© vladek dreamstime.com General | June 04, 2019
Advantego gains NA distribution rights for Aska Electronics
Advantego Corporation has acquired the North American distribution rights for wireless audio and electro-acoustic products from Aska Electronics Co. Ltd. of China.
According to media reports, Advantego will provide additional North American product branding, sales and distribution services for Aksa's existing and new product introductions. Aska will continue to service their existing customers and will provide research and development, product design and manufacturing services, along with private labeled products to Advantego and its customers. Advantego CEO Robert W. (Rob) Ferguson said, "This acquisition has been in the works for several months and culminates the hard work management has put forth that should have a significant impact on revenues moving forward and Combining Aska’s continuing annual sales increases with our ability to now expand the footprint presents an exciting time ahead for both of our firms.” In exchange for the distribution rights – as previously announced – Aska will receive 700,000 shares of Advantego's preferred shares at USD 2 per share. The preferred shares are convertible into shares of Advantego's common stock, under certain pricing and timing conditions. “The ability to add new cutting-edge technology within the broad range of ASKA’s already unique capabilities presents both a great opportunity and challenge for Advantego. To address both, we have expanded several relationships recently in anticipation of this to maximize the opportunities we now see in front of us and are looking to seeing the results of our new joint efforts beginning in the third quarter and throughout the rest of the year,” Ferguson said. Advantego Corporation is a business solutions provider that develops stand-alone digital delivery systems, electronic and enterprise software products to capitalize on niche opportunities within a specific market. The company was founded in 1988 and is based in Denver, Colorado.