SHREWSBURY, N.J., Dec. 08, 2015 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (Nasdaq:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that its Board of Directors, in response to the receipt of multiple unsolicited offers to purchase certain of the Company’s key assets, has commenced a review of its strategic alternatives in order to maximize shareholder value. This review may result in the Company’s continuing to pursue value-enhancing initiatives in its current form or a possible sale of one or more of its assets. The Board of Directors has retained Pryor Cashman LLP as its legal advisor in connection with such review.
CEO Mark Munro stated: “consistent with its duties, our Board of Directors has determined that it is prudent to undertake a review of these unsolicited offers to see which alternative or alternatives, if any, are the best way to maximize shareholder value.” Mr Munro added: “As our Board conducts its review, our goal is to continue to grow our business and focus on expanding our gross margins. We remain focused on strong revenue growth for all of our operating segments and the deployment of leading edge cloud technology products and services.”
No decision has been made to enter into any transaction at this time, and there can be no assurance that the consideration of strategic alternatives will result in any transaction.
There is no set timetable with respect to the Board’s review, and the Company does not expect to make further public comments regarding these matters, unless and until the Board approves a specific action or otherwise concludes its review.
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud offers cloud and managed services, professional services, and infrastructure and applications, to assist its customers in meeting their changing technology demands. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing to InterCloud, rather than the capital expense model that has dominated in recent decades. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.com.
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.