IceWEB, Inc. (OTCBB:IWEB), a leading one-stop source for best-of-class computing hardware, on-demand software, advanced networking solutions and innovative online services, today announced that it has entered into a binding Letter of Intent to acquire INLINE Corporation, a privately held U.S. company that has earned a reputation as a globally recognized leader in the manufacturing of enterprise data storage. Subject to due diligence and board approvals, the closing of the acquisition is expected to occur on or before December 31, 2007.
John R. Signorello, Chairman and CEO of IceWEB, stated, “INLINE represents an ideal fit for IceWEB, particularly when considering that both our companies intimately understand and appreciate the range of complexities and sensitivities inherent in managing large scale network deployments within government and enterprise IT environments. Further, because INLINE and IceWEB share similar business principles and corporate cultures, we believe that the integration of our companies will progress smoothly and rapidly and our respective strengths will be quickly leveraged and enhanced.”
“A key element of our long term business strategy is to intelligently expand our portfolio of proprietary, branded products and services so that we may fully capitalize on prevailing growth opportunities present in the global market place,” continued Signorello. “By manufacturing and marketing our own line of solutions, we will benefit from greater competitive differentiation, increased profit margins on sales and an entire universe of prospective new enterprise customers operating in countries outside of the United States. As we successfully integrate INLINE, it can be expected that we will expand our presence in Europe, Asia and South America in the coming year.”
John R. Tibbitts, CEO of INLINE Corporation, added, “Rarely when merging two unique companies can you find so much synergy and complement. It was immediately clear that both companies current and future customers will greatly benefit from this larger and stronger team. Our customers will immediately benefit from the unification of Data Storage Appliances, Clustered Virtual Platforms, Embedded Security Modules delivered on Turnkey 'Complete' appliances and through our existing Online Storage & Application providing data centers services. We will have an unmatched ability to deliver tomorrow’s Service Oriented Architecture (SOA) through online services or rapidly deployable hardware platforms, today.”
About INLINE Corporation
For well over a decade, INLINE Corporation has been the leading manufacturer of high value, competitively priced, intelligent data storage solutions designed to solve specific storage-centric IT challenges. Based within Northern Virginia’s high-tech corridor, just outside Washington, DC, the Company provides government, commercial customers and universities with top-performing, reliable storage, information management and infrastructure systems specifically engineered to perform within their respective IT environments. INLINE is the proud recipient of Deloitte & Touche Technology Fast 500 recognition as well as the Technology Fast 50 recognition. For more information on the TRUENTERPRISE TE244, or any of the INLINE storage product offerings, please visit the Company’s website at www.inlinecorp.com or call at 800-465-4637.
About IceWEB, Inc.
Through its own suite of proprietary offerings and in partnership with numerous global technology leaders, IceWEB, Inc. delivers advanced hardware, software, solutions and online services to U.S. government agencies, enterprise companies, small to medium sized businesses (SMB) and tech-savvy consumers.
A Microsoft Gold Certified Partner, IceWEB also utilizes a Software as a Service (SaaS) model that provides SMB customers with the same enterprise class technologies that were once reserved for large corporations. By subscribing to IceWEB’s flagship products, IceMAIL and IcePORTAL, SMBs can enjoy the benefits of these more advanced and robust software systems on a low ‘pay as you grow’, ‘on-demand’ basis, instead of being subjected to large up-front capital costs typically associated with complex IT deployments.
For more information, please visit http://www.IceWEB.com or http://www.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.
IceWEB Investor Relations
Elite Financial Communications Group, LLC
Dan Conway, Chief Strategy Officer, 407-585-1080
dan@efcg.net