Ecrypt Technologies Inc (OTCBB:ECRYE) entered into a joint venture deal with DTREDS Consolidated Inc., which is a provider of telecom infrastructure products and services in federal, commercial and international markets.
The capabilities of DTREDS include infrastructure security services that complement well with Ecrypt’s product portfolio. Dr. Thomas Cellucci, the CEO of Ecrypt, said that the objective of the joint venture deal is to offer capital for the operational expansion of mutually agreed on subsidiary companies. These firms should generate significant net profits for both companies. There is a contract backlog of more than $14.2 million, and the company expects contract revenue of more than $20 million for 2015. Ecrypt Technologies Inc (OTCBB:ECRYE) is implementing its strategic business plan with prime focus on rapid and profitable growth leveraging its core strength in tools, software, and systems capabilities.
Improving top and bottom line
DTREDS serves federal civilian groups such as the Department of Defense, the US Department of Homeland Security, members of the Intelligence community and many others. It also provides services to commercial clients. Mr. Steve Vento, the COO of DTREDS said that they could consider no better joint venture partner than Ecrypt Technologies Inc (OTCBB:ECRYE). With Dr. Cellucci at the helm, DCI expects rapid improvement in both the bottom and top lines, in the long and short terms. Dr. Cellucci has extensive experience of more than 25 years in managing successful companies.
The road ahead
Brad Lever, the founder and COO of Ecrypt Technologies Inc (OTCBB:ECRYE) said that he is very enthusiastic about the products and services both companies hold. The joint venture deal is a crucial part of business strategy to further expand system offerings. The deal is expected to result in significant benefits for both companies. DTREDS is a holding firm comprised of mission-focused SMEs, skilled tradesman and project management professionals with a reputation for delivering government, commercial, civilian and military entities turnkey communications infrastructure services.