InterCloud Systems, Inc. (OTCMKTS:ICLD) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On May 15, 2017, InterCloud Systems, Inc. (the
Company) entered into and closed on an Asset
Purchase Agreement (the Asset Purchase
Agreement) with Redapt SDN, LLC
(Redapt), a Washington limited liability
company. to the terms of the Asset Purchase Agreement, the
Company agreed to sell, and Redapt agreed to purchase, the assets
associated with the Companys SDN Essentials business (the
Business), including, but not limited to, fixed
assets, real property, intellectual property and accounts
receivables (collectively, the Assets). The
Business is engaged in the business of providing, inter alia, IT
educational services and networking educational services under
the SDN Essentials brand.
The purchase price Redapt paid for the Assets included $1,400,000
in cash. In addition, the Asset Purchase Agreement contains a
working capital adjustment, payable within 150 days of the
closing.
The foregoing description of the Asset Purchase Agreement does
not purport to be complete, and is qualified in its entirety by
reference to, the full text of the Asset Purchase Agreement
attached here to as Exhibit 10.1 and incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 |
Asset Purchase Agreement, dated as of May 15, 2017, by and among the Company and Redapt SDN, LLC. |
About InterCloud Systems, Inc. (OTCMKTS:ICLD)
InterCloud Systems, Inc. is a provider of cloud networking orchestration and automation for software-defined networking (SDN) and network function virtualization (NFV) cloud environments. The Company operates through four segments: applications and infrastructure, professional services, managed services and cloud services. The applications and infrastructure segment provides engineering and professional consulting services, and voice, data and optical solutions. The professional services segment provides outsourced services to the wireless and wireline industry and information technology industry. The cloud services segment provides cloud computing and storage services to customers. The managed services segment provides hardware and software products to customers, and provides maintenance and support for those products. It offers its solutions to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud Systems, Inc. (OTCMKTS:ICLD) Recent Trading Information
InterCloud Systems, Inc. (OTCMKTS:ICLD) closed its last trading session up +0.0003 at 0.0220 with 1,745,148 shares trading hands.
