Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud.
We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
LOS ANGELES, CA -- (MARKET WIRE) -- 08/09/06 -- Redux Holdings, Inc. (PINKSHEETS: RDXH)
announced today that it has established a strategic relationship with
WebMenu, Inc. As part of this relationship, Redux Holdings has acquired a
30% interest in the privately held software company.
WebMenu, Inc. is a leading edge, computer software firm whose primary
business is focused on the creation and marketing of keywords using a new,
patented search engine. Last year, WebMenu, Inc. grossed over $33 million
in revenue selling keywords through its internet search engine,
www.WebMenu.com.
Historically, WebMenu has retained the services of independent call centers
and currently utilizes the services of 115 independent sales
representatives. As part of the strategic relationship being announced
today, Redux Holdings has acquired the exclusive rights to become the
master seller of keywords for WebMenu. This development will improve the
sales and marketing of the WebMenu product lineup as the new sales force
will be operated via the nearly acquired 150 station call center owned by
Redux Holdings (See
http://www.firstcapitalinvestors.com/newsmore.php?article=134 for
additional information).
In addition to search engine capabilities, WebMenu has an existing
inventory of internet software applications that are fully developed, but
which have not yet been deployed, primarily due to a lack of capital
funding and marketing expertise. As part of the strategic relationship,
WebMenu has agreed to sublicense a number of these software applications to
Redux Holdings.
Adam Michelin, Redux Holding's Chairman and CEO commented on the strategic
developments, "We are working to rapidly deploy our recently announced
asset purchases and believe that the investment and partnership with
WebMenu is a very positive step in the right direction. This partnership
allows us to ramp up production levels at our call center, while at the
same time enhance the value of our capital investment in WebMenu. The
internet portal will also provide an effective platform for other business
developments as well as advertising opportunities. We are actively seeking
additional opportunities and will update the public as developments occur."
Redux Holdings acquires assets of underperforming and distressed companies
on a non-cash basis and isolates, recombines and manages those assets to
increase their value and to develop profitable strategic options. The
Company is distinguished by the extensive experience of its personnel in
quickly identifying, analyzing and stabilizing these businesses
opportunities and effecting rapid turnaround and asset monetization.
Safe Harbor:
This press release may contain forward-looking statements. The words
"estimate," "possible" and "seeking" and similar expressions identify
forward-looking statements, which speak only as to the date the statement
was made. The company undertakes no obligation to publicly update or revise
any forward-looking statements, whether because of new information, future
events, or otherwise. Forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted, or quantified.
Future events and actual results could differ materially from those set
forth in, contemplated by, or underlying the forward-looking statements.
The risks and uncertainties to which forward-looking statements are subject
include, but are not limited to, the effect of government regulation,
competition and other material risks.
Investor Relations:
First Capital Investors, Inc.
Trey Meehan
321-221-2910 Email Contact