Communications Division CEO Kurt Jensen Promoted to Executive Vice President of Newly Formed Department
October 26, 2007
Titan Global Holdings, Inc. ("Titan") (OTCBB:TTGL), a high-growth diversified holding company, announced the formation of Titan Global Mergers & Acquisitions (Titan M&A) to enable the Company to effectively capitalize on new strategic opportunities by centralizing and streamlining all transactional acquisition and investment flow sourced from Titan's various divisions, strategic investors and third party agents.
Kurt Jensen, current President and Chief Executive Officer of Titan Communication, has been promoted to lead Titan M&A as Executive Vice President. Until a permanent replacement is named for Mr. Jensen at Titan Communications, he will hold both positions.
Titan M&A will manage and expedite the merger, acquisition and business development investments for Titan and its various divisions. Mr. Jensen will form a financial team to support and assist in Titan M&A's analysis of acquisition targets.
"Our divisional management is dedicated to the success of their own operational units and thus need additional resources to focus on such undertakings," said David Marks, Chairman of Titan Global Holdings. "Further, many offerings are of a time-sensitive nature and include, but are not limited to, either the complete sale of a company, a direct minority type investment or our purchase of preferred or common stock company in such companies. Titan M&A will enable us to sift through opportunities in rapid fashion and more effectively capitalize on these potential acquisitions and opportunities. Equally important, Kurt himself has earned the respect and trust of our growing management teams, which will enable him to sort out synergistic opportunities and integrate them effectively into the Titan Global Holdings family."
In spring, 2005, Mr. Jensen was responsible for introducing Oblio Telecom, Inc. ("Oblio") to Crivello Group, LLC, the principals of which are Titan strategic investors. After the decision was made to transition Titan to a diversified holding company, Mr. Jensen was integral to the negotiation and completion of Titan's acquisition of Oblio in August, 2005. Thereafter, Mr. Jensen filled various roles for Titan and was named President and Chief Executive Officer of Titan Communications in March, 2006. While there, Mr. Jensen was the lead architect of the expansion of Starttalk, Inc., a unit of Titan Communication focused on the development of owned and leased network communication assets.
"Stated simply, analyzing, negotiating, and acquiring synergistic units of incremental revenue and earnings by Titan Global Holdings will be Titan M&A's strategic focus and objective," said Mr. Jensen. "Working in concert with Titan's strategic investors, we are poised to analyze and exploit opportunities in the marketplace."
Mr. Jensen was also central to the discovery and pursuit of the recovery of federal excise taxes and universal service fees after Titan's acquisition of Oblio. These lead to the recovery of millions of dollars from the United States Treasury and, as recently as last week, a multi-million dollar settlement with AT&T. Mr. Jensen was the lead negotiator in the strategic acquisition of Ready Mobile into Titan Wireless. On the organic growth side, Mr. Jensen was integral to the development of Titan Card Services, Inc.
"Kurt is a rare talent who has contributed enormously to the growth and financial success of Titan," said Bryan Chance, President and Chief Executive Officer of Titan Global Holdings. "Given the vital nature of Titan M&A's mandate to our overall continued growth and success, Kurt is perfect to streamline our review and consideration of new acquisitions. His high level of familiarity with our divisions and each management team makes him uniquely qualified to lead Titan M&A."
About Titan Global Holdings
Titan Global Holdings is a diversified holding company with a dynamic portfolio of subsidiaries spanning international telecommunications, electronics and homeland security, consumer products and energy resources. Through our nine wholly-owned subsidiaries, we take advantage of valuable synergies between our subsidiaries to maximize revenue growth, internal development and strategic acquisitions. In fiscal 2006 Titan generated in excess of $109 million in revenues on a consolidated basis and projects fiscal 2008 revenues up to $747 million. Titan's operating divisions include the following:
Titan's Telecommunications Division addresses a range of high-growth markets in the telecommunications, wireless and mobile segments. Companies include Oblio Telecom, Inc. the second largest publicly-owned company focused on the international prepaid telecommunications segment, StartTalk, Inc., Pinless, Inc., Titan Wireless Communications, Inc. and Ready Mobile.
The Titan Global Energy Division aggregates traditional and next-generation energy and fuel assets that can provide significant opportunities for growth in one of the world's largest and most critical markets.
Titan Global Brands integrates, protects and expands brand management capabilities to leverage and optimize growth across Titan's worldwide distribution channels. We own or manage more than 100 brands that are distributed through efficient, overlapping and expansive distribution channels.
Titan Card Services capitalizes on the burgeoning multibillion dollar international prepaid money transfer sector. The Card Services division provides a seamless brand extension for Titan's growing family of prepaid products, currently sold through a nationwide network of more than 71,000 retailers.
Titan's Electronics and Homeland Security Division includes Titan PCB East, Inc. and Titan PCB West, Inc. These companies specialize in the manufacture of advanced circuit boards and other electronic products for classified military and defense department customers, and other high-tech clients.
For more information, please visit: www.titanglobalholdings.com.
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Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Act of 1995 -- With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TTGL could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings.
