Ben Cowart Named Managing Director of Verso&#x 1;s Asian Operations; Verso Vice President to Lead BeTrue Joint Venture.Business Editors ATLANTA--(BUSINESS WIRE)--Oct. 24, 2002 Verso ver·so n. pl. ver·sos 1. A left-hand page of a book or the reverse side of a leaf, as opposed to the recto. 2. The back of a coin or medal. Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : VRSO), an integrated communications solutions company that is adapting the cost savings of IP networks to the unique requirements of voice, announced today that it has appointed Ben Cowart, Verso's vice president of strategic initiatives, to serve as vice president and managing director of the company's Asian operations. Mr. Cowart will have primary responsibility for developing and executing Verso's business strategy throughout the Asia-Pacific region, and will lead the region's sales operations, including distribution partnerships, to achieve maximum growth and market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . In addition, Mr. Cowart will oversee Verso's Chinese joint venture, Shanghai BeTrue Infotech Co., Ltd. (BeTrue). (Please see related press release dated October 2, 2002.) In his new role, Mr. Cowart will be based in Shanghai, China but will continue to serve as a corporate vice president for Verso, reporting to James Logsdon, Verso's president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Steve Odom Steve Odom (born September 5, 1952 in Oakland, California) is a former American football wide receiver and kick returner in the NFL who played for the Green Bay Packers (1974-1979) and New York Giants (1979). He went to the Pro Bowl after the 1975 season. , chairman and chief executive officer of Verso commented, ecause communication providers in the Asia-Pacific region are just beginning to build out new networks, and are therefore not saddled with existing legacy infrastructures, that market remains one of the bright spots for telecommunications products and services such as VoIP (Voice over Internet Protocol). In fact, it is estimated that the Asian-Pacific VoIP equipment market is expected to reach $3 billion by 2005. Verso's ownership in BeTrue gives the company immediate access to this important market. With Ben leading the company's efforts to further develop its Asian-Pacific channels, we plan to make the most of this opportunity. Ben Cowart added, I am pleased to have the opportunity to work with Mr. Guo Hao hao n. pl. hao See Table at currency. [Vietnamese hào.] Noun 1. Gen and his colleagues at BeTrue. BeTrue already has strong relationships with Chinese partners and an impressive management team. By working together, we are well positioned to aggressively pursue opportunities for Verso's products in the Asia-Pacific region and to bring BeTrue's products to our world markets. Mr. Cowart holds over 19 years experience in technology and senior management positions, including his former role as general manager of PolyVision Corporation, where he was responsible for the company's U.S. and Paris-based operations. Mr. Cowart also spent nearly two years in Central and South America building a local presence for sales and technical support operations and developing sales channels for World Access Telecommunications Product and Network Design Services. Mr. Cowart joined Verso in November of 2000 as vice president of strategic initiatives. He holds an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Rensselaer Polytechnic Institute Rensselaer Polytechnic Institute, at Troy, N.Y.; coeducational; founded and opened 1824 as Rensselaer School; chartered 1826. It was called Rensselaer Institute from 1837 to 1861. and a B.S. in electrical engineering. About Verso Technologies Verso Technologies provides integrated switching and solutions for communications service providers who want to develop IP-based services with PSTN (Public Switched Telephone Network) The worldwide voice telephone network. Once only an analog system, the heart of most telephone networks today is all digital. In the U.S. scalability and quality of service. Verso's unique, end-to-end native SS7 capability enables customers to leverage their existing PSTN investments by ensuring carrier-to-carrier interoperability and rich billing features. Verso's complete VoIP migration solutions include state of the art hardware and software, OSS Oss (ôs), city (1994 pop. 62,141), North Brabant prov., S Netherlands; chartered 1399. It is a significant industrial center. Manufactures include meat products, chemicals, pharmaceuticals, electrical equipment, and metalware. integration, the industry's most widely used applications and technical training and support. For more information about Verso Technologies, contact the company at www.verso.com or by calling 678.589.3500. Forward Looking Statement Certain statements contained in this release that are not statements of historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The words - "believe", "expect", "anticipate", "intend", "will", and similar expressions are examples of words that identify forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future financial position, timing of future orders, business strategy and expected cost savings. These forward-looking statements are based on our current beliefs, as well as assumptions we have made based upon information currently available to us. |
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