Enters Into A Letter Of Intent To Purchase Network Management Technology From Vector Telecom
The acquisition should be complete by the end of August 2008. Terms of the agreement were not disclosed. The new software is expected to substantially extend the Codima Toolbox to become one of the most complete product offerings in the network management arena. The network management market is estimated to be in excess of $2.6 billion according to industry analysts. The new product has the potential of scaling quickly, reselling though the existing worldwide partner network, and significantly increasing the company's revenue.
Through this acquisition, Codima will enter into the growing market for comprehensive network performance products. Traditionally, products in this space are known to be complicated and difficult to use. Vector Telecom Ltd. has successfully developed a highly technical solution using advanced statistical methods. The company has created a network intelligence technology that is easy to use and can be running in minutes, thereby bringing unique values to the end user. It automatically monitors IT networks 24/7 to collect key information on network device performance and makes intelligent use of the extensive data collected. Key benefits for an IT professional include a network intelligence product that requires minimal training, rapidly and automatically finds existing network problems and proactively identifies the weakest links to solve problems that could otherwise take weeks to find.
Network intelligence products significantly enhance how organizations manage their IT networks. Network downtime can be minimized, ensuring that business operations are up and running. The impact on IT network time, savings, and cost efficiency, is fundamental.
"Codima is a front runner in bringing highly innovative, cost efficient and user friendly products to the market. We constantly look for new functions that help improve the Quality of Service of our customer's IT network performance. " said Christer Mattsson, CEO of Codima Inc. "Today organizations worldwide fully depend on IT networks for their business operations and we see the demand for network intelligence products escalating."
Cautionary Note Regarding Forward-Looking Statements:
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including but not limited to statements regarding the Company's beliefs and expectations about the performance and benefits of its technology; marketing and commercialization activities; and our beliefs regarding research and development efforts. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements herein are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after this date.
ABOUT VECTOR TELECOM Ltd.
A software developer specializing in network management product development Vector Telecom Ltd., is highly recognized for its innovative and versatile solutions to manage IT networks. Founded in 1986 the company has a longstanding experience from both hardware and software products. Today the company is focusing on developing network management products that make intelligent use of extensive network information, helping companies to better understand and manage their valuable IT networks. Vector Telecom Ltd. is a privately held company based in United Kingdom.
Codima Inc. (OTC:CDMA) provides best practice software tools to help organizations manage their IT networks from beginning to end. Codima Toolbox delivers tools for VoIP network pre-assessment, traffic simulation, post-deployment monitoring and troubleshooting to ensure successful VoIP implementations, as well as network inventory and network visualization tools using Microsoft® Office Visio®. Focused on easy to use, cost-efficient, highly visual and modular tools, Codima is a leader in VoIP Management and IT Asset Management. Codima, headquartered in Philadelphia, PA, has offices in London, Johannesburg, Stockholm, Sydney and Tokyo and supports partners globally. PLEASE VISIT www.codimatech.com