Spooz, Inc. (OTCBB:SPZI), announced today the completion of a Letter of Intent to acquire Tetrahex, Inc., a leading technology development company that specializes in high-end software solutions for the financial markets.
The acquisition will be accomplished primarily by an exchange of stock and will dramatically strengthen the Spooz's product portfolio. In addition, Spooz will gain strategic management personnel and a germane customer list that Tetrahex has been building since 2002.
In its latest effort, Tetrahex recently completed development of Fractal Finance CUBED, an adaptive forecasting software that can be utilized for trading futures, forex and equities. The fractal metanet architecture of Tetrahex's "CUBED" application is designed to identify correlations in multiple data layers, allowing traders to more effectively identify patterns in market data.
"We are excited about the acquisition of Tetrahex for many reasons. Above all the high level of integrity that the Company's engineers have always exhibited, and the fact that Tetrahex's trading solutions so effectively and will completely complement our product lines," stated Paul Strickland, CEO of Spooz. "It is of utmost importance for Spooz to continuously provide our clients with new and exciting product applications running on the SpoozToolz platform."
"Tetrahex brings to Spooz an original trading analysis and decision support application that will stand alone as an end-of-day product, or provide real-time analysis as an integrated part of the SpoozToolz platform," stated Erik Long, President of Tetrahex. "We plan to accomplish the integration of our Fractal Finance CUBED into version 2 of the SpoozToolz platform for its planned release date in early 2007."