SAF Services' was not able to get return on this investment. Further development of this business is therefore frozen and the founder 'STREAMNET' OU decided to discontinue further cooperation. 'SAF Tehnika' will continue promoting other new products through 'SAF Services' LLC in the North America market. For additional information: Aira Loite SAF Tehnika COO, Member of Board Phone: + 371 67046825 E-mail: aira.loite@saftehnika.com News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-04-24 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: SAF Tehnika Latvia ISIN: LV0000101129 End of News DGAP News-Service --------------------------------------------------------------------- 348485 2015-04-24
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