SOURCE: Amazing Technologies Corp.

May 23, 2006 09:00 ET

Amazing Technologies Corp. Adds Another $16 Million in Profitable Revenue With a Definitive Agreement to Acquire BFGP Ingenieros Group C.A. in Venezuela

NEWPORT BEACH, CA -- (MARKET WIRE) -- May 23, 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, announced today that it has signed a Definitive agreement to acquire BFGP Ingenieros Group C.A., one of the leading Latin American Oracle, JD Edwards resellers based in Caracas, Venezuela.

J. Bradley Hall, CEO of Amazing Technologies, said, "The proven team of over 200 motivated employees at BFGP offer expertise and a knowledge base that complements and validates our dynamic business model. This acquisition will add over $16mm of profitable revenue to Amazing and represents the first in a series of deals that will establish our presence in the hot Latin American market where we are aggressively negotiating with a number of promising companies."

Luiz Meisler, President of Oracle, Latin America, commented, "Oracle has recently announced a renewed commitment to the JDE platform and in fact, our goal is to make it available through partner companies like Amazing as the preferred solution for small and medium sized businesses of up to $200mm in revenue. We view our relationship with Amazing as strategic and will continue to work closely with them as they rapidly expand throughout Latin America."

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. Along with operations in Venezuela, Colombia and Mexico we also inherit a very strong partnership with IBM. In fact, IBM continues to provide the company with data centers that support our ERP on-demand service that we intend to roll out globally."

Mr. Hall noted, "This agreement adds an extremely well run, profitable company into the Amazing fold and we will soon be able to offer JD Edwards and our complementary solutions at the flip of a switch, anywhere on the planet. This business model has the potential to scale fairly dramatically, and our goal is to roll this service out into our ever expanding international grid where we own a reseller presence."

About Amazing Technologies:

Founded in 2004, Amazing Technologies Corp. is 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 also an acquirer of established resellers in the global JD Edwards reseller and integrator channel.

About BFGP Ingenieros Group C.A.:

Venezuelan Business magazine recently ranked BFGP #3 in net profit growth in its recent survey of top companies. With over twenty-seven years in business and hundreds of customers and employees, the Caracas-based company provides complete solutions to solving business problems. The company provides value that encompasses all areas of the supply chain, from customer acquisition through product delivery. In addition, its strong industry and technical experts offer rapid, cost-effective implementations of applications software, integration and Internet services, as well as a hosted software on-demand platform for JD Edwards ERP.

"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.

Contact Information

  • For further information please contact:
    J. Bradley Hall
    Chief Executive Officer
    Amazing Technologies Corp.
    949 706 7845 x11
    Email Contact