Ideanomics Completes the Acquisition of Timios Holdings Corp.
January 11, 2021 (Source) — Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) announced that is has completed its previously announced acquisition of privately held Timios Holdings Corp. (“Timios”), a nationwide title and settlement solutions provider. CEO Raymond B. Davison and President Joseph Montag will continue to lead Timios, and the company will retain its current leadership, personnel, branding, and culture and operate as an entity within the Ideanomics Capital division.
Timios combines difficult to obtain licenses, a knowledgeable and experienced team, and a scalable solutions platform to deliver best-in-class service through both centralized processing and a localized branch network. Timios has introduced significant product and service level improvements, becoming an innovator in the real estate title and escrow services industries – markets poised for technology disruption. Ideanomics will assist Timios in scaling its business in various ways, including referring client acquisition and product innovation.
About Timios Holding Corp.
Timios is the Greek word for “honest,” and that has guided everything we do since 2008. Our mission is simple: to provide an unparalleled real estate transaction experience for buyers, sellers, and professionals. By empowering our customers through innovation, providing total transparency, and simplifying every step, we’ve revolutionized the process to give our customers the control they deserve.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Mobile Energy Global (MEG) division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions and services across the financial services industry. Together, MEG and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.
The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.
Safe Harbor Statement
This press release contains certain statements that may include “forward looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Investor Relations and Media Contact
Timios Holding Corp.
Ernie Lewis, SVP of Marketing
5716 Corsa Avenue, #102 Westlake Village, CA 91362
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
Valerie Christopherson / Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
SOURCE Ideanomics; Timios Holdings Corp.
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