Global Developments, Inc. Hones in on Acquisition Target

CAMBRIDGE, Mass., Oct. 13, 2011 /PRNewswire/ -- Global Developments, Inc. (Pinksheets: GDVM), a venture capital firm which invests in innovative and emerging growth-oriented companies announces today that it has identified its next potential acquisition target.

The Board mentioned, "We are very interested in their technology and we think that we can position them to be profitable in the next 12 months."

While discussions are still preliminary, the company expects to have a signed letter of intent next week, at which point more details on the deal will be released.

About Global Developments

Global Developments Inc. is a venture capital company that focuses on equity and debt financing. Global acquires businesses, in part or in whole, via equity acquisitions of those businesses. Global also arranges debt financing for businesses in the form of loans and convertible debentures. On both the venture capital and debt sides of its business, Global Developments clients include private and publicly listed, early-stage and newly formed companies.

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

CONTACT: Global Developments, Inc. Brian Edson, [phone], [e-mail]

SOURCE Global Developments, Inc.

Copyright 2011 PR Newswire