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
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