Message #34 From:
NewsBot Date: December 11, 2006 07:00:00 AM
CYOS News CYOP Systems Announces of Exploration of Strategic Options Including M & A Alternatives
LONDON--(BUSINESS WIRE)--CYOP Systems International Inc. (OTCBB:CYOS.OB),
a provider of online casino software, is pleased to announce that it
will be investigating strategic options for the company including
mergers and/or acquisitions.
CYOP will continue to promote its management of iGaming software and
build non-US-based business relationships. However, the Company has now
also begun looking at alternative technology companies with which to
enter into joint venture, to merge with or to acquire.
Whilst the Company cannot guarantee the success of this strategy, it
does feel confident that it has the knowledge and expertise to manage
such a transaction subject to shareholder approval. Furthermore,
exploring these calculated options will not adversely impact day-to-day
operations or the company’s ability to service
its customer base.
Patrick Smyth, CEO of CYOP, noted, “Our
exploration of various tactical alternatives is an effort to maximize
shareholder value whilst using our assets and capabilities in the
eCommerce marketing and operations. We are going to determine whether it
would be best for us to invest in, enter a joint venture or merge with
an existing revenue-generating entity.”
About CYOP
CYOP is a developer and provider of online gaming solutions and services
for the iGaming industry. The Company’s range
of products and services include financial transaction platforms for
on-line casinos, online gaming software, gaming websites, poker portals
and integrated e-commerce transaction technology for on-line merchants.
This press release may contain forward-looking statements which are
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that actual
results may differ materially and all forward-looking statements involve
risks and uncertainties including, without limitation, risks associated
with the Company's financial condition and prospects, legal risks
associated with Internet gaming, risks of governmental legislation and
regulation, risks associated with market acceptance and technological
changes, risks associated with dependence on third party software
providers, risks relating to international operations, and risks
associated with competition..
