SOMERSET, N.J., July 28, 2005 (PRIMEZONE) -- Software International, Inc. (Pink Sheets:SWII), an innovative provider of global information technology implementation and development services, today announced it has acquired eZe Systems, Inc., a provider of on-demand Enterprise Content Management implementation and development.
eZe Systems Inc., established in 2000, employs skilled technical and business professionals from around the world to provide implementation of information technology, including EMC Corporation's Documentum solution, which allows users to manage documents, memos, e-mails and other business information.
Suneel Sawant, Software International's CEO, commented, "We believe this acquisition could more than double our revenue and significantly increase our profits, and should be very accretive to our shareholders. With the acquisition of eZe Systems we believe our company has added important and growing segment expertise to our existing portfolio of services. Enterprise Content Management is a $4 billion market today and is estimated to grow to $8.5 billion by 2008. With the addition of eZe Systems, we believe we have the ability to capture a larger share of this revenue. This acquisition is consistent with our stated strategy of growing both internally and through aggressive strategic acquisitions of profitable and growing companies, which we believe will have synergies with our existing business."
K.R. Shibu, Founder and President of eZe Systems, stated, "Our company and employees are very excited to be part of a growing and dynamic public company. We believe our clients will be comforted by the move and will now benefit from being part of a larger organization."
Financing for a portion of the acquisition was provided by Barron Partners, LP, a New York-based private investment partnership that specializes in investing in micro-cap public companies.
About Software International, Inc.
Software International provides a full suite of on site, onshore, and offshore application development services (ADS) and IT consulting to Fortune 1000 companies in the financial, brokerage, manufacturing, pharmaceutical, legal and insurance industries worldwide. Every project is fully staffed and managed by Software International's team of project managers, engineers, technical support and account management professionals.
About eZe Systems, Inc.
eZe Systems has, since its inception, provided high-end software implementation and development especially in the Content Management, CRM, Data Warehousing and Business Intelligence Tools segments of the software consulting industry. eZe Systems specializes in implementing Enterprise Content Management solutions, including EMC Corporation's Documentum solution.
Forward Looking Statements
This release is provided in compliance with Commission Regulation FD and contains certain "forward-looking statements." Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumption or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such statements reflect the current views of Software International, Inc. with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of the underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed or expected. Software International, Inc. does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.