ISELIN, N.J., Jan. 11, 2008 (PRIME NEWSWIRE) -- SoftNet Technology Corp. (OTC BB:STTC.OB - News) (German WKN:TG6) announced today its 2008 ``go to market'' strategy.
SoftNet has refined its technology practices and organized its market verticals for 2008 in order to leverage the significant progress made over the past twelve months in extending its services and solutions as well as expanding its market presence.
SoftNet's stated strategy is to provide end-to-end coverage of its clients' technology environment, differentiating itself with its integrated approach to both applications and the infrastructure upon which they operate. SoftNet's service and solutions are targeted at driving performance of technology investments which builds value for its Global 2000 client base.
SoftNet has organized its technology and services solutions into two primary practices, each headed by a successful industry executive with experience and insight in their respective sectors. Joe Luminoso, Vice President, will lead the Infrastructure Services practice which focuses on storage, security, server technology, networking and systems integration. Kevin Remley, Vice President, is charged with leadership of the Application Delivery practice. Application Delivery includes application lifecycle management, project management, QA/TQM, custom development and systems integration.
SoftNet also announced that its market focus for 2008 has expanded and been organized into three major verticals: Enterprise, Service Providers and Government. Sales and marketing efforts will be tailored to identify and pursue new clients in each of these verticals. Practice leaders will address opportunities in each market and coordinate with other practice leaders to ensure that account penetration is optimized with new clients. The Company intends to extend each market vertical with a focus on organizations for which technology is a critical element of the client's business/service model. SoftNet will continue its focus on certain sub-sectors such as financial services, communications and media.
Joe Luminoso, SoftNet's Vice President of Infrastructure Services, brings 22 years of leadership to his role. In the past he has served as Director of Professional Service for Network Appliance, EVP of Leading Edge Communications Corp., VP Global Professional Services of Genosys Technology, and Director of Information Services at Paine Weber, as well as VP positions with Computer Associates and Platinum Technology. ``Our opportunity in the infrastructure space is founded on our expertise in certain areas of clients' critical need such as storage and security. We have a great team of highly trained professionals supported by leading edge technology partners and a proven delivery model,'' Luminoso noted. Infrastructure Services is SoftNet's core technology practice, which drove the bulk of 2007 revenues.
SoftNet's Application Delivery practice is headed by another Vice President, Kevin Remley who is uniquely qualified to build this newest solutions practice for SoftNet through his past experience and technical expertise. Remley has served in senior level positions for world class organizations such as JP Morgan, Morgan Stanley and Ernst & Young. He has successfully started two professional services companies, leading each to sustained growth and profitability. ``The challenge of building the Application Delivery practice here at SoftNet appealed to me as the Company is well-positioned to support the platforms on which applications operate. The ability to address the whole technology environment brings a value added element to client relationships. SoftNet's proven ability to recruit, train and retain skilled industry professionals is a critical factor in establishing our brand in this sector,'' said Remley.
Jim Booth, SoftNet's CEO, stated, ``We are excited at the significant progress made last year in building SoftNet's capabilities in new practices as well as our ability to pursue new markets such as the robust government sector. We have shifted our focus to high value solutions for large enterprise and service organizations while eliminating our reliance on hardware based transactions. SoftNet's certification as a secured facility by the Department of Defense will open up opportunities in the government market vertical in 2008 and beyond. Based on our backlog of booked business and pipeline of new opportunities, we are optimistic that we will more than offset the revenues from the SMB business sold in Q4. We are making solid and steady progress on our march to profitability.''
SoftNet Technology Corp. is a Professional Services company offering professional expertise to enterprise and service provider clients. SoftNet's services are organized in three practice specialties, including Enterprise Infrastructure Services, Application Lifecycle Management and Government Services. The Company maintains strategic relationships with best of breed technology companies such as NetApp, Dell and Microsoft.
Please visit our website at http://www.softnettechnology.com for more information or for Investor Relations, please contact the company directly at 908-212-1799, Jim Booth, CEO or Dennis Goett, CFO.
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.
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