Caneum, Inc. Wins 5-Year Technology Consulting Services Contract With the Information Technology Division (ITD) of the Los Angeles Unified School District (LAUSD)
Posted on: Tuesday, 24 October 2006, 09:00 CDT
Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that it has won a five-year technology consulting services contract with the Information Technology Division (ITD) of the Los Angeles Unified School District (LAUSD).
The contract signed allows Caneum to provide Basis Administrators, Programmer Analysts, Security Administrators, Senior Programmer Analysts, Systems and Programming Managers, Trainers, Xi Programmers and Portal Developers throughout the duration of the five-year contract period.
Under the terms of the service agreement signed, Caneum will provide an information technology bench of resources to the district's Information Technology Division (ITD) for operational projects, programs and initiatives tied to ongoing and future technology service needs. Financial terms of the agreement are not yet being disclosed, but revenues tied to the contract are expected to commence in the first quarter of 2007.
"We are very proud to have expanded our strategic relationship with LAUSD in general and ITD specifically," commented Robert Morris, Senior Vice President of Caneum. "This 5-year contract win will provide another core anchor customer for our business over the coming years and supplements the 10-year pre-award notice recently received from the United States General Services Administration tied to the Veterans Technology Services Government Wide Acquisition Contract. We believe that these two public sector wins will provide a strong platform for future growth and will benefit shareholders in both the mid and long term as they scale accordingly."
About Caneum, Inc.:
Caneum, Inc. is a global provider of business process and information technology outsourcing services across vertical industries, including technology, energy, government, transportation, financial services, education and healthcare. The Company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore, depending on the business goals and objectives of its global customers. In parallel, the Company is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the Company's web site at http://www.caneum.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The Company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include, but are not limited to, the risk factors noted in the Company's filings with the United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.
Contact: Caneum, Inc. Gary Allhusen (949) 273-4007 Contact via http://www.marketwire.com/mw/emailprcntct?id=EE829A40D41E7BD3 The Liquid Group Jason Daggett Investors / Media (714) 264-7975 Contact via http://www.marketwire.com/mw/emailprcntct?id=FA8D6C75F71872A8
SOURCE: Caneum, Inc.
Source: MARKET WIRE
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