CrossMobile Prepares for Rollout of Value-Added Services Across the European Market
NEW YORK, NY, March 29, 2022 (GLOBE NEWSWIRE) -- World Health Energy Holdings, Inc. (OTC: WHEN) (“WHEN Group” or the “Company”), a cybersecurity company with proprietary technologies developed to protect individuals and enterprises from cybersecurity threats, announced today it entered into an agreement for the acquisition of an initial 26% of CrossMobile Sp.z o.o. (“CrossMobile”), a licensed mobile virtual network operator (“MVNO”) in Poland, providing the necessary licenses and key infrastructure to service the entire population of 540 million in the EU. The Company has the option to ultimately acquire controlling interest in CrossMobile. The closing of the acquisition of the initial stake will follow the increase in CrossMobile’s authorized capital.
“The acquisition of CrossMobile is a major milestone in the evolution of WHEN Group and provides us with a strong foothold in the European market,” said WHEN Group CEO Giora Rosenzweig. “We now join a small, rarified group of licensed operators in the EU, giving us a formidable foundation from which we can generate significant long-term growth as we roll-out a comprehensive suite of value-added services for B2B and B2C customers and participate in the transformation of the future of the telecom industry.”
The global mobile value-added services market is expected to reach $309 billion by 2025, growing at a CAGR of 15.3%, according to data from Market Research Future.
“WHEN Group’s acquisition of CrossMobile marks the beginning of a new standard of service in telecom,” added Tom Tromer, CEO of CrossMobile. “Together we plan to invest in the technologies of tomorrow that enable us to deliver flexible solutions that meet the demanding and ever-changing needs of customers, from large enterprises to individual consumers.”
“Unlike large legacy operators, we have the agility to quickly capitalize on new opportunities,” continued Rosenzweig. “Our ability to address changing market demands provides a distinct competitive advantage. Combining this advantage with our unparalleled cybersecurity solutions and other next-generation value-added services place us in a great position to scale operations, and I fully believe successfully executing on this strategy can generate several hundred million dollars in annual revenues with greater than 25% margins at scale.”
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About CrossMobile
CrossMobile is registered as a Full Mobile Virtual Network Operator (MVNO) in Poland under the regulatory authority of the Office of Electronic Communications (UKE).
About WHEN Group
World Health Energy Holdings, Inc. (d/b/a WHEN Group) is a holding company comprised of SG 77, Inc./RNA Ltd, which develops and significantly improves existing cybersecurity solutions in the B2C and B2B marketplace. WHEN Group develops new systems by applying pattern recognition technology based on IOT / mobile / servers and computer activity, analyzing human and device behavior, relationships and BPM (Business Process Management) in order to automatically identify and prevent potential danger to individuals and companies. The B2C Cybersecurity division targets families concerned with external cyber threats and exposures in addition to monitoring a child's behavioral patterns that may alert parents to potential tragedies caused by cyberbullying, pedophiles, other predators, and depression. The B2B Cybersecurity system software development and implementation company is focused on innovative solutions for the constantly evolving cyber challenges of businesses, non-governmental organizations (NGOs) and governmental entities. By deploying a highly experienced development team, RNA Ltd. anticipates both internal and external cyber threats, by identifying behavioral patterns that flag potential cyber compromises. Additional information is available at: https://www.whengroup.com/.
Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates, and projections, and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, our ability to integrate the operations of the acquired entities and manage the combined entity our ability to raise the capital needed to realize our business plan and on commercially reasonable terms to realize this opportunity, the ‘going concern’ qualification’ in our financial statements which may adversely affect our capital raising efforts, the success of our business plan, market reception of our products, , our ability to retain needed personnel and our ability to compete against companies with much larger resources as well as the risks and uncertainties discussed under the heading "RISK FACTORS" in our Annual Report on Form 10-K for the year ended December 31, 2020 filed on April 15, 2021, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
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RedChip Companies Inc.
407-491-4498
WHEN@redchip.com
