SOURCE: National Energy Services

September 09, 2010 08:30 ET

National Energy Services Company, Inc. Acquires Propalms International Ltd

AUSTIN, TX--(Marketwire - September 9, 2010) - National Energy Services Co. (OTCBB: NEGS) is pleased to announce today the acquisition of Propalms International Ltd.

Propalms International Ltd has signed a worldwide marketing and sales agreement between Propalms Inc's wholly owned subsidiary, Propalms Ltd, a UK corporation and the newly formed Propalms International Ltd, a Nevada corporation.

Propalms International will be responsible for overseeing the daily marketing, sales, and distribution network of Propalms software product line, which includes Propalms TSE 6.0, Propalms VPN, and Propalms VDI, and any new applications that are being developed, and in return will pay a royalty on the revenue generated by the current and future products agreement for the sales of several software products in the virtualization and cloud computing market. Propalms International will also manage the 48 distributors in the U.S., U.K., Japan and India, Canada, Western Europe plus several other international locations.

This purchase is one of several acquisitions and/or ventures expected to be completed during the remainder of this calendar year to make us a leader in the vibrant and rapidly expanding Cloud Computing Market. Virtualization and cloud computing has been described as a potentially a $63 billion dollar market globally with approximately 3% currently deployed. Major IT companies have recently purchased other companies in this space with prices ranging from $50 million to $4 billion dollars proving the viability and exploding growth capabilities of companies properly positioned to take advantage of the market. We intend to be a company positioned by reaching critical mass through acquisitions and internal product rights development agreements over the next 18 months.

Revenues from sales will begin immediately with additional revenues from maintenance and support dollars from prior sales by the licensor inuring to us. Our costs will be managed by implementing an employee leasing program for an already trained product sales staff.

About National Energy Services Company:

National Energy Services Company, Inc. (OTCBB: NEGS) and its subsidiaries are publicly traded companies located in the USA.

Our current subsidiary in the Green IT Division sell, service and train clients' personnel on necessary software to integrate, manage and maintain medium sized IT departments migration to, plus implementation and maintenance of deployed virtualization, storage and utilization of cloud computing technology.

Forward-Looking Statement: This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.

National Energy Services Company, Inc.

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