ORGANO Enters Into Agreement With Digital SkyNet, Limited ("DSL") To Form A Strategic Joint Venture Company, Bringing ORGANO Into The Block Chain Economy
BUFFALO, N.Y. and HONG KONG and NEW YORK, Sept. 21, 2018 /PRNewswire/ -- ORGANO today announced it has entered into a definitive strategic joint venture agreement with Digital SkyNet Limited for the purpose of pursuing larger market opportunities related to Blockchain technologies and creating more significant competitive advantage through Blockchain related solutions than either company could achieve alone.
Under the terms of the agreement, each company will own an equal share of the newly formed joint venture Company.
"The ORGANO brand is one of the most well known and respected brands in the global nutrition industry and this historic transaction provides tremendous value to the shareholders of both companies," said ORGANO VP of Technology Innovation, Joel Binn. "We look forward to partnering with Digital SkyNet, a well respected Blockchain solutions developer, in what will be an exciting new chapter in the history of ORGANO. As a global enterprise, ORGANO will have an opportunity to more effectively drive further growth and advance our commitment to providing consumers around the globe with great tasting, nutritious and wholesome products. Blockchain technologies represent unprecedented business operations and economic applications to benefit the thousands of ORGANO customers and independent distributors around the world," added Binn.