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Systems Evolution, Inc. Announces Strategic Initiative to Grow Through Acquisition and Revenue Generation via COMTEX
May 31, 2006
HOUSTON, May 31, 2006 (BUSINESS WIRE) --
Systems Evolution, Inc. (OTCBB:SEVI), a leading integrator of Microsoft tools and provider of business consulting services, announced today that its Board of Directors has directed the Company to expand its revenue generation capabilities through smart hiring and an acquisition plan. In support of this initiative the Company announces the engagement of Midtown Partners & Co., LLC and the former SEVI President, Richard Hartmann.
Mr. Hartmann will coordinate the merger and acquisition activities under the direction of Robert Rhodes, CEO. Midtown has been engaged to evaluate different strategic opportunities, i.e. potential mergers, joint ventures, acquisition, divestitures and etc. The Board expects these efforts to release long term value to the shareholders. "Mr. Hartman helped orchestrate our original acquisition strategy and he was the logical choice to help identify prospective acquisition candidates that fit our vision, culture, and business plan. Complemented by the strategic vision of Midtown, we expect to create excitement around the shareholders valuation of SEVI," commented Robert Rhodes.
Mr. Hartmann adds, "I see this as an opportunity to help the Company fill out key competencies and expand into new territories. Focusing on the right people, their values, and their reputation in their industry and community is the difference between a strategic growth plan and a roll-up. We want to grow the right way, with profits, not just add revenue."
SEVI is already generating interest around its capabilities, as discussed in the Heather Clancy "Profitability in Software" article in CRN Magazine, last week, at this website: http://www.crn.com/sections/ special/reports/profitability.jhtml?ArticleID=187200108&pgno=7 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
About Midtown Partners & Co., LLC
Originally founded in May 2000, Midtown Partners & Co., LLC is an investment bank focused on private placement investment banking opportunities. The investment banking group at Midtown Partners & Co., LLC was founded on the premise that client relationships and industry focus are keys to the success of emerging growth companies. Such companies require investment banking services from a firm with a unique understanding of the marketplace and the nature of these transactions. Additional information about Midtown Partners & Co., LLC can be found at http://www.midtownpartners.com.
About Systems Evolution, Inc.
Systems Evolution, Inc. ("SEVI"), http://www.systemsevolution.com, is a publicly held professional services organization founded in 1993 that provides software development solutions, Enterprise Project Management consulting, and managed network support through its Consulting division and permanent placement through its Next Hire Consultants division. Its Consulting Division is a Microsoft Gold Certified Partner.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated by these statements. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new opportunities, fulfill all backlogs and the unpredictable nature of business risks; as well as the ability to establish and grow brand awareness of SEVI and other factors set forth in the Company's most recently filed SEC reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. The Company assumes no obligation to update the statements contained in this release.
SOURCE: Systems Evolution, Inc.
Systems Evolution, Inc. Mike Campbell, 713-979-1600 ext. 108 investor.relations*systemsevolution.com
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