Neotel Acquires IT Security Business.MARKHAM, Ontario Markham (2006 Population 261,573[0]) is located in York Region, directly north of Toronto, and is part of Toronto's CMA. It is larger than many Canadian cities. Despite its qualifications regarding population, it has not had the title of city conferred upon it by the -- Neotel International Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:NIT A measurement of luminance. One nit is equal to one candela per square meter (1cd/m2). Ten thousand nits are equal to one stilb. See candela. ) and its President, Mr. Howard Phee announces the completion of the agreement to acquire a one hundred percent (100%) interest in Network Surveillance Inc. previously announced on April 19, 2005. The agreement, which has an effective date of August 1st 2004 has received the necessary regulatory approval. The cost of the acquisition was satisfied by the issuance of 133,333 common shares of the Company at a deemed value of $0.20 per share. Network Surveillance Inc. (NSI See Network Solutions. NSI - Network Solutions, Inc. ) provides a complete line of corporate IT security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the including firewall management, antivirus management, network monitoring The term network monitoring describes the use of a system that constantly monitors a computer network for slow or failing systems and that notifies the network administrator in case of outages via email, pager or other alarms. and technical support to businesses on a contract basis. NSI has a full 7/24 network-monitoring centre with equipment and software to provide remote network management services to customers. The NSI monitoring centre has the estimated capacity to manage up to 500 new clients without adding additional infrastructure assets. NSI also provides consulting services to companies looking to determine the effectiveness of their security systems. NSI is operated by Kevin Kinsella, President. Mr. Kinsella is a security expert who brings with him more than a decade of knowledge in the industry gained from his previous engagements at AT&T and Telus. Under the terms of the Letter of Intent Neotel's President, Howard Phee, will become the Chief Executive Officer of NSI. Mr. Phee stated "NSI is a young company with tremendous potential which is truly in Neotel's sphere of business. The acquisition will enhance Neotel's mandate to provide security and biometrics products and services to both business and government agencies." Mr. Kinsella stated "Neotel is an industry leader and is pushing Canada's security market to the next level with its vision and strategy. This acquisition will benefit both the NSI and Neotel customer bases by combining Neotel's current focus on security to the services and products being delivered today by NSI. It is truly a win win scenario for all our customers." ABOUT NEOTEL Neotel is a provider of enterprise information technology, security, privacy and biometrics identification products and services to organizations, governments and healthcare agencies. Additional information about Neotel is available at www.neotel.ca ABOUT NSI NSI is a provider of secure managed and professional services for organizations that range from the SMB (1) (Small to Medium-sized Business) Also called "SME" (small to medium-sized enterprise), it refers to companies that are larger than the small office/home office (SOHO), but not huge. to Enterprise markets. 8,414,223 shares outstanding The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. Neotel International Inc. (TSX VENTURE:NIT) |
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