CHICAGO, July 23 /PRNewswire-FirstCall/ -- NaeroDynamics, Inc. (Pink Sheets: NAEO) today announced that it has acquired Information Edge Telco Solutions, Limited, an Irish Corporation (IETS). IETS provides continuous performance improvement, financial management and business information solutions for telecommunications companies as well as large corporate enterprises that utilize significant telecommunications networks. IETS has the capability to cleanse and normalize large quantities of data. Its unique ECM proprietary software has been specifically developed to carry out end to end circuit inventory management quickly and accurately from the disparate data sets obtained from clients. This software, along with the vast hands-on experience and knowhow of the IETS team, provides an intellectual advantage that equates to the identification of significant savings, typically 20% - 40%, of a customer's annual network expenditure. Capital Growth Systems, Inc. d/b/a Global Capacity was impressed by the capability of ECM and has entered into an agreement with IETS whereby IETS will provide front end data cleansing services for Global Capacity related to its telecommunications circuit cost optimization business. As part of this contract, IETS is currently providing cleansing services to Global Capacity on networks in over 30 countries.
Additionally, as part of the acquisition, Rohan Chanmugam and Vilosh Brito, CEO and Director of Systems and Solutions of IETS respectively, have joined the NaeroDynamics board of directors, effective immediately.
Mr. Chanmugam has over 25 years experience in the Telco sector including senior management and board level roles in several major global organizations. He is the founder and Chairman of niche Telecoms consultancy Clevercoms. His previous roles include -- Senior Vice President, Network Business Management at Equant (now Orange Business Services); Deputy Managing Director and Senior Vice President Finance, SITA Equant JV and Managing Director, BT [British Telecom] Aeronautical and Maritime. In addition Mr. Chanmugam has had several special advisory appointments including -- Strategic Advisor to the CEO of COLT Telecom Group (the UK's third largest operator).
Mr. Brito has over 30 years of sound worldwide commercial experience in financial and operational management. His prior positions include: Founder and Managing Director of Decsisys Ltd.; Managing Director of CIMDEC Ltd -- an off-shoot of Digital Equipment Corporation (NZ) and Finance Director, Pepsi Cola in New Zealand.
Lee Wiskowski, Co-CEO of NaeroDynamics stated, "We are extremely excited to have Rohan and Vilosh as part of our company. Rohan has over 25 years of relevant experience carrying out cost management and revenue generation for Telcom operators over the world and Vilosh has over 30 years of world-wide experience, both of which will be invaluable to executing the business plan."
Rohan Chanmugam, CEO of IETS also stated, "We are extremely pleased to be part of NaeroDynamics. Having their access to capital and their relationships in the US market will only enhance our strong partnerships throughout the rest of the world. This will help us to accelerate growth of the business."
Doug Stukel, Co-CEO of NaeroDynamics stated, "The current worldwide economic conditions make our service offering even more important to large telecommunication companies and other corporate users. Their history of realizing significant savings in the Telco spending arena makes us quite confident that we can become an industry leader in this space."
Forward-Looking Statements
Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the company's inability to accurately forecast its operating results; the company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the company's business. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT:
Skip Behm
NaeroDynamics, Inc.
630-271-8590
SkipBehm@naerodynamics.com
Maria Chanmugam
IETS
+44 20 7681 6989
maria@clevercoms.com
SOURCE NaeroDynamics, Inc.
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