Published:
Viyya Technologies to Acquire iConcepts, Inc.
Acquisition Projected to Add More Than $2 Million to Viyya Revenue for 2005
Viyya Technologies, Inc.
(OTC: VYON), a technology company that has developed and is currently
marketing one of the world's most advanced, web-based information
management applications, announced today that it has signed a transaction
agreement to acquire iConcepts, Inc., a developer of technology solutions
that turn data into information.
Headquartered in Lansdale, PA, iConcepts has served as the development arm
of Viyya Technologies and currently serves Fortune 1000 companies in the
telecommunications, financial services and wine and spirits industries. The
company's strong software development capabilities allow it to provide
cost-effective tools that meet the needs of a wide variety of enterprise
based users.
iConcepts was founded in 1998 by Dr. Vincent J. Coll, Jr. to formulate
solutions for the index, search, and retrieval sector. The company has
grown organically and now has satellite offices in Sophia, Bulgaria and
Moscow, Russia. iConcepts unaudited financials statements for 2004 report
more than $2.8 million in gross revenues and $244,000 in net income.
Under the terms of the total stock agreement, iConcepts will function as a
wholly owned subsidiary of Viyya Technologies. The VIYYA(TM) and iConcepts
product lines will continue to deliver to their existing markets, and the
companies will immediately begin blending components of their respective
technologies for future new product introductions into both the consumer
and enterprise markets.
"We view iConcepts as a very complementary company that will immediately
impact our bottom line. iConcepts brings a solid track record of
technological innovation and sales growth, as well as potential for
substantial revenue and profit over the coming years," said John Bay, CEO
of Viyya Technologies.
"John Bay has spent his career designing leading-edge products and
services, and VIYYA(TM) is a perfect example of his innovative thinking. We
are very excited about working together to strengthen VIYYA(TM)'s core
technology as well as package and deliver additional index, search and
retrieval products in the content management markets," added Dr. Coll,
president of iConcepts.
About Viyya Technologies, Inc.:
Viyya Technologies is a technology company that has developed and is
currently marketing one of the most advanced, web-based information
management applications for use in the home, in the office and while
traveling. The company's core technology manages disparate information
from the Internet, corporate intranets, databases, newsgroups, e-mail and
third-party feeds by enabling users to customize the way they collect,
process, distribute and store data. VIYYA(TM) gives users the ability to
retrieve filtered content from many sources, determine the relevancy of the
information and have the information processed into notifications, daily
reminders, newspapers, or archived for future use.
Viyya Technologies trades on the Pink Sheets under the ticker symbol VYON.
For additional company information, please visit www.viyya.com or contact
Viyya Technologies at 973-226-6646. For investor relations information,
please contact Jesus Rodriguez at 305-776-4535.
About iConcepts, Inc.:
iConcepts(TM) focuses on building and supporting technology solutions that
turn data into information. Through its core strengths in data acquisition,
web based archiving and information distribution, coupled with strong
software development capabilities, iConcepts(TM) is uniquely qualified to
provide cost-effective technology solutions. For more information, please
visit www.iconcepts-inc.com.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking
statements" as defined in the Private Securities Litigation Reform Act of
1995 may be included in this news release. These statements relate to
future events or our future financial performance. These statements are
only predictions and may differ materially from actual future results or
events. Viyya Technologies disclaims any intention or obligation to revise
any forward-looking statements whether as a result of new information,
future developments or otherwise. There are important risk factors that
could cause actual results to differ from those contained in
forward-looking statements, including, but not limited to risks associated
with changes in general economic and business conditions, actions of our
competitors, the extent to which we are able to develop new services and
markets for our services, the time and expense involved in such development
activities, the level of demand and market acceptance of our services and
changes in our business strategies.
Distributed by Market Wire
Copyright © 2008, MarketWire
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Daily News
Tags: ,Computers and Software:Internet, ComputersandSoftware:Networking, ComputersandSoftware:Software, ,INTHPINK,,WEST CALDWELL, NJ and LANSDALE, PA
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