BERNARDSVILLE, N.J., May 9, 2005 (PRIMEZONE) -- SoftNet Technology (OTCBB:STTC) (German WKN#: A0B7RZ) announced today that Atlanta, Georgia-based PearlNet LLC has entered into a strategic alliance with SoftNet Technology's wholly owned subsidiary, Indigo Technology Services (Indigo). The relationship is expected to yield large increases in revenue for both companies.
PearlNet has selected Indigo as a strategic partner in supporting their efforts to provide complete network infrastructure services to both governmental and commercial clients. PearlNet's president selected Indigo over several other firms based on Indigo's proven track record of providing skilled resources. PearlNet has established itself as a leader in the southeast United States over the past 10 years for providing quality infrastructure services and has secured several large multi-year projects for which Indigo will be a key resource.
Through aggressive marketing and sales efforts, PearlNet has experienced astronomical growth, exceeding total 2004 revenue in just the first quarter of 2005. Revenues for PearlNet are expected to exceed $8,000,000 for fiscal year 2005. The strategic alliance between PearlNet and Indigo is expected to provide continued and accelerated growth for many years. This partnership is expected to yield a minimum 75% increase in revenues year-to-year for Indigo Technology Services.
"It truly is an honor to have Indigo chosen by a firm of such reputable character as PearlNet, which is operated by such astute business leaders as PearlNet's management," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "I have said that this second quarter was going to be amazing. Well, it now has already met my expectations and leads me to believe that 2005 will be better than originally expected."
Please visit our website at www.softnettechnology.com for more information or call the company directly at 866-898-4842 (local: 908-204-9911, James M. Farinella).
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