SOURCE: Caneum, Inc.

October 26, 2006 07:30 ET

Caneum, Inc. Formally Launches Line of Business Targeting Investor Relations (IR) Business Process Outsourcing (BPO)

Information Technology and Business Process Outsourcing Company Also Announces 4 New IR BPO Customer Contracts

NEWPORT BEACH, CA -- (MARKET WIRE) -- October 26, 2006 -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced the formal launch of a new line of business focused on the Investor Relations (IR) Business Process Outsourcing (BPO) market. This line of business was originally incubated subsequent to the closing of the asset purchase of Jalva Media's Indian transcription operations in July 2005, and was successfully soft launched earlier this year.

The Company further announced today that it renewed or expanded annual transcription service contracts with Factset and Morningside Partners and also added new annual transcription service contracts with Wall Street Transcripts and Seeking Alpha. Agreement details and summary terms are not immediately available for release. However, material highlights will be included as appropriate in the 3rd QTR 2006 10-QSB when filed in mid-November.

Caneum 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, and is rapidly becoming an outsourcing conduit of choice for both public and private companies of all sizes, including several in the Fortune 1000 such as Panasonic, DirecTV, McGraw-Hill and Countrywide Financial, amongst others.

This expanding roster of customers has largely been achieved due to the Company's unique, hybrid outsourcing model that it deploys agnostically for its global customers. As a result of today's announcement, the Company's service offering has been expanded to include a number of unique IR BPO services to its target market and customer set, including live transcription of public company earnings calls and editorial support for audio files of all sizes and types that are commonly used for public company investor communications.

"We believe that this new initiative, combined with the 4 contract wins and renewals announced, further reinforces and validates our operational strategy to aggressively pursue high value, high margin BPO opportunities," stated Suki Mudan, President of Caneum. "We believe that the IR BPO market will yield the Company highly profitable, recurrent revenue streams and will further diversify both our core customer base and the underlying blend of outsourcing services that we complete in-house and on-shore versus those that we complete near-shore and off-shore. Over the next several years, we expect that the IR BPO line of business will grow into a multi-million dollar line of recurrent business for the Company and will establish an additional platform for future services and revenue streams."

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 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 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
    (949) 273-4007
    Email Contact

    The Liquid Group
    Jason Daggett (Investors / Media)
    (714) 264-7975
    Email Contact