Majesco To Merge With ConnectivCorp

Officials from ConnectivCorp have totday executed a letter of intent, setting forth the preliminary terms and conditions of a proposed merger transaction between the company and Majesco. As proposed, the shareholders of Majesco would exchange their shares of capital stock in Majesco for capital stock of ConnectivCorp. At the closing of the merger as currently contemplated, the shareholders of Majesco will own common and preferred stock representing approximately 80% of the capital stock of ConnectivCorp on a fully-diluted basis. According to Forbes.com ConnectivCorp has no business operation other than seeking merger or acquisition partners.