DUBAI, UAE / ACCESSWIRE / October 6, 2014 / Global Equity International, Inc. (GEQU), and its fully owned subsidiary, Global Equity Partners, Plc., a business consulting services firm to small and medium sized businesses worldwide, today announced that it has signed an agreement with Duo World Inc., a software company with subsidiaries in Sri Lanka, Singapore and India. Global Equity International Inc. through its subsidiary Global Equity Partners Plc. will assist Duo World Inc. with pre-IPO funding as well as a public listing of its shares on a recognized international stock exchange. Global Equity Partners Plc. will hold a significant equity position in Duo World, post-IPO.
Peter Smith, CEO of Global Equity International Inc., said, "The subscription based software industry is a rapidly growing one where software applications are hosted on a public/private cloud platform with a monthly subscription model, known as SaaS, or ‘Software as a Service’. This industry has grown rapidly as traditional media subscriptions as well as subscriptions for services and apps continue to migrate to cloud-based software solutions. This growth is echoed in recent estimates that forecast this market to reach $200 billion in the US by 2015. We believe our relationship with Duo World offers GEQU a significant opportunity to participate in this growing market."
Duo World Inc. (Nevada) is the holding company for Duo Software (Pvt.) Limited (http://duosoftware.com/) an award-winning developer of cloud-based subscription management software and services based in Sri Lanka. The company has provided products and services for this industry since 2007 and its customers include leading companies representative of a variety of industries. Duo World has a solid reputation as a provider of solutions for its customers in areas that include customer life cycle management; subscriber management; customer care; billing; and contact center management. The company’s India-based subsidiary, Duo Software India, provides a dedicated sales team to support the enterprise versions of two applications specifically developed for PayTV. Duo Software has been independently valued at more than $300 million US by the accounting firm Ernst & Young.
About Global Equity International Inc.
Global Equity International Inc., through its wholly-owned subsidiary Global Equity Partners Plc., advises worldwide business leaders with their most critical decisions and opportunities pertaining to growth, capital needs, structure and the development of a global presence. With offices in Dubai and London, Global Equity has developed significant relationships in the US, UK, Central Europe, the Middle East and South East Asia to assist clients in realizing their full value and potential by bringing them to external capital and resources that place an emphasis on collaborative thinking. Furthermore, because Global Equity has offices in key financial centers of the world, they are able to introduce their clients to a unique opportunity of listing their shares on any one of the many stock exchanges worldwide. Global Equity Partners Plc. will hold significant long-term equity positions in all of the companies that it represents.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the Company’s industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The company assumes no duty to update its forward-looking statements.