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Digital Utilities Ventures (DUTV) Completes Acquisition Of TORQ Communications, LLC
DUTV to become an innovator in Internet Protocol Television (IPTV)
By: PR Newswire
Jan. 14, 2013 12:27 PM
NEW YORK, Jan. 14, 2013 /PRNewswire/ -- Digital Utilities Ventures, Inc (Pinksheets: DUTV), an innovator in Internet Protocol video transport systems, is pleased to announce it has finalized the merger to acquire 100% of TORQ Communications. Garry McHenry, CEO of Digital Utilities stated, "TORQ has network and interconnections with major network providers worldwide and will allow the DUTV distribution of video content to be a powerhouse that is dedicated to surpassing consumers' expectations, both with the innovative content, and new vertical markets for Internet Protocol Television (IPTV). The merger will be a major corporate component that allows a new look and feel of the Vizzage brand."
Vizzage is creating a format that represents a key expression of the future, and profitability in IPTV. According to McHenry, the company will focus on merging both new and existing technologies to bring forth innovation in the marketplace that will provide IPTV centered products that will enable a whole new kind of programming to reach audiences everywhere. The end result is Vizzage will demonstrate the powerful ability to be moved by innovative, dynamic programming that challenges the imagination and reinforces the idea that life is an amazing experience.
The details of the TORQ merger including new corporate strategies, revenue projections, potential partnerships with U.S. based carriers, and the assignment of a new TORQ management team, will be announced in the coming weeks. "Most of all I want to thank our loyal investors and supporters that have waited so long for this merger to be completed. It took much longer than anyone had expected but fortunately we have successfully completed this deal and look forward to moving full speed ahead this year with our IPTV vision and technologies," concluded McHenry.
About Digital Utilities Ventures, Inc – Digital Utilities Ventures is an intellectual property company and advanced technology incubator incorporated in the State of Delaware in June 2006. The Company was formed to utilize its innovative, Internet to TV and Cell Phone Communications System for the domestic and international Quad-Play/Convergence services market. The Company went public on March 26, 2009. Website: www.DUTV.US
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Safe Harbor Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE Digital Utilities Ventures, Inc
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