SOURCE: Ingen Technologies, Inc.
RIVERSIDE, CA--(Marketwired - May 1, 2013) - Ingen Technologies, Inc. (PINKSHEETS: IGNT) is pleased to announce that pursuant to the Purchase and Agreement of Acquisition executed on April 29, 2013; Ingen Technologies has acquired ATMC Inc.
The telecommunications market had a growth rate of 7.5% in 2011 and predicted growth rate of 1.4% in 2012. Global spending is forecasted to reach $2.45 trillion in 2016. The Southern California based ATMC is an Inter-Exchange Carrier licensed by the FCC for Domestic and International Telecommunications services, providing voice services serving Domestic and International Public and Private Telephone Companies. ATMC began business in 1989 and continues to provide services in the changing digital communication industry. To learn more about ATMC, please visit www.useatmc.com.
"This is our first acquisition since going public in 2004. Ingen is diversifying its portfolio of industries to include medical and telecommunications. We are pleased to have acquired ATMC and its existing revenue generating business in order to invest into a new $25 Million expansion plan over the next several years. ATMC is a 20 year old company that includes an experienced team of professionals with a plan to expand new global routes with major carriers. Further, Ingen will continue to focus on its medical division and patented and proprietary respiratory products. Our future objectives are to combine our medical technologies with the telecommunications industry with a proprietary product, SaraS-One, for consumers who are using handheld multi-media devices such as the digital mobile phone technology to access online non-invasive therapy and physician consultations," commented Gary B. Tilden, Chairman.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.