This Acquisition Begins Puget's Growth Strategy
ENGLEWOOD, CO / ACCESSWIRE / February 4, 2015 / Puget Technologies, Inc. (the "Company") (PUGE), is pleased to announce the completion of the asset acquisition of Leisure Logic Systems Inc. (LLTS), an experienced travel retailer. The assets consist primarily of a unique software package, supporting both Windows and Linux based solutions that were developed by LLTS. In conjunction with the asset purchase, the terms of which were disclosed in an 8K filing with the SEC, the Company has formed a new wholly owned subsidiary for the new vacation software business, containing the LLTS assets. The acquisition includes Steve Nicol, President of LLTS, an experienced travel executive, along with a seasoned team of developers.
"We are very excited about bringing this seasoned venture into the Company," stated President & CEO Larson Elmore. "We are committed to delivering returns to our shareholders through a diverse stable of operations and LLTS is our first move in that direction."
LLTS, located in Denver, Colorado, has excelled in developing unique travel software distributed via the Internet. The Company will utilize the already developed software, including a proprietary algorithm, to generate a substantial customer base and create a vast supplier network. Our plans include expanding the retail travel outlets and developing a global presence.
"We're extremely excited to become a part of the Puget family and look forward to a long a mutually beneficial endeavor," stated Steve Nicol.
Growth strategies include web based private label solutions for retail travel agents, small to medium-sized businesses, and affinity groups. The products stand out in the market for their usability and media-rich search results. The integrated travel platforms stand out in the market for their usability, providing users with a secure interface to shop for and book flights, hotels, car rentals and trip activities in a media-rich search environment.
About Puget Technologies, Inc.
Puget Technologies is a diversified technology company identifying acquisition opportunities. The Company's pursuit is for leading-edge technologies that are ready for rapid commercialization. The Company's mission is to discover the potential of various ideas, inventions, business opportunities and business models that can be developed and introduced to the world to provide sustainable cost saving solutions. This multiple discipline acquisition approach is designed to reduce risk exposure, generate multiple streams of revenue, and help private companies accelerate funding timelines.
For more information, visit www.PugetTechInc.com.
This 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: Puget Technologies, Inc.