JE, news on IWEB now .70 from low .50's! Sorry about calling you Jane earlier btw: IceWEB Acquires $28,000,000 True North Solutions Federal Government Business Unit
Thursday November 2, 1:11 pm ET
HERNDON, Va.--(BUSINESS WIRE)--IceWEB, Inc., www.iceweb.com (OTC BB:IWEB - News) a leading provider of Hosted Microsoft Exchange services, enterprise software and network security infrastructure services, announced today that it has acquired the Federal Government Business operations of True North Solutions, Inc. a wholly-owned subsidiary of American Systems Corporation. True North Solutions, Inc.'s Federal Government Business is a profitable, Federal Government focused Information Security Solutions company that produced $28,240,000 in federal sales in 2005.
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John R. Signorello, Chairman and CEO of IceWEB, said, "True North delivers important services to meet the needs of protecting critical assets for our customers. True North's customer list represents a Who's Who of Federal Government Agencies. IceWEB will acquire along with the customer list, a multitude of valuable vendor relationships (e.g. Secure Computing (NASDAQ:SCUR - News), F5 Networks (NASDAQ:FFIV - News), Citrix (NASDAQ:CTXS - News) and many others), a respected GSA Schedule Contract, and a Federal pipeline for 2006-07. Key employees from True North will immediately join IceWEB to ensure continuity of ongoing opportunities. IceWEB's acquisition of True North Solutions Federal Operations creates one of the largest and most respected Information Security vendors to the U.S. Government."
"We're excited to join the IceWEB organization," said Harold D. Slover, True North Solutions Director of Federal Sales. "Our ongoing sales efforts are continuing full steam and we look forward to being a significant driving force in growing the company. Our areas of expertise as well as our vendor relationships are complementary and will serve to enhance and elevate our recognition within the federal government marketplace. We believe that this acquisition will enable IceWEB to become the premier network security solution provider for the U.S. Government."
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About IceWEB
IceWEB, Inc. (OTC BB:IWEB - News), utilizes a hosted software services model that brings technologies normally reserved for large corporations to the small business customer. Small businesses can now have the benefits of these more advanced software systems for a low monthly subscription price instead of large up-front capital expenses. IceWEB also provides network infrastructure solutions services to our enterprise and Government customers with a specific focus on network security, authentication, and PKI encryption systems. Founded in 2000, IceWEB is headquartered in Herndon, VA, and serves customers in the public and private sectors. For more information, please visit iceweb.com or icemail.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to business conditions and the amount of growth in the computer industry and general economy, competitive factors, and other risks detailed from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-K and its quarterly reports on Forms 10-Q. The Company does not undertake any obligation to update forward-looking statements.
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Contact:
IceWEB, Inc.
Editorial Contact:
Gary Dunham, 703-344-0951
gdunham@iceweb.com
or
Investor Contact:
Gary Dunham, 703-964-8000 or 800-964-8850 ext 0961
investor@IceWEB.com
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Source: IceWEB, Inc. |
