Cloud Security signs LOI to acquire Slice Networks

NEWPORT BEACH, USA: Cloud Security Corporation, an emerging technology company that is focused on the next generation of Internet and mobile security, announced that it has signed a letter of intent to acquire Slice Networks, LLC, a leading Southern California technology firm.

Slice Networks helps content creators and publishers develop, manage, and monetize their brand and digital presence. It also specializes in developing video-heavy web platforms and mobile applications ranging from social media, to online video, to distribution of content to multiple devices.

Safa Movassaghi, CEO of Cloud Security Corporation said: "We are pleased to sign this LOI with Slice Networks. The Company is led by a seasoned management team and is a rapidly expanding innovator in technology platforms related to video content being delivered through the cloud. This acquisition will provide additional revenue streams and an amazing in house development team."

The proposed acquisition is subject to customary terms and conditions, including the negotiation of a definitive agreement, receipt of necessary approvals and consents, completion of a due diligence investigation, delivery of audited financial statements, and delivery of necessary and customary closing documentation.