SPO Global Inc. (OTC: SPOM) has entered into a definitive agreement to acquire 93.94 percent of UK-based software developer Reflective Solutions Ltd. via a share exchange agreement, the company said.
With the acquisition of Reflective, SPO intends to shift its primary focus to those of its new subsidiary´s business operations. Subsequent to the agreement with Reflective Solutions, SPO Global Inc. intends to apply to FINRA to change its corporate name to Reflective Solutions, Inc. and its stock symbol to better reflect the nature of its products and current business focus.
SPO Global also announced the appointment of Owen Dukes to the company board of directors. Concurrent with this transaction, Michael Braunold has resigned as CEO and President of SPO Global and the company has also appointed Owen Dukes as the new CEO and President.
Reflective Solutions is a software developer in the enterprise application performance and monitoring market that provides mission critical application software for large client corporations both in the public and private sector. The software products available from Reflective, increase productivity through performance testing and analysis along with 24/7 monitoring of new technologies on existing client service platforms. Reflective Solutions currently has offices in London, Boston and Sofia that support a growing base of substantial enterprise customers in North America, Canada, Europe, Asia and Australia.
SPO Global was engaged in the design, development and marketing of non-invasive pulse oximetry technologies to measure blood oxygen saturation and heart rate.