Diverse Networks, Inc. Announces Reorganization
Thursday July 13, 9:00 am ET
HOUSTON, July 13 /PRNewswire-FirstCall/ -- Diverse Networks, Inc., a wholly owned subsidiary of The Jackson Rivers Company, Inc. (OTC Bulletin Board: JKRI - News), announced today a reorganization of its operational structure in order to integrate the recent acquisition of UTSI International into a common functional organization and better position the company for potential acquisitions.
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In addition to creating a unified Sales and Marketing effort and establishing a company wide Administration Division, the new organization creates a Data Solutions Division that will be lead by Daniel Nagala, previous President of UTSI International. The Data Solutions Division will handle all current and future consulting and professional services contracts that the company is awarded. Significant current clients in this category include Shell Pipeline Company LP, Chevron, BP, New York City Transit Authority, and Kinder Morgan Energy Partners, among many others. This reorganization also establishes the Data Services Division that is under the management of George Wren. The Data Services groups will complete the implementation and launch of an automated data collection/data delivery system for use in the emerging M2M market. That system will initially be applied to a wide range of applications involving oil and gas production and pipeline, electric energy, water/waste water handling, and physical security industries.
In conjunction with announcing this reorganization, Jim Nelson, President and Chief Operating Officer of Diverse Networks, Inc. stated, "We are building a world class company to provide a wide range of services within the M2M market and I feel this new organization will allow such integration to proceed in orderly manner. Daniel Nagala and George Wren are both proven executives that bring a high level of experience and ability to the company and I am completely confident that they will continue to apply those attributes to building our new company. In addition, we hope to continue our company's growth through acquisition and believe this reorganization better positions JKRI to seek and evaluate potential opportunities."
More information on the company can be found at www.jacksonrivers.com and at www.diversenet.com .
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of JKRI and Diverse officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future JKRI and Diverse actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and JKRI has no specific intention to update these statements.
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Source: The Jackson Rivers Company, Inc.
