Santeon Group, Inc. develops business process, compliance and integration computer software. The Company produces process modeling and simulation, integration, process automation with human review, business activity monitoring and collaboration software. Through a subsidiary, Santeon allows users to produce and broadcast television and radio broadcasting over the Internet.
Average daily volume is 4 thousand shares. Today’s news release has caused shares to trade 51% higher with over 1.9 million shares traded in the morning market hours.
Santeon Group, Inc.Press Release:
RESTON, Va., June 14, 2018 (GLOBE NEWSWIRE) — Santeon Group, Inc.(“Santeon” or the “Company”) (SANT) announced today the signature of a letter of intent (LOI) with the shareholders of Corum, LLC a developer of Crypto-currency and ICO Trading Platform to add to its current technology platform and established global resources to release the trading platform to the public once the acquisition is complete. Corum, LLC’s platform named CorumX is currently under extensive testing and is already integrated with several crypto-currencies. The Company plans on leveraging its high-volume, reliable and secure transaction platform as well as its reputation as a global provider of software technology to add to the Corum acquisition and transition to Blockchain based platform and technology Services.
“It is a natural transition and growth trajectory for Santeon to leverage what we have built in the past related to high-volume, secure transaction based solutions as well as our global resources in Egypt and India to serve a market that is being under-served or served with organizations that lack the depth and experience that Santeon offers,” comments Ash Rofail, CEO of Santeon Group.
“When we developed the trading platform, we focused on a smooth user experience that allows traders which are typically new to the cryptocurrency market to have access to the cryptocurrency market without any limitation or restrictions that are represented in most of the current trading platforms,” comments Mr. Karim Gamal, Corum LLC, CEO. “Although we focused all our resources on the development of the platform, we recognized that we need a strong partner that would bring not just technology expertise but expertise specifically in the high-volume, secure and reliable transaction processing as well as the global presence with resources that would allow us to support the growth of the platform and the anticipated volume of users,” continued Mr. Gamal.
The company intends to invest additional development resources to expand the platform and offer technology related services focused on developing Blockchain based solutions internal to the company as well as external clients. The company is also considering the licensing of the platform to other partners in other regions of the world.
“We are very excited about this acquisition and as many shareholders in the past have experienced us building a strong and profitable company, we plan on replicating that in a larger scale in a wide-open market eager to see a thought leader emerge. The company expects to complete its due diligence and announce closing in the next 30 days,” concluded Ash Rofail.
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