RED BANK, N.J., July 7, 2011 /PRNewswire/ -- TGI Group (PinkSheets:TSPG.pk - News), a diversified holding company, announced today a 25% interest in ManageVision Inc. (http://www.managevision.com/), a technically innovative software company that provides a diversified product line of cloud computing applications and services to businesses of all sizes, helping them realize operational and financial control with simple-to-use tools that are extremely cost effective.
CloudVision, a new division of ManageVision, addresses the growing costs, complexity and lack of security found in many small businesses operating on a traditional desktop / server-computing model. Using the latest virtualization technology, CloudVision will provide businesses across the world with solutions that address the most common challenges at a fraction of the cost. The CloudVision strategy creates an operating environment that does not compromise functionality, reliability, expandability or speed; it reduces operating expense and permits access to mission critical data from anywhere in the world with a high-speed Internet connection.
"We are at the advent of a new computing model that will revolutionize the technology industry. The traditional computing model, such as desktop PCs and small business servers, will give way to solutions that provide ubiquitous, on-demand access from a variety of devices, including smart phones and tablets., Large corporations are already embracing the cloud model and realizing the substantial financial, operational, and management benefits. CloudVision is well positioned to bring these significant benefits to small-and-medium sized companies as well as individual users," states Michael J. Bettigole, CEO of ManageVision.
According to Forrester Research, the US Tech Industry outlook for 2011 is likely to replay 2010's 8% overall domestic growth rate. A report written by Andrew Bartels, with Christopher Mines and Sarah Musto states that following 2010, during which the US tech sector grew about as twice as fast as the US economy, the 2011 outlook is for more of the same. Unfortunately, with the end of economic stimulus programs, the politically divided US government is unlikely to provide another boost to the economy; US GDP will be hard-pressed to grow faster than 3% or so in real terms (4% or so in current dollars) in 2011. Nonetheless, the US tech industry will still grow about twice as fast as nominal GDP in 2011, at 7.4%, as investments in Cloud and Smart Computing solutions provide the IT tools for companies to grow profits despite weak revenue increases. (The government market for IT will lag, though, as federal, state, and local governments struggle with high deficits.) The computer restocking and replacement boom that propelled the tech market in 2010 will slow to 5.9% growth in 2011, but software and IT consulting services will pick up the slack, with growth of 8.4% and 8.2%, respectively.
ManageVision's cloud-based software suite permits never-before-realized transparency and control to senior executives who are charged with forging the company strategy and delivering strategic solutions. The Gnosis Business Suite strengthens accountability surrounding finance, compliance and delivery to ensure cost is controlled, and budgets across the entire organization are tracked with simplicity. With a common, functional dashboard that everyone can work from, teams interact, communicate and deliver more effectively with less overhead and wasted effort no matter where they are in the world.
This purchase comes in light of recent developments, when TGI entered into an agreement with Worldlink Group plc(WLO1), which has patent protected technology platform for the transfer of real time financial and other data to mobile devices and also recently acquired trading platform and creation Edgetech Systems inc.
About TGI Solar
TGI SOLAR POWER GROUP INC. (www.tgisolar.com) is a diversified holding company. The Company offers its products and services to clients on a worldwide basis and currently maintains JVs and strategic alliances with installation, integration and energy consulting firms. TGI's strategy is to acquire new patented technologies, components, processes, designs and methods with commercial value that will give market advantage and generate shareholder value.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.
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