Durham, NC (PRWEB) August 12, 2016
The Guess Corporation has select assets in its technology portfolio for immediate sale. The assets are being made available to technology and investment firms. While the company is not disclosing the specific assets it is selling publicly, the asset values range from $4 million to $100 million. The assets being sold are turn-key technology ventures and would potentially yield over $75 million in annual revenue if they are maintained by the company. In selling the assets, the company will retain a minority interest while the assets will become part of the portfolio of a specialized outside technology firm. The sales are being handled directly by the company and are expected to close within weeks.
"As we pursue various opportunities, we are monetizing certain assets in our portfolio and re-directing that capital into other business areas at this time," stated Yolanda Gambrell, Group Executive for Corporate Affairs. The assets consist of patented technologies that have an operating platform and reliable and sustainable revenue models. The technologies are global in nature and have a broad market base with many applications. The assets have been part of The Guess Corporation for less than 12 months. The company expects to derive a profit on the asset sales.
About The Guess Corporation
The Guess Corporation is a conglomerate based in Durham, North Carolina which began as a trader of diamonds and expanded into over 20 business areas since 2012. The company's projected revenue for 2016 is $250 Million and its asset base currently exceeds $100 Million.