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Recent Growth and Acquisitions Spur Technology Firm to Create Real Estate Holding Company
Posted By beth On August 2, 2007 @ 1:49 PM In Business Development,Business Development & Best Practices | Comments Disabled
RISMEDIA, August 3, 2007—Network Earth, Inc., an international technology company that specializes in Web-based software development for businesses, announced the formation of COYS Group, LLC.
COYS Group, LLC, wholly owned by Network Earth, Inc. was formed to expedite real estate related transactions and the purchase of properties that will serve as office space, call centers and rental properties as the company continues to expand its services, products and client base.
Currently operating out of offices in New York and California, the move will help Network Earth manage rapid growth in several business areas. Increased interest in their single property Web site product, AgencyLogic.com PowerSites, and the development of a corresponding private label offering has positioned the company to service a wider variety of clients and corporations through partnerships and competitor acquisition. Additional expansion is taking place with the introduction of new products and an increased focus on international growth.
“The creation of COYS Group, LLC was a necessary step in keeping pace with the growth of our company primarily fueled by record back-to-back quarter performance in several key categories of our AgencyLogic.com PowerSite product and the pending release of Salons.com,” said Stephen Fells, CEO of Network Earth. “Recent acquisitions and other deals in the pipeline will create the need for the purchase of additional real estate to hold a larger support, marketing, sales and customer service team.”
“Initially, we plan on expanding our presence in Upstate New York with the purchase of a building in the Poughkeepsie area. Our plans include converting the building into a hub for technology focused businesses. Local companies in the Hudson Valley area will benefit from the building’s strong technology based service offerings,” said Mark Wayman, CIO of Network Earth.
The first property to be purchased through COYS Group, LLC is expected to complete in the third quarter 2007 with additional purchases expected in California in 2008.
For more information, visit www.netearth.com .
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