BETHLEHEM, Penn., April 25, 2008 (PRIME NEWSWIRE) -- Today, Edentify, Inc. (OTCBB:EDFYE), a leading provider of identity management solutions, announced the appointment of George Caravias to the position of Senior Vice President, Head of Business Development. Caravias' expertise will assist the company in managing the high demand for its consumer-oriented product offerings and the positioning of Edentify's new products set to be released later this year.
"We have seen an increase in the demand for our IDAlert(tm) product in the consumer sector; the volume of identities monitored last month was our highest ever," said Terrence DeFranco, CEO of Edentify, Inc. "George's background in successfully building several early stage companies into successful enterprises and his marketing expertise are a great fit for Edentify at this stage and we are very pleased to bring him onboard."
Caravias brings twenty-five years experience in the information technology and telecommunications industries in the United States and internationally. As a portfolio manager at a midsized private equity firm, Caravias was responsible for maximizing the value of an early-stage $200 million venture portfolio. His previous work as an entrepreneur included establishment, management and profitable exits of a US$240 million Australian telecommunications company, a US$10 million web hosting business, and turnaround of a software venture. Caravias' began his career in the defense industry with Hughes Aircraft, where he developed software systems for design, manufacturing and network management. He has held responsibilities in engineering, project management, sales, marketing and general management.
"Serving on Edentify's management team is a tremendous opportunity for me," says Caravias. "After twenty-five years in the technology industry, I understand the challenges of early stage companies and feel that my track record and skills will benefit an already valuable and unique set of solutions. I am thrilled to work with a quality management team to foster the company's evolution in this growing and important industry. I believe my knowledge and expertise will enhance this effort, and compliment the company's strategic plan for battling identity fraud."
Additionally, Edentify announced that Tom Harkins, Chief Operating Officer, has recently resigned from his position. Harkins, however, continues to work with Edentify as a partner with FNB Merchants and remains on the Edentify Board of Advisors.
About Edentify, Inc.
Edentify, Inc. (www.edentify.us) was formed in August 2004 with the objective of becoming the leading organization in the field of developing and deploying data analysis technology solutions for preventing identity theft and fraud. It is currently a later-stage development company and expects shortly to begin a period of increased growth. Edentify will seek to fulfill its goals by analyzing the means by which identity crimes are perpetrated, and through the development of new technologies and procedures to assist corporations, the government, and consumers in the fight against identity fraud and related crime.
Forward-Looking Statement
This press release may contain forward-looking statements that are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements of future goals and similar statements reflecting other than historical facts constitute forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, which are described in Edentify's filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. Edentify undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.