SOURCE: Caneum, Inc.

March 21, 2007 09:35 ET

Caneum, Inc. Expands Development Capabilities to Include Ruby on Rails Technology Platform

Establishment of Dedicated Ruby on Rails Application Development Team Enables Company to Expand Its Outsourcing Service Suite for New and Existing Customers Alike

NEWPORT BEACH, CA -- (MARKET WIRE) -- March 21, 2007 -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that it is among the first companies to provide information technology services based on the emerging technology platform developed by Ruby on Rails.

Ruby on Rails (www.rubyonrails.org) is an open source web application development framework that aims to increase the speed and ease of web development. Created by David Heinemeier Hansson in 2004, the platform has experienced a surge in popularity and Computerworld Magazine recently chose it as their top pick for "The Top Five Technologies You Need to Know About in 2007."

The Company formed this development team offshore based out of its Indian subsidiary, Caneum India Pvt. Ltd., with the goal of providing customers worldwide with enhanced outsourcing services specific to the Ruby on Rails application development platform. The Company expects to expand this focused development team as the demand for Ruby on Rails increases and will be using its recent contract win with Vootage, Inc. (www.vootage.com) as the anchor customer for this initiative.

Jesper Lindorff, CEO of Caneum India Pvt. Ltd., remarked, "Our investment in a dedicated development team specializing in Ruby on Rails will allow us to remain at the forefront of developments in new technologies. We are positioning ourselves to stay ahead of the adoption curve and believe that this new technology initiative will provide increased infrastructure value to our current and future customer base worldwide."

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

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