Avidus Completes Purchase of Akea

VANCOUVER, BC and MESA, AZ, March 24, 2014 -- Avidus Management Group Inc. ("Avidus" or the "Company") is pleased to announce that it has made the $400,000 payment required under the asset purchase agreement (the "Agreement") with Akea, LLC ("Akea"), that was entered into last month. Asantae will now be able to proceed to full integration of the Asantae and Akea sales organizations, product lines and systems.

Avidus' CEO, Doug Ridley, commented, "From the outset, the Akea distributors were extremely energized and motivated and their response to the acquisition has far exceeded our expectations. In the first 30 days, revenues from the Akea side of our business have increased by 17% and we expect to see robust growth from the combined companies in 2014. We are currently reviewing several other targets that have the potential to fit the Avidus acquisition model and we are excited about the outlook for 2014 and beyond."

Bill Bernicki, Akea's COO commented "Our distributors have been energized by the Asantae field leadership and we have already seen significant sales growth with this union. The Fast Track Business Building System has proven to have an immediate positive impact on our distributors and we look forward to continuing to build on this momentum."

 

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• Akea Acquired By Avidus

 

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