IceWEB Signs Letter of Intent to Acquire Computers and Tele-Comm, Inc.
IceWEB, Inc. (OTCBB:IWEB), an award-winning Unified Data Storage
appliance provider for cloud and virtual environments that features
highly secure, scalable IceBOXTM Private and
Hybrid Cloud solutions, today announced that it has executed a
Letter of Intent to acquire Computers and Tele-Comm., Inc. (“CTC”), a
privately held technology company, founded by visionary technologist
Graeme Gibson, and built over the last decade alongside Executive Vice
President of Sales, Larry Levin. Headquartered in Kansas City, MO., CTC
owns and operates a full service, uniquely expandable datacenter, a
wireless Internet Service Provider, and a carrier-neutral Network Access
Point (NAP), which represents a unique and strategically valuable asset.
Rob Howe, IceWEB CEO, will host a webcast discussing the details of the
acquisition in depth this Thursday, March 7, 2013 at 5pm Eastern
Standard Time. The web address for the streaming webcast is http://events.tvworldwide.com/events/iceweb/130307iceweb.aspx.
“This acquisition positions IceWEB as a complete cloud services
company,” said Rob Howe, CEO. “We will now be able to aggressively
compete in the cloud computing space, which is estimated by Forrester
Research to reach $55 Billion in 2014. We have firmly established
ourselves in the storage market and the Bring Your Own Device (BYOD)
file-sharing space. This acquisition adds a major set of additional
critical components, capabilities and extensions to those solutions,
beginning with our own fully secure, powerful, and expandable
datacenter,” Howe said.
Commenting on the acquisition, Graeme Gibson, Founder and Chief
Technology Officer of CTC and the KC NAP said, "We are immensely pleased
to be able to combine the unique technological strengths of our
companies and to join this executive team led by CEO, Rob Howe. In June
of last year, we embarked on an effort with Streamside Ventures to scale
our capabilities and our reach. This new opportunity with IceWeb is the
culmination of years of hard work with our combined talent and the
leadership of our Streamside partners. In our first conversations with
IceWEB, the powerful synergies between our two companies became obvious.
IceWEB’s unique equation of Data Storage hardware and software and their
advanced capabilities in BYOD and the cloud, in combination with our
NAP’s routing power and our datacenter's enormous expandability will
create a formidable force in the market. The value of the NAP's
distribution and connectivity to all of North America at latencies
impossible to achieve from either coast cannot be overestimated.”
Howe added, “It is important for our customers and shareholders to fully
comprehend the unique physical assets of CTC. The carrier-neutral NAP is
not only a rare, highly-sophisticated technology, but it also represents
a significant competitive advantage in that it enables the datacenter to
provide customers with the lowest transmission latency possible. That
means their data moves faster, saving critically important time. With
this acquisition, we are also gaining the ability to expand the
datacenter on-demand into an astounding one million or more square feet
of highly secure, energy efficient, disaster-proof space in a
purpose-built structure housed in an underground limestone cavern. These
capabilities, security and expandability are success-critical in the
cloud services arena, and now IceWEB has them.
When you add to that the CTC wireless ISP business, you have a set of
capabilities unique in the cloud services industry. IceWEB will have the
ability to address literally every critical need of customers seeking
full or hybrid cloud solutions with unlimited capacity and expandability.
IceWEB has acquired remarkably talented people, defensible technology
and enormous capacity. The onslaught of the Bring Your Own Device (BYOD)
age of extensible information management in the cloud (XIM) has exploded
upon and totally disrupted the Information Management world. Executive
management and IT managers alike must find complete, secure solutions,
and they must find them now. With this acquisition, IceWEB has barged
our way to the front in the race to capitalize on that BYOD disruption,
with secure, flexible and highly affordable solutions for customers
available now in the Commercial, Education,
Government, Hospitality, Healthcare and Non-Profit sectors.
This launches a new era for IceWEB. We will lead, and we will lead
boldly.” Howe concluded.
Advising the companies on the merger is Source Capital Group, Inc. (www.sourcegrp.com),
a boutique investment bank based in Westport, CT focused on emerging
growth companies in the Communications, Internet, Digital Media, Energy,
and Clean Tech industries.
For more information please call 800-465-4637 or visit www.IceWEB.com.
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press releases, please send an e-mail to ir@iceweb.com.
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