Language Access Network Announces Acquisition of iBeam Solutions, a Microsoft Gold Certified Partner.COLUMBUS, Ohio -- Language Access Network Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :LANW), the leader in video interpretation services, today announced it has reached an agreement to acquire privately held iBeam Solutions. iBeam Solutions, founded in 2000 and based in Canal Winchester, Ohio Canal Winchester is a village in Fairfield and Franklin counties in the U.S. state of Ohio. The population was 4,478 at the 2000 census, and was estimated to be at 5,819 as of July 2006. The current mayor is Jeffrey Miller. , is a comprehensive provider of technology solutions to businesses. A few of iBeam's 450 clients include: Cardinal Health (CAH CAH congenital adrenal hyperplasia. CAH Congenital adrenal hyperplasia, see there ); Pinnacle Data Systems, Inc. (PNS Peripheral nervous system (PNS) One of the two major divisions of the nervous system. PNS nerves link the central nervous system with sensory organs, muscles, blood vessels, and glands. ); The Daimler Group; The Ohio State University Ohio State University, main campus at Columbus; land-grant and state supported; coeducational; chartered 1870, opened 1873 as Ohio Agricultural and Mechanical College, renamed 1878. There are also campuses at Lima, Mansfield, Marion, and Newark. ; Bricker & Eckler; Zeiger, Tigges & Little; Sowald, Sowald, & Clouse; and Central Ohio Pediatric Endocrinology and Diabetes Clinic; and Winchester Medical and Health Center. iBeam Solutions is the ninth fastest growing IT firm in Ohio with gross revenues exceeding $1.6 million in 2006; the number one IT company accruing $34 million in gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. according to Columbus Business First. iBeam's revenues are projected to increase to over $3 million in 2007, after having their best and most profitable year in 2006. Language Access Network will purchase iBeam Solutions for restricted common stock and debt in the company. The acquisition will be accretive to 2007 earnings. "We see the opportunity for double digit revenue growth from iBeam Solutions well into the next decade," said Michael Guirlinger, CEO/COO of Language Access Network. "The acquisition of iBeam Solutions will give Language Access Network access to one of the best technology teams in the U.S. As a company that is dependent on technology to deliver our service, the acquisition will give us the IT backbone necessary to become the number one source for video interpretation services." "iBeam Solutions has a reputation for eliminating finger pointing and multiple vendor issues by providing most all technical services businesses may need under one roof. In conjunction with Language Access Network, iBeam Solutions will have the ability to expand our national service offering and serve a broader range of public and private clients, while continuing to serve one of the most exciting companies in the U.S., the Language Access Network," stated Eric Schmidt, 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 iBeam Solutions. iBeam Solutions, a Microsoft Gold Certified Partner, was founded in 2000 and is one of Central Ohio's fastest growing technology consulting firms. iBeam Solutions has been a Top CAT nominee in multiple categories the last 6 years running, Business of the Year from the Canal Winchester Chamber of Commerce, and has received press regarding their talents in many publications including Business First and The Daily Reporter, and has appeared on national TV on Fox Cable News as the subject of a Summerall Success Story with Pat Summerall. Their CEO, Eric Schmidt, was a finalist for the 2003 and 2004 Ernst & Young Entrepreneur of the Year Award. iBeam provides design and implementation of networks, security and Internet monitoring, technical support, web development, graphic design, application development, database development and support, phone and data wiring, wireless solutions, phone system installation and support, web site hosting, server and PC sales and service, sales and support for all brands and types of hardware and software, web cams, forensic technology services, help desk services, monitoring and much more. iBeam is also Novell certified and works with all the major vendors in the industry. For more information please visit their web site at www.ibeamsolutions.com. Language Access Network Inc. (OTC:LANW), based in Nevada, is the pioneer and leader in video language interpretation services with operations in Columbus, Ohio. A publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. , Language Access Network provides pharmacies and medical facilities with professionally trained interpreters 24 hours a day, seven days a week through our centralized video language center, interpreting more than 150 different languages including American Sign Language American Sign Language n. The primary sign language used by deaf and hearing-impaired people in the United States and Canada. American Sign Language (ASL), n. (ASL ASL - Algebraic Specification Language ) via real-time, interactive video technology. More information is available at www.languageaccessnetwork.com Cardinal Health Systems www.cardinal.com Pinnacle Data Systems, Inc. www.pinnacle.com The Daimler Group www.daimlergroup.com The Ohio State University www.osu.edu Bricker & Eckler www.bricker.com Zeiger, Tigges & Little LLP LLP - Lower Layer Protocol www.litohio.com Sowald, Sowald, & Clouse www.sowaldclouse.com Central Ohio Pediatric Endocrinology and Diabetes Clinic www.copeds.com/Disclaimer.asp Stay up to date with MN1 NewsWire "NEWS YOU CAN TRUST" at www.MN1.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 release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions 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. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. or 10-KSB and other filings made by such company with the Securities and Exchange Commission. |
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