Anderson, South Carolina-based JZZ Technologies Inc. (OTC Pink: JZZI), a diversified company focused on real estate development and digital media, announced the closing of its acquisition of O2 Mortgage LLC, dba Oxygen Mortgage.
Headquartered in Boulder, Colorado, Oxygen Mortgage will continue to operate as a full-service mortgage company in over 20 major U.S. markets. According to the companies, Oxygen Mortgage will be positioned to grow JZZ’s Real Estate Development Division.
The financial terms of the acquisition were not disclosed.
“I couldn’t be any more excited about joining with JZZ Technologies,” said Oxygen Mortgage President and CEO Rob Egeland. “This is truly a great scenario for both of our companies. We have so much potential together to contribute to a complete service experience and the overall success of the Real Estate Development Division.”
Charles Cardona, CEO of JZZI, added, “We’re pleased to close on the Oxygen acquisition. Robert Egeland and his team at Oxygen Mortgage add a whole new capacity for our real estate division. Under Rob’s guidance, we’re confident that we can use our joint resources to build a highly successful real estate division which we anticipate will create high-quality projects that generate major revenue for JZZ.”
