Avatech Solutions Announces Acquisition of Technology & Training Systems, Inc.; Agreement Accelerates Growth in the Facilities Management Solutions Market.BALTIMORE -- Avatech Solutions, Inc. (AVSO AVSO Association of Voluntary Service Organisations .OB), the nationwide technology experts for design, engineering, and facilities management, today announced the company has completed the acquisition of Technology & Training Services, Inc. (TTS (1) See text-to-speech. (2) (Transaction Tracking System) Software that monitors a transaction until completion. In the event of a hardware or software failure, it ensures that the database is brought back to its former state before the attempt to ), a 20 year-old facilities management solution company based in Chapel Hill, NC. TTS specializes in designing, implementing, and supporting facilities and asset management systems for organizations in government, healthcare, education, and other commercial markets. The company joins Avatech's rapidly growing Facilities Management (FM) Solutions Group, adding expertise and experience in implementing Computer Aided Facilities Management (CAFM CAFM Computer Aided Facilities Management CAFM Certified Automotive Fleet Manager CAFM Conductive Atomic Force Microscopy CAFM Commercial Air Freight Movement ) systems. Under the agreement, TTS has become part of Avatech Solutions, joining Avatech's Facilities Management Solutions group. "TTS is a perfect fit for Avatech," said Aaron Bukowitz, Avatech's Vice President, Facilities Management Solutions group. "They bring to Avatech a long list of loyal customers as well as strong product, application, and industry experience. Together with Avatech's expertise we expect to dramatically enhance our breadth and depth of offerings to the FM marketplace." TTS has worked with large organizations such as Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. , Duke University, and New Hanover Health Network to implement ARCHIBUS-based FM systems. Their impressive customer list will join Avatech's, which includes Constellation Energy, Auburn University, and NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. Goddard Space Flight Center The Goddard Space Flight Center (GSFC) is a major NASA space research laboratory established on May 1, 1959 as NASA's first space flight center. GSFC employs approximately 10,000 civil servants and contractors, and is located approximately 6.5 miles northeast of Washington, D.C. among many others. "We'll receive the sales, marketing, infrastructure, and support we need so that we can focus on consulting with customers and helping them to leverage technology to more effectively manage their facilities," said TTS principal and owner Keith Newell. "Avatech strives to be the leading provider of facilities management solutions by empowering clients to leverage technology as a competitive advantage and gain a greater return on their assets. TTS furthers our progress in this regard and will accelerate our growth in this strategic business area," said Scott Harris, Avatech President and COO. About Avatech Solutions Avatech Solutions, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVSO.OB) is a nationwide design automation and technology services company providing innovative solutions that enable clients to more effectively design, develop, and manage projects, products, and facilities. Avatech experts give customers a competitive advantage through technology consulting, implementation, integration, training and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services exclusively for the design, engineering, and facilities management industries. Headquartered in Owings Mills, Maryland Owings Mills is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. The population was 20,193 at the 2000 census. Owings Mills is home to the northern terminus for the Baltimore Metro Subway and to Owings Mills Mall. , Avatech is one of the largest integrators of Autodesk software worldwide and a leading provider of PLM (Product Life cycle Management) A comprehensive information system that coordinates all aspects of a product from initial concept to its eventual retirement. Sometimes called the "digital backbone" of a product, it includes the requirements phase, analysis and design solutions. Customers include industry leaders from the Fortune 500 and Engineering News Record's Top 100 companies. Visit www.avatech.com for more information. This press release contains forward-looking statements about the expectations, beliefs, plans, intentions, and strategies of Avatech Solutions, Inc. There are a number of important factors that could cause actual results to differ materially from those anticipated by any forward-looking information. A description of risks and uncertainties attendant to Avatech and its industry, and other factors that could affect the Company's financial results, are included in its Securities and Exchange Commission filings, including, but not limited to, the annual report on Form 10-K for the fiscal year ending June 30, 2005 and other Securities and Exchange Commission filings. Investors and shareholders may obtain a free copy of the documents filed by Avatech Solutions, Inc. with the Commission at the Commission's web site at www.sec.gov. All brand names, product names, or trademarks belong to their respective holders. |
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