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Carbon Sciences Inc. (OTCMKTS:CABN) announced plans to move into the $3.8-trillion information technology (IT) market by acquiring profitable IT services providers. Currently, the company is focused on developing graphene-based technologies.
Carbon Sciences Inc. (OTCMKTS:CABN) announced plans to move into the $3.8-trillion information technology (IT) market by acquiring profitable IT services providers. Currently, the company is focused on developing graphene-based technologies.
As quoted in the press release:
The company plans to grow by acquiring profitable IT services providers, which in the future may also provide a channel of distribution for its graphene-based networking device technology currently in early research and development
Bill Beifuss, president of Carbon Sciences, commented:
After carefully studying the IT market, we are convinced that there is an enormous market opportunity on the services side. The services sector alone accounts for approximately $1 trillion of the total $3.8 trillion total worldwide IT market.
Cognizant Technology (CTSH), a $35 billion company, is a good example of a successful growth-by-acquisition strategy in the IT space. Today, Cognizant is focused on acquiring large IT services providers. Our plan is to focus on the smaller local and regional players. We are actively recruiting experienced M&A executives to join our management team to help us execute this plan.
Click here to read the full Carbon Sciences Inc. (OTCMKTS:CABN) press release.