Eight Dragons Co. (OTCQB: EDRG) announces today that it has acquired Park Road Solutions, Inc., a Miami based company that specializes in outsourced Chief Technology Officer, Chief Security Officer, and information technology managed services. The acquisition was achieved through a tax-free exchange of common stock between the companies.
We believe that the acquisition will combine Eight Dragons' prospective financial strength with Park Road's industry-specific knowledge and amplify its ability to compete in the executive IT consulting market, which according to data published by CompTIA.org is estimated to grow to $193 billion by 2019, a 12.5% Compound Annual Growth Rate (CAGR).
"I'm incredibly excited to join the Eight Dragons portfolio," says Jordan Fishman, Park Road Solutions Founder & President "Our businesses are complementary; there's tremendous potential and cross pollination opportunities."
"We are truly pleased to announce our partnership with Jordan Fishman and Park Road Solutions, Inc.," stated Una Taylor, Chairman and Chief Executive Officer of Eight Dragons. "Park Road Solutions is part of Eight Dragons' launch strategy to build a robust products and services revenue stream covering diverse and dynamic markets. Information services and security markets are central to all businesses. Park Road's unique capabilities and product offerings within the hedge fund industry will also help us establish new relationships with established entrepreneurs who finance and invest in companies that are aligned with our mission."
About Park Road, Inc.
Park Road Solutions, a Miami based company, specializes in outsourced Chief Technology Officer, Chief Security Officer, and information technology managed services. Their experience spans all major verticals including retail, education, finance, and healthcare with core competency and focus on Financial Service Providers such as Hedge Funds and Broker Dealer clients. Park Road Solutions provides unique domain expertise in Financial Regulatory, Compliance, Product Development and Managed IT Services. By utilizing bespoke and turnkey methodologies within its product offering, they ensure every solution is right sized and designed around client needs.
About Eight Dragons Company
Eight Dragons Company (OTCQB: EDRG) is a technology-investment company that invests in and operates companies to support a full-stack development eco-system. Headquartered in Miami, FL and commencing operations in 2017, Eight Dragons seeks to help companies using innovation and vision to address the world's biggest challenges and realize exponential opportunities. For more information on Eight Dragons, please visit our website at www.edrg.com,
