Cloudweb Enters Agreement to Acquire Australian Cloud Hosting Firm

WARWICKSHIRE, UNITED KINGDOM--(Marketwired - Feb 23, 2016) - Cloudweb, Inc. (OTC PINK: CLOW) today announced that it has executed a contract with ZangIT Hosting to acquire 100% of its assets in Australia which includes all current hosting infrastructure for shared hosting and cloud hosting solutions.

Included in the sale is ZangIT's current customer base which include the Queensland Government Association, a large payment gateway provider, an art auction house and IT solutions providers. ZangIT hosting has an extensive investment in servers and other related IT equipment located in one of the largest data centers in Australia.

"We are pleased to have entered into a contract to acquire ZangIT Hosting, as we are looking to penetrate new markets outside the US that offer high growth prospects. Australia is a natural next step for us as it is a highly developed, English-speaking country. Our aim is to grow Cloudweb, Inc. both through further acquisitions of additional suitable Cloud hosting companies such as ZangIT, as well as organically by expanding our own customer database and tapping into additional markets, such as launching our cloud services in China as soon as possible," stated Mr. Liao, CEO of Cloudweb, Inc.

About Cloudweb, Inc.

Cloudweb, Inc is a technology provider to small businesses, Web design professionals and individuals, delivering cloud-based products and outcome-driven, personalized Customer Care. The Company operates domain marketplace, where its customers can find that piece of digital real estate that matches their idea. The Company provides Website building, hosting and security tools to help customers construct and protect their online presence and tackle the changing technology landscape. It also provides applications that help them connect to its customers, manage and grow their businesses and get found online. It has designed and developed a set of cloud-based technology products that enable its customers to establish a digital presence, connect with their customers and manage their business operations. The Company's products include domain, hosting and presence, and business applications.

Forward-looking Statements

This press release may include certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Cloudweb's current projections and expectations in regard to future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Cloudweb's anticipated business prospects, strategies, new developments, financial performance and similar matters. Cloudweb disclaims any obligation to update any of its forward-looking statements, except as may be required by law. Investors are urged to consider closely the disclosure in our Form 10-K which is filed with the SEC.