Markets
U.S. open in 38 hrs, 22 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
Propalms, Inc. Completes Acquisition of Focus Systems, Inc.
Company Sees Significant Potential With Focus' "Cloud" Computing Technology
Market Wire
NORTH YORKSHIRE, ENGLAND -- (Marketwire) -- 10/22/09 -- Propalms, Inc. (PINKSHEETS: PRPM)
is pleased to announce the Company has completed the acquisition of Focus
Systems, Inc., a fast growing "cloud" computing company. The acquisition
was valued at $225,000 and the purchase price is to be paid in restricted
shares of Propalms, Inc. common stock, based upon a per share value of
$0.03. William Wright will remain as President of Focus Systems, Inc.
Management believes that this technology has a multi-million dollar market
potential for Propalms, and with its strategic relationships worldwide, the
Company believes that they can fast track bringing the technology to
market. Focus Systems, Inc. is a vertically integrated desktop
virtualization and voice over IP (VOIP) provider. Focus Systems' business
model is to keep an organization's entire process in-house by utilizing
their own servers and support staff to handle their client's networking
needs. The company's clients are mainly small and medium sized businesses
who are able to utilize Focus System's solution to lower their costs of
maintaining servers, hiring or maintaining an IT staff, and to avoid
purchasing costly PC's that become obsolete in a few years, essentially
allowing their customers to operate in a "cloud."
"I am excited about the relationship with Propalms. Their distribution and
sales channels worldwide will enable Focus Systems to develop a whole new
level of clients," stated William Wright, President of Focus Systems, Inc.
"This is a great opportunity for Propalms to expand our product offering in
this very exciting growth market space. The acquisition of Focus Systems
will bring added value our shareholders and the Company as a whole," stated
Robert Zysblat, President, Propalms, Inc.
About Focus Systems, Inc.:
Focus Systems, Inc. is a service orientated, desktop virtualization, remote
desktop and VoIP information technology provider. Focus Systems clients do
not need to purchase a server or even PC's to use their service and fully
benefit from it. Focus Systems enables their clients to realize the value
of being able to expense the cost of their entire service as opposed to
amortizing it over the life of purchased equipment, which in many cases
will be obsolete before the tax benefits are realized. For more
information, please visit
www.focus-sys.com.
About Propalms, Inc.:
Propalms, Inc. is a global provider of application delivery solutions for
terminal services and virtual desktop infrastructures. Delivering to
enterprises of all sizes, Propalms offers reliable, scalable and affordable
solutions that simply work. Our belief is that application delivery
solutions should be flexible, dynamic and, above all, simple to use. For
more information, please visit
www.propalms.com
Safe Harbor Act: This release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 that involves risks and uncertainties including, but not
limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of technology,
equipment, or human resources, the effect of economic business conditions,
and the ability to attract and retain skilled personnel. The Company is not
obligated to revise or update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of this
release.
Contact:
Investor Relations
Big Apple Consulting USA, Inc.
1-407-389-5900
Investor Relations
Big Apple Consulting USA, Inc.
1-407-389-5900
MARKET WIRE
2009-10-22 11:00:10
COMMENTS ( 0 )
Latest Money News
CNNMoney
- Talk about a low interest rate: U.S. Treasury borrows $44 billion for less than 1%
- Google set to map the world - and push out GPS makers as a result?
- Washington Mutual gave a mortgage to O.J. Simpson
- Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
- Deere up on Q4 earnings performance