Bullzi Holdings, Inc. Finalizes Acquisition of SecuSolutions Ltd. and Names New Company President
Southport, North Carolina, September 8, 2015 (Newswire.com) - Bullzi Holdings, Inc. (BLLZ), a public holding company, finalized the acquisition of SecuSolutions Ltd., a Canadian information security products provider. As part of this acquisition, Bullzi Holdings named Mr. Jim Kootnekoff as the new President and CEO of the company, effective immediately.
Thomas Welch, former President and CEO of Bullzi Holdings, Inc. and now Executive Vice President stated, "The acquisition of SecuSolutions Ltd. (www.secusolutions.com) provides a number of benefits for shareholders of Bullzi Holdings. It will allow us to refocus our efforts on Information Security, which is currently one of the fastest growing industries worldwide. With Mr. Kootnekoff taking over as President and CEO, the company will greatly benefit from his experience as a Chief Executive of an international security firm”.
Mr. Welch went on to say that, “I have known Jim for over 15 years and felt that he is the best person to take this company to the next level. While Jim is from Calgary, Canada, he has a solid international business acumen. He previously built an information security business in Japan that grew to nearly $7M in revenue in only 5 years. Jim’s experience in Japan also allowed him to create key client relationships in Southeast Asia and throughout the world, where information security is largely undeveloped.
Jim Kootnekoff, President of SecuSolutions and the newly named President and CEO of Bullzi Holdings stated, “I am absolutely thrilled to join Bullzi Holdings. This new relationship will allow us to forge business opportunities with large international companies that previously may not have recognized SecuSolutions as a private security firm from Canada. The combination of Bullzi Security's professional consulting business and WISE eLearning training courses with SecuSolutions products and service line, opens the doors to some very exciting opportunities that have been previously identified. It’s time to reintroduce ourselves as a formidable competitor in the Information Security Industry”.
Mr. Kootnekoff went on to say, “During the due diligence process, my team and our advisors felt that while Bullzi Holdings' business diversity had valid benefits, the company was simply not large enough to effectively run these disparate businesses. Essentially, there was no common link between some of these businesses. Additionally, the lack of attention to any one of the businesses, limited the growth potential for all of Bullzi Holdings subsidiaries. As such, one of the contingencies of this deal was to roll back the acquisition of Postursizer Inc. and return the assets to the former owners in return for 350M shares of Bullzi Holdings Common Stock. With these shares being returned to Treasury, the number of issued and outstanding shares will be reduced by 82%, down to 74M from 412M. This acquisition rollback was executed on September 4th, prior to this deal being signed”.
Mr. Welch closed by saying, “My strengths have been in delivering security products and services, while Jim's is in growing new business. Together, we will make up part of an executive team that will allow the company to deliver quality products and services on a worldwide basis. Our team of potential international resellers will allow us to bridge any cultural barriers and help us to position and present our services in a manner that our international clients demand. Jim's experience in this regard will be invaluable to Bullzi.”.
About Bullzi Holding Company Inc.
Bullzi Holdings, Inc. is a publicly based holding company that conducts business in Information Security. It is the parent company of a Bullzi Security LLC, WISE Learning Solutions LLC, SecuSolutions Ltd. and Creative Forecast LLC.
The Bullzi Holdings, Inc. trading symbol is BLLZ.
For more information or to schedule an interview, please contact:
Jim Kootnekoff
Bullzi Holdings, Inc.
1-800-279-8850
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Tags: education, information security, security