SOURCE: Hathaway Corporation

July 19, 2005 10:00 ET

Hathaway Corporation Names Former Lucent Executive as New President

Mr. John Batton to Focus on Immediate Growth in the RBOC Marketplace

ST. PETERSBURG, FL -- (MARKET WIRE) -- July 19, 2005 -- Hathaway Corporation (OTC: HWYI), a leading global provider of communications and OSS software, today announced the change in management of Hathaway Corporation. Mr. John Marshal Batton, from OptiCon Systems Inc. and a former Lucent executive, has agreed to come on board as President of Hathaway upon completion of the purchase of OptiCon, Inc.

As Managing Vice President at Lucent Technologies, NetCare Division, Mr. Batton grew his business unit from $4 million per year in '96 to over $450 million per year in '01. Mr. Batton was chartered at Metasolv Software, an OSS software vendor, to create sales and support organizations that could expand their presence in the RBOC marketplace and create a strategy to penetrate the enterprise marketplace. His personally selected and trained team grew the RBOC business (SBC, Quest, Bell South, Bell Canada, Verizon and Genuity) from $500,000 per year to $18.5 million in the first twelve months.

"The ability for Hathaway to secure Mr. Batton was an integral part of our negotiations in the purchase of OptiCon. We are very pleased Mr. Batton has decided to join Hathaway and lead our company in the RBOC marketplace," states Sam Talari, Chairman of Hathaway. Mr. Talari goes on to say, "Mr. Batton's vast experience in building strong sales teams that deliver incredible results will insure the integration of OptiCon into Hathaway's business model is seamless and the revenue goals we set forth will be realized in the very near future."

About OptiCon Systems Inc

OptiCon Systems provides Fiber Optic Network Management systems that currently run on over 70% of the major telecoms and cable companies here in the United States. Current clients include Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and BrightHouse. OptiCon was developed, patented and licensed by a major Fortune 100 company.

Market Opportunity

The OSS software marketplace reached $11.1 billion worldwide in 2003 and is expected to grow to $16.2 billion worldwide by 2007. North America enjoys 60% of the marketplace at $6.6 billion. With its current position as the market leader, OptiCon will have an opportunity to capture most of the forecasted market size.

Forward-Looking Statements

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

Contact Information

  • Contact:
    Hathaway Corporation, St. Petersburg, Florida
    Sam Talari
    Email Contact