Agora Holdings Inc. Acquires RiNet Telecom, Accelerating its Growth in Technology Sector
Jun 21, 2017
TORONTO, ON--(Marketwired - Jun 21, 2017) - Agora Holdings Inc. ( OTC PINK : AGHI ) on June 13, 2017 announced that it closed the definitive equity purchase agreement dated June 12, 2017 and has acquired RiNet Telecom ("RiNet"). The transaction will give Agora Holdings a significant presence in the large and growing market for telecommunications technology which has been a strategic priority for Agora. RiNet reported a $500,000-dollar revenue from contracts in 2016 with revenue projected to grow to 1.5 million in 2017 as the number of contracts are more than doubling. RiNet, a telecommunications contractor, delivers telecom and security solutions from the design to engineering phase, including cable and fiber optic installations, structural wiring and security surveillance. At the closing meeting, Agora was excited about adding RiNet to its profile and commented that it is "excited to embark on a new era of growth with our partners in the industry." About Agora Holdings Inc. Agora Holdings Inc., together with its subsidiary Geegle Media and affiliates, is an entertainment and media enterprise. Agora Holdings Inc. brings together media and technology, driving innovation to enhance online entertainment in five business segments: media networks, TV, studio entertainment, consumer products and interactive media. Disclaimer -- Forward-Looking Statements This press release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. Forward-looking statements in this release are made as of the date hereof and Agora Holdings Inc. undertakes no obligation to update such statements.