SOURCE: Caneum, Inc.

February 16, 2007 09:35 ET

Caneum, Inc. Announces Opening of Mumbai, India Facility

New Center Will Enhance Caneum India's Web Development and Data Transcription Services

NEWPORT BEACH, CA -- (MARKET WIRE) -- February 16, 2007 -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced the grand opening of Caneum India's new development facility in Mumbai. The Mumbai facility will compliment Caneum India's existing operating facility in New Delhi by providing additional web development and data transcription services.

Mumbai, India represents Caneum's continued decisive entrance into one of the fastest growing outsourcing markets and its expansion into Indian and Asian Pacific markets. By increasing the focus of expansion in the region, Caneum demonstrates that it is committed to delivering the highest quality of outsourcing solutions to its customers.

Suki Mudan, President of Caneum, commented, "The opening of our new facility in Mumbai, India is a significant step forward in Caneum's desire to expand in the region and become a major outsourcing provider to such a rapidly growing market. We are especially excited about this new facility given that the new office in Mumbai is the second facility for Caneum India and the first intra-country expansion of our operations since closing the purchase of Continuum Systems Pvt. Ltd. in December. We continue to be optimistic that the size of our Indian operations could potentially double to over 200 employees by year-end 2007."

About Caneum, Inc.:

Caneum, Inc. is a global provider of business process and information technology outsourcing 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, the Company 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 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 United States Securities and Exchange Commission, such as the rapidly changing nature of technology, evolving industry standards and frequent introductions of new products, services and enhancements by competitors; the competitive nature of the markets for the Company's products and services; the Company's ability to gain market acceptance for its products and services; the Company's ability to fund its operational growth; the Company's ability to attract and retain skilled personnel; the Company's ability to diversify its revenue streams and customer concentrations; and the Company's reliance on third-party suppliers.

Contact Information

  • Contact:
    Caneum, Inc.
    Gary Allhusen
    EVP, COO & Principal Financial Officer
    (949) 273-4000
    Email Contact

    or

    TMS Capital LLC
    Thomas Sauve
    (Investors / Media)
    (646) 245-2465
    Email Contact