Message #38 From:
NewsBot Date: August 23, 2005 09:00:00 AM
STTC News SoftNet Technology Subsidiary, Indigo Technology Services, Enters into a Network Engineering Agreement with CompUSA
BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Aug. 23, 2005--SoftNet Technology (OTCBB Symbol: STTC) (German WKN#: A0B7RZ) announced today an agreement between retail giant CompUSA and SoftNet Technology's wholly owned subsidiary, Indigo Technology Services, to provide highly specialized network engineers and systems developers for a long term project with a nationally recognized law enforcement information systems company.
Indigo's engineers will provide core knowledge and implementation experience to a fast moving project in the southeastern United States. The ability to deliver highly skilled and trained professionals was cited by CompUSA as a core competency of Indigo, and a chief factor in their decision. This relationship has been building for some time with both CompUSA and Indigo looking to further grow the relationship into the future.
This new arrangement is confirmation of the continuing success brought in part by Indigo's strategy to significantly grow revenue by leveraging cross-marketing opportunities with existing clients of newly acquired firms. This strategy has served to lower Indigo's total cost per sale and has helped the company grow revenues by more than 500% on a monthly basis over the first 7 months of the year.
"It truly is a testament to the incredible progress made by Indigo to be working with the leading computer retail giant - CompUSA," said Mr. James M. Farinella, CEO/President of SoftNet Technology. "Indigo is now entering a stage where they will be growing at incredible rates for the foreseeable future."
Please visit our website at www.softnettechnology.com for more information or for Investor Relations, please contact Stephanie Soleas, Blue-Sky Solutions at (877) 4-BLUE-IR or sttc@blueskyir.com. You may also call the company directly at 866-898-4842 (local - 908-204-9911) James M. Farinella, CEO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
