SOURCE: Amazing Technologies Corp.

August 04, 2006 09:41 ET

Amazing Technologies Corp. Almost Doubles Revenue to $54 Million With a Letter of Intent to Acquire the Largest Reseller of Oracle's JD Edwards Software in the USA

NEWPORT BEACH, CA -- (MARKET WIRE) -- August 4, 2006 --Amazing Technologies Corp. (PINKSHEETS: AZTN) a fast growing US public company that acquires, supplies and integrates real-time software solutions for the SMB market, and Certified Partner in the Oracle PartnerNetwork, announced today that it has signed a Letter of Intent to acquire the largest reseller of Oracle's JD Edwards software in the USA.

J. Bradley Hall, CEO of Amazing Technologies, said, "This is the largest transaction we have entered into since we went operationally live 15 months ago and along with our previously announced acquisition of Axion Solutions, the recent Oracle 'Partner of the Quarter' in California, it will solidify Amazing's position as the dominant SMB supplier and integrator of JD Edwards solutions in most major markets in the USA."

Rauline Ochs, Group Vice President of North American Alliances and Channels at Oracle, commented, "The accelerated growth Amazing is enjoying and their goal of creating a single touch point is an exciting development for prospects and customers of Oracle in North America. We are committed to continue to work closely with Amazing as they rapidly expand throughout our North American region."

Simon Arkell, President of Amazing Technologies, added, "This agreement highlights our commitment to establishing our company as a single touch point for prospects and customers who require an established international market presence, as well as Oracle who is our key partner globally. We at Amazing continue to execute our proven business model and now that we have consolidated a leading presence in the USA, we are quite bullish on the prospect of a number of similar announcements from across Europe in the near term."

Mr. Hall noted, "This agreement adds another extremely well run, profitable company into the Amazing fold. Smaller, regional resellers will increasingly be marginalized as companies like Amazing consolidate the channel and create a single touch point for prospects, customers and of course Oracle as well. Our impressive growth is slated to continue and as we accelerate towards our goal of completing an IPO on AIM in London this fall."

About the Oracle® PartnerNetwork

Oracle PartnerNetwork is a global business network of 17,700 companies who deliver innovative software solutions based on Oracle software. Through access to Oracle's premier products, education, technical services, marketing and sales support, the Oracle PartnerNetwork program provides partners with the resources they need to be successful in today's global economy. Oracle partners are able to offer to their customers, leading-edge solutions backed by Oracle's position as the world's largest enterprise software company. Partners who are able to demonstrate superior product knowledge, technical expertise and a commitment to doing business with Oracle can qualify for the Oracle Certified Partner levels.

About the USA Based reseller of Oracle's JD Edwards software:

Founded in 1992, the company is a nationwide software and consulting firm headquartered in the Atlanta, Georgia metropolitan area. The company has established itself as a leading provider of ERP and BI software consulting services for mid-market Manufacturers and Distributors. Service offerings include software implementation, upgrades, migrations and business process consulting solutions in the areas of inventory, accounting, finance, distribution, and manufacturing. The company's 150 employees specialize in linking business strategy and business processes with IT capabilities to drive financial improvement.

About Amazing Technologies Corp.:

Founded in 2004 and based in Newport Beach, CA, Amazing Technologies Corp. is the largest and fastest growing Oracle/JDE SMB focused partner in the world. Upon closing, the company will have profitable revenue of over $54 million USD and close to 600 employees at multiple locations in 8 countries including; Australia, New Zealand, Venezuela, Columbia, Mexico, USA, Peru and Chile.

Amazing is also an aggressive 'second buyer' of venture backed vertical silo software publishers and successful regional, niche software companies that can be positioned as complementary plug and play add-ons to existing JD Edwards ERP solutions. The company is focused on fully developed, customer validated products that have not reached any critical mass of customer traction.

"Amazing" is a trademark of Amazing Technologies Corp. and may be registered in certain jurisdictions. This release contains "forward-looking statements." Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes" or statements indicating certain actions "may," "could" or "might" occur.

Trademarks

Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates.

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