SOURCE: Caneum

December 14, 2005 09:30 ET

Caneum, Inc. Announces Agreement With DIRECTV for Enterprise IT Services

Caneum Retained by a World-Leading Provider of Digital Multichannel Television Entertainment for Expertise in Enterprise Systems Such as SAP

NEWPORT BEACH, CA -- (MARKET WIRE) -- December 14, 2005 -- Caneum, Inc. (OTC BB: CANM) announced that it has signed a contract with DIRECTV Operations, LLC (DIRECTV) for IT-related services for DIRECTV's enterprise platforms with an initial focus on Enterprise Portal, CRM and Supply Chain Management projects.

"We are very excited about this new relationship," commented Gary Allhusen, Executive Vice President of Caneum, Inc. "It demonstrates again that Caneum is able to meet the needs of large corporate customers while maintaining the speed, nimbleness and customer focus of a small firm. In this case, DIRECTV's rapid growth and complex systems environment requires that Caneum bring deep expertise to the table and foster a rapid response to issues as they arise. Caneum's sharp focus on quickly satisfying customer needs and quality control continues to differentiate us from our peers."

Alan Knitowski, Chairman of Caneum, Inc. stated, "The company continues to win relationships with Fortune 500, blue chip customers and these wins continue to drive our operating performance and growth. Business conditions remain the strongest in the company's history, however, the market value of our shares appears to lag our fundamental performance. We don't believe this divergence will exist for much longer as the caliber of customer wins has helped improve the company's visibility and name recognition throughout the marketplace. Management at Caneum has delivered repeatedly on its projections, with additional benefits being experienced from these major new customer wins and operational efficiencies having improved the company's balance sheet. We remain committed to our execution model; organic growth, acquisitions and opportunities to partner with leading integrators as a means to provide continued strength and expansion for our business portfolio into 2006."

About Caneum Inc.:

Caneum Inc. is a global provider of business process and information technology outsourcing products and services across vertical industries including technology, energy, government, transportation, financial services, education and healthcare. The company provides a suite of business strategy and planning capabilities to assist companies with their "make versus buy" decisions in the areas of data, network, product development, product maintenance and customer support, and fulfills its services in-house, on-shore, near-shore and off-shore depending on the business goals and objectives of its global customers. In parallel, Caneum is opportunistically pursuing accretive acquisitions within its core outsourcing product and service suite in order to broaden its core capabilities, expand its customer base and supplement its organic growth. For more information, please visit the company's Web site at http://www.caneum.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties. The company wishes to caution readers that a number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include but are not limited to the risk factors noted in the company's filings with the Securities & Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products and enhancements by competitors; the competitive nature of the markets for Caneum's services; Caneum's ability to gain market acceptance for its services and products; the company's ability to fund its operations; the company's ability to attract and retain skilled personnel, and the company's reliance on third-party suppliers.

Contact Information

  • Contact:
    Caneum, Inc.
    Gary Allhusen
    949-273-4007
    Email Contact
    or
    The Liquid Group, Inc.
    Jason Daggett (Investors/Media)
    714-264-7975
    Email Contact