NEW YORK, NY--(Marketwired - Apr 5, 2017) - Metrospaces, Inc. (OTC PINK: MSPCD) announces the execution of LOI to acquire 51% of Miami-based Telco Operator Etelix USA for $2Million.
Mr. Silva stated: "Etelix USA is a leading Miami-based FCC-licensed voice and data operator and distributor. Its' main line of business is international voice and SMS wholesale, and data services. The company did $1.3M in revenue in 2015, growing to over $4M in 2016 and is on a run-rate to do $7-8M in 2017. The company has been profitable since inception and boasts an EBITDA margin of approximately 9-10%. This is a very exciting acquisition for us, not only because it is a very fast-growing business, but because of the synergies that can be brought out from this acquisition. Not only will be able to offer Etelix's triple-play through their retail operation to our real estate projects, but more importantly we will be able to help them finance and build to suit, hosting buildings in secondary markets such as Charlotte, Atlanta, Ft. Lauderdale etc. Combining their tech-savviness and success in the telco and hosting/data industries with our real estate development and financing expertise, will prove to be a very successful combination. This acquisition once completed (no assurances are given) will be consolidated as a subsidiary with Metrospaces financials
For more about Etelix: http://www.etelix.com/
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela. It is operated by an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $350Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $450Million.
Metrospaces' majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company President Oscar Brito.
Safe Harbor Statement:
Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.