CTI Group Announces the Sale of Xila Communications, LLC.INDIANAPOLIS -- CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. Group (Holdings) Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CTIG CTIG Counter Terrorism Intelligence Group CTIG Combat Targeting and Intelligence Group (Langley, AFB,VA Air Combat Command) ) announced it completed the sale of the business of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Xila Communications, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Xila"), to eGIX Network Services, Inc. ("eGIX"), after Xila received approval from the Indiana Utility Regulatory Commission to transfer the business. Xila operated as a competitive provider of bundled local and long distance telecommunications solutions to enterprise customers in Indiana. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Brad Houlberg, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , "The agreement to sell Xila makes available additional resources which can be better focused on the core competencies of the Company, which include real-time telemanagement, electronic invoice processing, expense management, and service solutions." CTI Group (Holdings) Inc. is an international provider of next-generation invoice processing and, telemanagement solutions for telecommunications service providers and their enterprise customers. CTI Group's SmartBill(R)Connect, and Proteus(TM) product suites offer a full array of solutions for telecommunications usage analysis, management, and electronic invoice receipt, processing and payment. CTI Group's products are in daily use by some of the top service providers in North America and the United Kingdom, and play a key role in managing telecommunication costs at major enterprises around the world. Headquartered in Indianapolis, CTI Group maintains an overseas office in London. For more information, please visit CTI Group's website at www.ctigroup.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains "forward-looking" statements. Forward-looking statements include, but are not limited to statements of assumptions underlying other statements and statements about the Company and its business relating to the future; and any statements using the words "could", "should", "anticipate", "expect", "may", "project", "intend" "will" or similar expressions. The Company's ability to predict projected results or the effect of events on the Company's operating results is inherently uncertain. Forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those discussed in this document. In addition to information provided elsewhere in this document, shareholders should consider the following: the risk that the Company will not be able to attract and retain customers to purchase its products, the risk that the Company will not be able to commercialize and market products; results of research and development; technological advances by third parties; competition; future capital needs of the Company; history of operating losses; dependence upon key personnel and general economic and business conditions. Readers are referred to documents filed by CTI Group with the U.S. Securities and Exchange Commission. |
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