San Mateo, CA, April 16, 2011 --(PR.com
)-- In a strategic move to expand its portfolio of service offerings, Provectus IT, Inc has acquired top Eastern European mobile application development service provider Appmade Lab. This cash and equity transaction brings the two information technology innovators together under one roof, creating the market leader with broad range of service, technology and industry offerings.
Appmade Lab acquisition brings to Provectus IT over nine years of consumer-facing solutions development experience across all major mobile platforms. The transaction will also boast an enviable list of global clients and start-ups worldwide.
The newly created mobile practice “Application Studio” (http:// studio.provectus-it.com) places Provectus IT, Inc to be the market leader in mobile application development with a combined annual income in excess of $1.8 million.
Provectus IT Chief Executive Gene Galanter said:
“Since we launched Provectus IT, Inc. in July of 2010 with just two founding partners, we have seen phenomenal organic growth in our business. Built on the principles of innovation and engineering ingenuity, the company has brought together over fifty the most talented software product manufacturing professionals in Eastern Europe. In 2011, we decided to supplement this achievement with a new acquisition strategy that would see successful, complementary independent businesses become part of the Provectus IT family. We are immensely proud to have acquired Appmade Lab which is the ‘crown jewel’ in the field of mobile application space and are keen to consider further acquisition partners in 2011.”
Artem Petrov, Appmade Lab managing director is recognized in the mobile applications industry as the leading name and visionary. Mr. Petrov adds:
“Together with Provectus IT, we will be able to offer clients a much broader, richer services. Leveraging Provectus IT's deep domain expertise in building enterprise software applications we can now offer critical new services such as enterprise mobile solutions development. But, most importantly the team at Provectus IT has a philosophy and approach that really matches the Appmade Lab culture and spirit. We are hugely excited about the prospect of what we will achieve together in the future."