Powell Max Announced Acquisition Plans Targeting $1.5M-$5M Revenue Firms To Expand In Hong Kong And Asia Financial Communications Market

Powell Max Limited (NASDAQ:PMAX) (the "Company" or "Powell Max"), a financial communications services provider headquartered in Hong Kong, today announced that it has commenced activities to pursue acquisitions as part of its strategy to build and grow its business operations. The Company is currently evaluating several other financial communications service companies to continue its growth and enhance its market share in the financial communications industry in Hong Kong and Asia.

Powell Max intends to acquire companies that are generating between $1.5 million and $5 million in gross annual revenue.  The Company intends to retain most of the management teams of the acquired companies and to expand those teams to include additional management professionals specializing in corporate strategy and business development. The acquired companies will be allowed to operate semi-autonomously as separate business units under their respective managements, and  management personnel of each unit will be under the direct supervision of the top management of the Company. By acquiring other competitors in the financial communications business, Powell Max is looking to further develop its clientele and achieve economies of scale.