Adamant Holding Inc Has Entered into an Agreement to Acquire 51% Ownership of EuroproNET, Telecom Company Located in Bosnia i Hercegovina
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2023) - Adamant Holding Inc. (CSE: ADMT) (FSE: U06 ) (OTC Pink: UCCPF) ("Adamant") following the previous letter of intent has entered into an agreement to acquire 51% interest in EuroproNET Bosnia d.o.o ("EuroproNET" or "the company") which holds multiple service telecom licenses and has contracts with some of the largest international conglomerates and government groups. These fillings can be accessed from the SEDAR website.
Overview of EuroproNET:
EuroproNET is a fully Telecom licensed and a leading Internet service provider (ISP) founded in 2000 offering a variety of services including: Internet access for private and business users; Datacenter Solution with two main location in the center of Sarajevo, a variety of Wireless Solution and Telecommunications services; web services with development and placement of web presentations; online marketing, business solutions based on information technologies; and technical support.
Currently EuroproNET offers services for countries in the southeast European region and offers competitive pricing while following European guidelines. The company was granted a countrywide ISP license in 2002, followed by a network operator license (Regional WL Network and fixed public telephone services license in 2006). The company holds a fiber optic license, a radio wireless license, fixed telephony license and a carrier selection license. As of today, EuroproNET focus is on southeastern European nations such as Albania, Kosovo, Moldova, Montenegro, Northern Macedonia, and Serbia, where the company plans to be an industry leader.
"This imminent acquisition signifies our next phase in the telecom space as the licenses owned by EuroproNET will bolster our business model including marketing and deployment of our digital division's solution to Europronet's customers , and allow Adamant to instantly gain decades of relationships and contracts which will benefit all stakeholders," - CEO Andrea Pagani stated.
Some of the larger clients of EuroproNET include:
Coca Cola Beverages d.o.o Bosnia i Hercegovina
Uniqa Osiguranje d.d. Bosnia i Hercegovina
Vienna Osiguranje Bosnia i Hercegovina
Hrvatski Telekom d.d. Bosnia i Hercegovina
INFOSOFT d.o.o. Bosnia i Hercegovina
Philips Consumer Lifestyle B.V. Bosnia i Hercegovina
Energoinvest d.d. Bosnia i Hercegovina
Raiffeisen BANK d.d. Bosnia i Hercegovina
INTESA SANPAOLO BANKA d.d. Bosnia i Hercegovina
AUTCON/EUFOR (European Union Force in, Supporting the Armed Forces of Bosnia and Herzegovina (AFBiH)
Adamant's Management will drive Europronet's focus to create a lead generation strategy to attract Enterprise customers in the Balcan region as "Large Enterprise" and expand the footprint looking for SMB business thanks to the synergies with the rest of the subsidiaries in Adamant Holding Inc.
Global Internet Service Providers (ISP) Analysis & Outlook
The global internet service providers (ISP) is expected to grow at a CAGR of 4.4% between 2022-2028 from US$475.17 billion in 2021 to US$644.87 billion by 2028, with the expansion of mobile network coverage and increasing mobile data adoption. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR while Rest of European market (as defined in the study) will reach US$111.7 Billion by the year 2027. The European union will aim to provide Europeans with faster internet speeds, and increase household speeds above 100 Mbps.
Wireless broadband service is positioned to demonstrate the fastest growth through the forecast period to become the largest segment among all broadband connections by 2030. The rapid growth is supported by technological advancements and user convenience. Unlike other broadband connections, wireless services use radio waves or Wireless Fidelity (Wi-Fi) instead of cables. The fast-paced evolution of mobile wireless services from 3G to 4G and now, the nascent 5G technology has further ramped up the demand and application of wireless broadband services.
Terms of Acquisition
Adamant Holding Inc. will report in next press release the Terms and Condition for the SPA, which will be closing end of Q1 or beginning of Q2.
Andrea Pagani, Adamant CEO
Telephone: +39 334 661 8604
ADAMANT Global Holding is the owner of Oktacom Inc, a licensed Global Telecom Carrier within the international VoIP (voice over IP) wholesale business, and Brilliance ltd, a cloud-based mobile service company which provides high-quality voice termination to a market driven by the growing activity in online communications and commerce; it has designed a software application for Apple iOS and Android, like SKYPE and WhatsApp.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/151111