The Conversation (0)
Life Clips Launches its Global Sourcing Business with Acquisition of Ascenda International
Jun. 27, 2017 08:17AM PST
Data InvestingLife Clips (OTCQB:LCLP) has announced it closed the acquisition of the shares of Ascenda International and Hong Kong Ascenda International on June 22, 2017. As quoted in the press release: This acquisition will provide the Company the ability to import and export products globally. The acquisition includes Ascenda’s existing business, clients, executive management and goodwill. …
Life Clips (OTCQB:LCLP) has announced it closed the acquisition of the shares of Ascenda International and Hong Kong Ascenda International on June 22, 2017.
As quoted in the press release:
This acquisition will provide the Company the ability to import and export products globally. The acquisition includes Ascenda’s existing business, clients, executive management and goodwill. The original investors in Ascenda Corporation included The China Development Group, which was the largest investment banker in Taiwan, and Donald Ruan, who has over 40 years of experience in global trade.
This is Life Clips’ first acquisition under its new CEO, Huey Long. With the addition of Ascenda and over $6 million in revenue, Life Clips has now officially launched its rapid growth strategy in its new core business of global sourcing, supply chain, logistics and sales and marketing services.
Huey Long, CEO of Life Clips, states, “Acquiring a company with Ascenda’s experience, existing customers and leadership team, establishes us a premier global sourcing company, and officially launches our new core business strategy. We anticipate rapid growth- organically and through strategic acquisition.”
With its main offices in Shanghai, China, Ascenda has been in continuous trading operations for 17 years with bi-directional trading and import/export capabilities in China, Taiwan, Korea, Japan, Indonesia, Mexico, Brazil, Argentina, United Kingdom, United States, France, Spain, Germany, Italy and Israel. Ascenda operates around the world with a network of hundreds of factories, logistics and supply chain suppliers. In 2003 Ascenda introduced the concept of “Speed Sourcing” for its clients, offering end‑to‑end sourcing at a fraction of the cost and time compared to traditional exporters and export service providers. The services include design, licensing, factory qualifications and negotiating, financial services, import and export, sales, and end to end supply chain services.