SOURCE: Caneum, Inc.

December 28, 2006 11:28 ET

Caneum, Inc. Wins New Customer Contracts Including U.S. Trust and Panasonic Avionics

Company Adds $1.9M in New Customer Wins and Existing Customer Expansions in the Last 60 Days and Expects ~$2.5M in Revenues in 1 QTR 2007

NEWPORT BEACH, CA -- (MARKET WIRE) -- December 28, 2006 -- Caneum, Inc. (OTCBB: CANM), a global provider of business process and information technology outsourcing services, today announced that it has closed $1.9M of new business in the last 60 days.

This new business includes new customer additions with U.S. Trust, Hawkeye Cohesion, Clopay, Panasonic Avionics, Escalate Retail, BitCentral, ClickStar, Seal Consulting, DDEi, and Clubspaces, and existing customer contract expansions with DIRECTV, Keane, McGraw Hill, Tatum Partners, Paciolan, D4 Solutions and Isensix.

Gary Allhusen, COO of Caneum, commented, "The fourth quarter of the year has been extremely active for our team in winning new customer business for execution in the first half of 2007. Based on the contracts executed in the last 60 days, we expect to see first quarter organic revenues of approximately $2.5M, excluding the incremental effects expected from closing the US General Services Administration government contract announced yesterday."

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

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) 273-4007
    Email Contact


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