Right of Reply ("RoR"), a fast-growing technology company dedicated to protecting the reputations of people and institutions on the Web by providing online and real-world reputation management tools, today announces that it has entered into a Letter Of Intent, to acquire 20% of Network Society Lab International, Inc. (NSLI) the US-based blockchain technology consulting company, with offices in Australia, Europe, Latin America and Africa.
David Orban, Founder and Chairman of NSLI, will join from November 1, 2018, Right of Reply Board of Directors
NSLI is a Venture Development firm that focuses on adding value to startup companies that are based upon exponential technologies and decentralized networks.
The acquisition allows RoR to take advantage of NSLI's global reach and expertise, integrating also its products and services in NSLI's offering.
NSLI, has also been put in charge to coordinate and advise the token sale, expected to be launched in 2019, of Right of Reply subsidiary RORKEY.
The acquisition will be paid in a mix of cash capital increase in NSLI and, for more of the 85% of the acquisition price, in issuing to NSLI shareholder Right of Reply Common shares valued at the expected IPO issuing price, or $15 per shares.
"Right of Reply plays an important role in today's world, where online reputations are a fundamental part of creating sustainable value both as individuals and as organizations. We are excited about the acquisition and to join forces with the RoR team," declares David Orban.
Thomas Brook, Right of Reply CEO stated: "David Orban and his team share a strong vision of the exponential value released through decentralizing technologies and their network effects. Right of Reply recognizes that reducing ambiguity about online sources of information and the about individuals and institutions they cite or reference will create new opportunities for people to share their truth and will help combat cyber defamation and fake news. We are delighted that David will be joining the board of directors and that we will be working closely NSLI on the architecture of our block chain enabled platform."