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visionGATEWAY Announces Global Expansion With New Management Team and Office in United Kingdom to Drive European Growth
Thursday May 24, 3:50 pm ET
Former Cisco and Nortel Networks Executive to Spearhead Company's Marketing of Recently Licensed Encryption and Protection Technology
SAN DIEGO, CA--(MARKET WIRE)--May 24, 2007 -- visionGATEWAY, Inc. (OTC BB:VGWA.OB - News), an Internet Resource Management and Security software solutions company capitalizing on the explosive growth of Internet use worldwide, has announced that the Company has acquired U.K.-based Lagmore Consulting Limited. The opening of a European office led by a world-class management team is consistent with the Company's long-term strategy to develop a global sales and marketing network.
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Lagmore will be renamed visionGATEWAY Limited and become the Company's London-based European representation. Lagmore's current owners and executive management team will immediately become executives of visionGATEWAY to continue the growth of the Company's sales opportunities with INTERScepter in the UK and Europe. They were the core management and development team from Saturn IQ that will now manage and grow the opportunities that license agreement provides, as well as become visionGATEWAY's London-based European management team.
visionGATEWAY announced last year the intent to acquire Saturn IQ, a manufacturer of advanced encryption and protection technology. After detailed discussions and due diligence, the two companies have agreed that both companies will benefit best with Saturn IQ providing visionGATEWAY with an exclusive long-term license over all aspects of the intellectual property of its specialist technology.
The recent agreement brings to visionGATEWAY not only Saturn IQ's innovative protection technology and products, but also access to a portfolio of revenue generating clients. It is predicted that the immediate sales opportunities can be converted to revenue of an estimated $1 million over the next nine months.
"This acquisition and licensing agreement provides us with a truly unique offering to the market, but particularly the IT, telecoms, legal and publishing sectors," said Michael Emerson, Chief Executive Officer of visionGATEWAY. "We are delighted to be able to incorporate Saturn IQ's cutting-edge information security technology to our own state-of-the-art, next-generation offering, and are confident of capitalizing on the company's significant, established client base. We also now have a great executive team in the UK to drive our European growth."
A key member of the new executive team is Ken Edmonds. Mr. Edmonds, previously the Chief Executive Officer of Saturn IQ, has been appointed Chief Operating Officer of visionGATEWAY with a key responsibility for sales growth in the UK and Europe. Mr. Edmonds is a former M.D. and Director at Cisco, Nortel Networks and ORA Electronics, with experience at developing global business. He brings experience and skills from both large blue chip corporations as well as experience with emerging companies.
"Digital property security is a hot topic at the moment with authorities filing more and more legal charges against copyright pirates, peer to peer networks and users," said Mr. Edmonds. "Unwarranted, unauthorized and swiftly growing snooping activities are alarming email customers and collaborative workers. visionGATEWAY now has an opportunity to be suppliers of a critical element in the protection of both privacy and copyright on the Internet."
A unique combination of Internet Resource Management, secure delivery of media, messages and VoIP, and cutting-edge protection technologies, has been made readily available, with visionGATEWAY's completion of the exclusive long term licensing and royalty agreement with Saturn IQ.
