MOTOMOVA COMPLETES SKILLR ACQUISITION TO COMPLEMENT SAAS PRODUCT SUITE
Venture-Backed Industrial Technology Company Expands Product Offering
Headquartered in
MEA is a developer, assembler, and distributor of testing equipment for the global electric motor industry. Since 1998, MEA has provided testing solutions with which to quality check electric motors used in automotive applications, manufacturing and industrial applications, home appliances, robotics, and for research and development laboratories. MEA's prestigious clients have included Mitsubishi Electric, Rolls-Royce, Siemens,
Under the terms of the Skillr acquisition, Motomova agreed to issue approximately 31.86 million shares of common stock, 13.80 million warrants, and 7.29 million pre-funded warrants to Skillr's shareholders. Pursuant to the terms of acquisition, Motomova's chief executive assumed the role of chief executive of Skillr.
Skillr's founder and now former chief executive,
About Motomova
Motomova is the parent company of
MEA's solutions integrate unique dynamic and static capabilities with traditional dynamometer methods, creating a custom approach to meeting the needs of each customer. Its comprehensive range of services includes project consulting, specialist deployment, system integration, in-house testing, custom solutions, and contracted measurements.
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to our business activities, our strategy and plans, the future development of products, and other statements that are predictive in nature and that depend upon or refer to future events or conditions. All statements other than statements of historical fact are statements that could be forward-looking statements. Forward-looking statements include words such as "expects," "anticipates," "intends," "plans," "could," "believes," "estimates" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from any future results expressed or implied by the forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, our ability to continue as a going concern, our ability to obtain additional capital to meet our liquidity needs on acceptable terms, or at all, including the additional capital which will be necessary to grow our businesses; our ability to successfully complete research and further development and commercialization of our product candidates; the uncertainties inherent in industrial technology; ability to develop and protect the Company's intellectual property; the loss of any executive officers or key personnel or consultants; competition; changes in the regulatory landscape or the imposition of regulations that affect the Company's products. Except as may be required by law, the Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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