OLB Group Acquires Assets and Operational Business in the Merchant Acquiring Industry for $12.5 Million
OLB Group, Inc., (OLBG), a leading provider of integrated commerce services solutions for small and medium sized businesses throughout the United States announced today it has acquired significant assets that will enable the company to address the merchant’s business needs through an integrated suite of software and hardware products. “This transaction marks an important step in OLB Group’s continuing development, and adds significant scale and depth to our commerce servicing capabilities and functionalities,” said Ronny Yakov, Chief Executive Officer of the OLB Group. “By integrating established merchant bases with the power of our commerce servicing capabilities, our customers can expect even greater value and customer support.”
Mr. Yakov continued that this transaction is the first of several the company plans to announce in the coming weeks.
The company’s operations will be based in Alpharetta, Georgia.
More detailed information, including transaction agreements is provided in the OLB Group Report on Form 8-K which has been filed with the SEC on April 13, 2018.
About The OLB Group, Inc.
The OLB Group, Inc. is a commerce service provider that delivers fully outsourced private label shopping solutions to highly trafficked websites and retail locations. We provide end-to-end e-commerce, mobile and retail solutions to customers.
OLB Group, Inc. common stock is traded Over-The-Counter on the OTCQB under stock symbol: OLBG. Additional information about the Company can be found at https://olb.com
All statements from The OLB Group, Inc. in this news release that are not based on historical fact are “forward-looking statements” within the meaning of the PSLRA of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, statements regarding the expected revenue and income for operations to be generated by The OLB Group, Inc. For other factors that may cause our actual results to differ from those that are expected, see the information under the caption “Risk Factors” in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
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