MINNEAPOLIS - January 18, 2021 - (Newswire.com)
Minnesota based early-stage software startup KloudGaze Inc. has finalized an agreement with a publicly listed company named Life On Earth Inc., (OTC: LFER) in an all stock transaction.
KloudGaze was founded by Aditya Sharma, who is the majority shareholder of the Company. KloudGaze, Inc. is the second software company founded by Aditya Sharma. Explaining the rationale of the deal, Aditya Sharma says, "The pandemic has taught founders to think outside the box in order to meet their growth requirements. The traditional Venture Capital options for smaller companies is not the only option available. We chose to become part of a publicly listed company because the markets are valuing companies in our industry a lot more favorably than before. We felt that time to be part of a public company was now instead of several years down the road."
With the asset sale, KloudGaze will become one of the largest stakeholders in a public company, which has pivoted to be a software technology company and that will offer an innovative portfolio and the industry's only "Code Level Dependency Mapping Capabilities" that helps companies reduce application development costs by up to 50%, and that will ensure compliance at the application code levels to address key regulations like the GDPR, CCPA, PIPEDA and more.
Towards the larger investment strategy, Aditya Sharma adds, "The public company, that has acquired our assets, is a fully reporting and transparent company with quarterly filings and annual audits. We are helping them put together the team we feel positive about in order to take what we've built, as well the relationships we have, to the next level in order to bring the portfolio of software products to market quickly. As a public company, we will have access to the capital markets to help fuel any growth that we expect from the KloudGaze software infrastructure that we created. They will make further announcements about the advancement of the KloudGaze technology, shortly."
Aditya Sharma further added, "With this new strategic move, we will put together an extended leadership team in place to make KloudGaze a global company in a very short order.
"There's an aggressive roadmap that includes strategic partnerships in the technology space that will result in KloudGaze becoming a significant technology, in the Cloud enterprise and software compliance space very soon."
KloudGaze will add 50+ jobs in Minnesota, shortly. As Aditya rightly puts it, "Who says you've got to be in the Silicon Valley to create the NEXT BIG ENTERPRISE SOFTWARE?"
About KloudGaze, Inc.
KloudGaze, Inc. is a Minnesota-based enterprise software provider enabling rapid innovation and keeping the operations safe, compliant and manageable. It was founded by Aditya Sharma who conceived the flagship product to help organizations innovate and modernize legacy systems while minimizing cost and risk of business disruptions and ensure regulatory compliance.
For more information, please visit www.kloudgaze.com.
KloudGaze LFER Merger.docx
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Original Source: KloudGaze, Inc. Enters Into An Asset Purchase Agreement, The Newest Tech Unicorn Is Born In Minnesota