HERNDON, Va., Nov. 11, 2010 (GLOBE NEWSWIRE) -- ePlus inc. (Nasdaq:PLUS) today announced that its subsidiary, ePlus Technology, inc., has acquired the operating business of Interchange Technologies, Inc. (ITI), a Tandberg Platinum Partner with advanced expertise in audio and video communication technologies. ePlus immediately gains Tandberg Platinum Partner status, adding to its current credentials as a Cisco TelePresence authorized technology provider as well as a Cisco Master Unified Communications specialized and Cisco WebEx certified collaboration solutions partner. With the acquisition of ITI, ePlus will immediately be able to provide customers a single source for a full spectrum of solutions and services in the teleconferencing, audio and video, unified communications (UC), and collaboration market space to meet their diverse business communications needs.
ePlus has formed an "Advanced Audio and Video Solutions" practice with the capability to design powerful video and distribution solutions around clients' specific needs for enhanced collaboration. This practice expands the networked technology offerings available from ePlus and enhances its ability to deliver complete, purpose-designed, interoperable infrastructure solutions. In addition, ePlus' Managed Services provide holistic support of the technology platform, ensuring the highest quality of service to the client.
"We're pleased to welcome Interchange Technologies to ePlus. ITI's demonstrated experience with Tandberg solutions is a strong complement to our existing Cisco practice as a Cisco Gold Certified partner. By combining our joint expertise and other investments we've made, ePlus will have greater capacity to deliver integrated video collaboration solutions to customers, including streaming media, audio and visual integration, and digital signage," said Phillip G. Norton, Chairman, President, and Chief Executive Officer of ePlus. "We look forward to the opportunity to further empower organizations to address their video initiatives, helping them accelerate workgroup communication and decision making with their employees, customers, partners, and suppliers."
"Becoming part of the talented team at ePlus is a great opportunity for Interchange Technologies' staff and customers," said Rick Green, president of Interchange Technologies, Inc. "By joining our resources and technical expertise, we are well positioned to help customers realize the benefits of Cisco's vision of converged visual and digital communications and take their Tandberg experience to the next level."
ePlus is a Cisco Gold Certified Partner and has achieved Cisco Master specializations in Security and Unified Communications as well as the Cisco Managed Services Master Certification. In addition, ePlus holds Cisco specializations in Advanced Routing and Switching, Advanced Data Center Storage Networking, Advanced Data Center Networking Infrastructure, and Advanced Wireless LAN. The company is a Cisco Authorized Unified Meetingplace partner and holds Cisco Authorized Technology Provider (ATP) designations in Cisco TelePresence, Video Surveillance, and Data Center Unified Computing. For more information about Cisco solutions from ePlus, visit http://www.eplus.com/cisco.
The transaction with Interchange Technologies included certain assets and the assumption of specific liabilities, and closed on November 10, 2010, subject to the future transfer of funds because November 11, 2010 is a bank holiday. Terms of the transaction were not disclosed.
About ePlus inc.
ePlus is a leading provider of technology solutions. ePlus enables organizations to optimize their IT infrastructure and supply chain processes by delivering world-class IT products from top manufacturers, professional services, flexible lease financing, proprietary software, and patented business methods. Founded in 1990, ePlus has more than 650 associates in 20+ locations serving federal, state, municipal, and commercial customers. The Company is headquartered in Herndon, VA. For more information, visit http://www.eplus.com, call 888-482-1122, or email info@eplus.com.
About Interchange Technologies, Inc.
Interchange Technologies, Inc. (ITI) is a global solutions integrator committed to helping clients work more intimately and efficiently with converged video, data, and web collaboration. ITI is an established and well respected organization within the video conferencing and audio/visual integration marketplace with many years of experience delivering flexible, integrated communications solutions. For more information, visit http://www.iti-go.com/.
ePlus® and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries.
Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary materially due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, the possibility of additional goodwill impairment charges, and restrictions on our access to capital necessary to fund our operations; the demand for and acceptance of, our products and services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; our ability to consummate and integrate acquisitions; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to reserve adequately for credit losses; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this press release is current as of the date of this release and ePlus undertakes no duty or obligation to update this information.