MONTREAL, Sept. 28, 2006 (PRIMEZONE) -- Jati Technologies Incorporated (Pink Sheets:JTKG) announced today the acquisition of Volansa Technologies Inc., a Montreal-based innovative software development company with a focus on product design and development. This acquisition comes as a congruent move within the context of its new business direction to extend its lead in the product development market. The manpower and guest management solutions of Volansa complement the WinTIME and other products in the Jati Technologies Portfolio of products and enhance the value of the Jati offering.
"The fit between Jati and Volansa could not be more fortuitous," said Albert Delmar, CEO of Jati Technologies Inc. "The Volansa products and the Jati Soft Dimensions products together provide exciting opportunities to businesses in a vast range of activity. They complement each other beautifully."
"Jati Technologies and Volansa share a common commitment to developing innovative products for public and private sector in the growing market of web-enabled technology," said Albert Delmar, CEO of Jati Technologies. "Volansa is working on a number of compelling search and rescue and web technologies. It is a dynamic addition to Jati's incubator of new technologies for the global market."
For Jati Technologies Inc., the acquisition of Volansa follows closely on the heels of the acquisition of Tom Calls Me Inc. announced on September 12th, 2006. Financial terms of the agreement were not disclosed.
The acquisition of Volansa with its positive revenue stream and high value IPs is of special interest to investors. Not only does its acquisition entail no cash outlay on the part of Jati, but also Volansa's IP adds considerable value to the Jati offering.
Volansa Technologies Inc. (www.volansa.com) is a frontrunner in technology product conception and design related to search and rescue and web disaster management. A developer of unique products for this market, Volansa was founded in 2004 by innovative technical specialist Nikhil Varma. The Volansa holdings include 30% of U-Find Inc., the radio signalling based solution for wilderness area search and rescue.
The Volansa team has expertise in real time and mission critical software development, along with its partner companies, Volansa provides software services in the area of web technologies and desktop applications in open source (Linux) and Microsoft technologies (.net 2.0). Volansa also has partners that provide outsourcing of accounting and bookkeeping for small and medium sized businesses. Volansa is aggressively working on creating partnerships with local and global players to provide high-end technological solutions.
Through partnering with Canadian based Talkio Inc. (www.talkio.com), Volansa is also involved in the development of the next generation of web analytics with a planned rollout for Beta customers in early 2007.
Volansa's President and Chief Executive Officer Nikhil Varma brings almost a decade of software development and innovation to the Jati team. He will continue with his responsibilities for software development, project management and R&D product design based on his experience in Australia, India and Canada. He brings to Jati a decade of research experience in the areas of real time systems, embedded applications and functionalities of software products.
About Jati Technologies Inc.
Jati Technologies Inc. develops and markets proven, innovative software solutions for specific growth markets. Incorporated in 1997 and headquartered in Montreal, Jati Technologies Inc. is an incubator for software development and services companies, bringing global telecommunications solutions, call centre solutions and new generation web technologies to the marketplace.
For more information, visit www.jatitech.com
Jati's Safe Harbour Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward looking statements." Forward-looking statements in this release may be identified through the use of such words as "expects", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.
For further information, please send inquiries to: investors@jatitech.com