TEMECULA, Calif., Jan. 11, 2005 (PRIMEZONE) -- S3 Investment Company (OTCBB:SEIH) today announced that, as a result of the acquisition of TSPartner completed last week, the combined subsidiary of TSPartner and Securesoft Systems will be named "Secure System Solutions." The company also announced additions to its management team, bringing key members of TSPartner into the leadership structure of S3 Investments.
TSPartner will be merged with the Securesoft Systems subsidiary and the two companies will become one. In addition to new roles in S3 Investment Company, the former management of TSPartner will manage the new combined company. Having experienced, successful and knowledgeable people managing this combined subsidiary is expected to improve the company's ability to realize the goals for COMPLY, the unique product that has been developed by Securesoft Systems prior to the acquisition. TSPartner has existing operations, sales & marketing, technical support, software development, implementation and assessment operations that have been recognized as ideal fits for what already exists at Securesoft Systems. Additionally, the existing revenue generating operations, as well as 100% of the revenue from the COMPLY product, will come in-house to the S3 Investment portfolio.
Three key people at TSPartner will migrate to significant roles as officers at the S3 Investment parent company over the next six months. These three individuals will have dual roles at the subsidiary level as well as at the parent -- as is the case with all officers of S3 Investment Company.
Chris Bickel, CEO of S3 Investment Company, stated, "There is a lot going on at S3. In a short time, we have assembled a portfolio of companies, projects, and business that require a great deal of time and effort to move forward. In working with the former TSPartner management, I found a group of seasoned, experienced and successful people to round out the management team at both the parent company and subsidiary levels, and I am very pleased that this group of people has joined us. Moving forward, this company will be operated by a team of highly talented and experienced executives while the oversight and guidance will continue to be provided by our majority independent Board of Directors. I personally am very excited to have these people as part of my team, and I have every reason to believe we will be successful executing on our previously stated goals of growth, profitability and building value in the S3 Investment fund for our shareholders."
The three new officers will be Greg Dawson, Chief Operations Officer of S3 Investments and President of Secure Solution Systems, Michael Salas Chief Technology Officer of S3 Investment Company and Chief Technical Officer of Secure Solution Systems and Brad Smith, Executive Vice President for both of S3 Investment Company and Secure Solution Systems.
Greg Dawson, who was the majority owner of TSPartner, will focus initially on his role of President of Secure Solutions Systems and during the next several months, will transition to a dual role that includes the position of Chief Operating Officer of S3 Investments. Greg's background includes over 28 years in Management, Business Development, Marketing, Channel Development, and Sales experience, primarily focused in the Healthcare and Financial Sectors. He directed sales efforts as Vice President of Sales and Marketing for One World Software, delivering software and integration services for hospital and healthcare clients nationwide. Over the past few years, Mr. Dawson developed applications in the healthcare sector, migrating Data General platforms to IBM, Sun, Dell, and HP systems and providing other technology professional services.
Michael Salas was co-founder of TSPartner and will initially focus on the Secure Solution Systems subsidiary work as Chief Technical Officer of that entity. Over the next several months, Michael will also migrate to a dual role as the Chief Technical Officer at S3 and will be responsible for the entire company's technology holdings and work. Mr. Salas has delivered Professional Services and solutions to the healthcare, financial, and technology marketplaces for over 20 years. He has delivered mission critical services to Data General, IBM, Sun, HP and Motorola users and packaged other products and services to meet their needs. Over the past 5 years, he has also been actively involved in HIPAA Assessment, Planning, Remediation, Reporting & Monitoring. He has delivered Disaster Recovery Solutions to hospitals and financial institutions throughout the United States. Mr. Salas is also actively guiding technical professional services teams across the US and Canada.
Brad Smith has joined S3 Investment Company as Executive Vice President after the acquisition of TSPartner. Brad has an extensive background in legal and contractual matters and a wide range of business experience in and outside of the US. Brad is fluent in Japanese and Chinese and will immediately participate in the S3 subsidiaries SINO UJE and Redwood Capital and their business in China. Mr. Smith has fifteen years experience in business development, international trade, finance, competitive business intelligence and intellectual property consulting. Previously, he was co-founder and Chief Operating Officer of IP Intelligence, LLC, a consulting firm providing intellectual property services. He has an M.B.A. in International Management from Thunderbird, The American Graduate School of International Management. Mr. Smith earned a J.D. from Gonzaga University School of Law and completed Santa Clara University School of Law's International Law Program held in Tokyo, Japan.
Company Profile
S3 Investment Co. Inc. (http://www.s3investments.com) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems Inc. (http://www.Securesoftsystems.com), was acquired in April 2003 and is a leader in compliance and risk management software, services and Internet technologies for regulated industries. S3 Investments has also acquired 100 percent of Redwood Capital to participate in the fast-growing investment banking market in China. S3 is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
Safe Harbor
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.