Acquired Sales Corp. (AQSP), which owns Big Data management and Complex Event Processing analytics leader Cogility Software Corporation (www.cogility.com), San Jose, CA, today announced that it has signed a letter of intent to acquire Defense & Security Technology Group, LLC (www.dstechgroup.com), Chantilly, VA. Minh Le will become the Executive Vice President of AQSP and will continue to serve as the President and CEO of DSTG. The acquisition consideration includes 100,000 shares of AQSP common stock, and options to acquire an aggregate of 200,000 shares of AQSP common stock at exercise prices between $3.18 and $5.00 per share.
Defense & Security Technology Group, LLC ("DSTG") collaborates with clients to help its leaders make distinctive decisions leading to substantial improvements in enterprise performance. Founded by Minh Le in 2007, DSTG is currently supporting a number of programs across the military, intelligence, law enforcement, and commercial communities. In an era of Federal budget tightening, DSTG is focused on helping our armed services and Federal agencies improve military and mission readiness while becoming even more cost-efficient.
Mr. Le is a former Partner and Executive Vice President at Accenture who specialized in merger & acquisition integration, complex enterprise reengineering, operations and supply chain management, and system integration. Prior to joining Accenture, Mr. Le was a finished gasoline and distillate trader and held several managerial and technical positions at ExxonMobil. Mr. Le holds an MBA from Georgetown University, and a B.S. in Computer Science from the University of Maryland, College Park.
Minh Le stated, “Our military, homeland security and law enforcement leaders require adaptive solutions that can keep pace with rapidly evolving requirements to stay ahead of our adversaries. Leaders require decision support solutions that can dynamically filter out the noise and provide actionable intelligence to make timely decisions. DSTG strategic consulting services are tightly integrated with Cogility rapid modeling software to provide seamless enterprise solutions that are available in 30-day sprints to our clients. We believe that speed and adaptability are strategic national defense and security capabilities."
Gerard M. Jacobs, the CEO of Acquired Sales, stated, "DSTG and our Cogility Software subsidiary are a perfect fit with each other. Minh Le's intelligence and creativity allow DSTG to perceive opportunities for Cogility software solutions that assist clients in making accurate and cost-effective decisions on programs that often involve Big Data management or Complex Event Processing analytics. We enthusiastically welcome Minh as a key member of Acquired Sales' senior management team. I expect that Minh will create significant value for our shareholders by helping us craft strategies that will allow DSTG and Cogility to grow both organically and via acquisitions."
Cautionary Statements Regarding Forward-Looking Information
This release may contain forward-looking statements, including statements about Acquired Sales Corp.'s, Cogility Software Corporation's and Defense Security & Technology Group, LLC's financial condition, results of operations, earnings outlook and prospects. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project" and other similar words and expressions.
These forward-looking statements involve certain risks and uncertainties. Our ability to predict results or the actual effects of our plans and strategies is subject to inherent uncertainty. Factors that may cause actual results or earnings to differ materially from these forward-looking statements include those discussed and identified in filings we make with the United States Securities and Exchange Commission ("SEC"), including the risk factors described in the Acquired Sales' Form 8-K which we filed with the SEC on October 4, 2011.
Because these forward-looking statements are subject to assumptions and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this release. All subsequent written and oral forward-looking statements concerning the matters addressed in this release and attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this release. Except to the extent required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release.
Xavier Hermosillo, (310) 344-1494