Detto Technologies to Acquire Channel Access; A Profitable New Retail Channel for Current Products and Future Acquisitions.BELLEVUE, Wash. -- Detto Technologies (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DTTO DTTO Drug Treatment and Testing Order (UK criminal system) DTTO Dutch Taekwondo Tournament Organization (also see NTWO) ), maker of award winning data transfer and migration software, IntelliMover(R) and Move2Mac(R), today announced that it has signed a Letter-of-Intent to acquire Channel Access, Inc., a privately-held Utah corporation. Channel Access specializes in marketing and distributing utility and personal productivity software products to retail stores including Best Buy, CompUSA, Office Depot Office Depot (NYSE: ODP) is one of the world's leading suppliers of office products and services. The Company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, , Fry's, Amazon.com and MicroCenter in the United Sates and Canada. Channel Access has recorded $975,000 of revenues with $115,000 of operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. through the third quarter of 2005, which represents revenue growth of 41% over the nine months in 2004. The acquisition is consistent with Detto's previously announced commitment to a strategy of growing revenues while increasing profitability and diversifying its channels of distribution and products. "While we have experienced significant growth to date, we expect the acquisition by Detto to accelerate that growth through the retail channel as we gain access to their current and future products," said Channel Access president, Royce Bybee. "Detto's products have already proven themselves in the tough OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and space." "Not only will owning Channel Access immediately expand Detto's baseline revenues by more than 25% and add significantly to our profitability, but it will also provide direct access to the important retail channel through which we can make our products available," said Larry Mana'o, Founder 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. of Detto. "Furthermore, by taking advantage of a direct retail channel, coupled with Channel Access' own continued organic growth, we expect 2006 to be a breakout year, with continued 50%+ revenue and earnings growth based on this acquisition alone. It also adds, in Royce Bybee, another talented professional to the Detto management team." Prior to founding Channel Access, Royce Bybee was the 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. for AccessData Corp., a computer forensic company, where he was instrumental in tripling sales in a three year period. Bybee was senior vice president of sales and marketing for PowerQuest Corporation and Caldera caldera: see crater. caldera Large, bowl-shaped volcanic depression that forms when the top of a volcanic cone collapses into the space left after magma is ejected during a violent volcanic eruption. The term is Spanish for “caldron. Systems, Inc. From 1989 to 1994, he held senior positions at WordPerfect Corporation Founded in 1979 as Satellite Software International by Alan Ashton, Bruce Bastian and Don Owens. In 1980, W. E. Pete Peterson, Bastian's brother-in-law, joined the Utah-based company as office manager and later became executive vice president. . Bybee has won numerous awards throughout his career including the Million Dollar Award for technology salesmanship. He was an All-American quarterback for Ricks College and played quarterback for both Brigham Young University Brigham Young University, at Provo, Utah; Latter-Day Saints; coeducational; opened as an academy in 1875 and became a university in 1903. It is noted for its law and business schools. and the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Raiders. He holds a bachelor's degree in business management finance from Brigham Young University. About Detto Technologies Detto Technologies, the leading provider of migration technology for consumer and corporations, utilizes its advanced technology to enable the transfer of data, files, preferences and personal settings - the profile or "personality" of a computer user - from an old computer to a new one. IntelliMover(R), Detto Technologies' flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , provides for the intelligent transfer and integration of settings, preferences and files quickly, simply and cost-effectively. Detto markets its products primarily through OEM's like Dell, HP-Compaq, Gateway and Apple, as well as through most major retail outlets through a third-party vendor. Corporate headquarters is in Bellevue, Washington Bellevue is a rapidly growing city in King County, Washington, U.S., across Lake Washington from Seattle. Long known as a suburb or satellite city of Seattle,[1] it is now categorized as an edge city or a boomburb. . More information can be found at www.detto.com About Channel Access Channel Access distributes utility software for WhiteCanyon, WriteExpress and GetData, among other software manufacturers. The Company's products can be found in leading retailers such as Best Buy, CompUSA, Office Depot, Fry's, Amazon.com and MicroCenter. Forward Looking Statements: This press release contains "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. These forward-looking statements may include statements relating to Detto's anticipated financial performance, business prospects, new developments and similar matters, and/or statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These forward-looking statements are based on management's current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Actual results may differ materially from those suggested by the forward-looking statements due to a variety of factors, including changes in business, political, and economic conditions due to the threat of future terrorist activity or otherwise, actions and initiatives by current and potential competitors, and certain other additional factors described in Detto's filings with the Securities and Exchange Commission. Other unknown or unpredictable factors also could have material adverse effects on Detto's future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this press release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this press release. Detto is not under any obligation and does not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. |
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