Tampa, Florida (PRESS RELEASE – February 19, 2010) — Innovative Software Technologies, Inc. (INIV.PK) announced the signing of a Letter of Intent today to purchase industry leader MyBizHomepage, Inc. The transaction will be an asset purchase and Innovative will be employing the current CEO of MyBizHomepage.
MyBizHomepage, based in Washington, D.C., is a leader in providing small businesses with business financial intelligence services formerly only available to larger companies. The Company delivers these services through a SaaS (Software as a Service) Web 2.0 platform and is one of the emerging players in Cloud Computing with a primary focus on the Small-Medium Business Market.
Innovative’s CEO, Robert Rudman stated, “Small businesses individually might not appear significant compared to the large corporate giants and Fortune 500 companies, so these businesses are often overlooked. However, they represent a tremendous business opportunity in aggregate due to their need for bundled goods and services using the Web 2.0 platform. The acquisition of MyBizHomepage provides Innovative with the tools needed to speed our entry into this receptive market.”
“The proprietary products of MyBizHomepage and its distribution channels servicing small businesses around the world combined with the financial capabilities of Innovative creates an excellent combination that will bring an entirely new generation of products and services to the backbone of the global economySmall Business,” said Peter Justen, CEO of MyBizHomepage.