SOURCE: Premier Alliance Group, Inc.

Premier Alliance Group, Inc.

September 08, 2010 08:20 ET

Premier Alliance Group, Inc. Purchases Q5Group

CHARLOTTE, NC--(Marketwire - September 8, 2010) - Premier Alliance Group, Inc. (OTCBB: PIMO), a business and technology consulting firm, today announced that it has closed its previously announced merger agreement with Q5Group, Inc. (Q5). Q5 is a privately held consulting company based in, San Diego that specializes in business, finance and accounting. Through this merger, Premier Alliance Group expands its professional services portfolio to meet growing demand for consulting and strategic services.

"With this transaction, Premier has positioned itself with nationwide coverage and established itself as a national presence with a national footprint. Q5 has added to our Governance, Risk and Compliance ("GRC") expertise, and has incorporated a critical finance and accounting services practice which strategically enhances our professional service offerings," said Mark Elliott, Premier Alliance Group's President. "We have worked closely with Q5 and are excited about the opportunity and potential this brings for our associates, customers and shareholders."

"The merger with Q5 is the third strategic acquisition for Premier in the past 12 months. Having rapidly integrated the previous two, we are confident that the integration of Q5 will be smooth and efficient. In the past 12 months Premier has dramatically broadened its expertise and professional consulting offerings to encompass GRC, Project Advisory, Business Performance, Finance and Accounting, Information Technology and Engineering. Through these strategic moves, Premier has now increased its annual revenue run rate from $9 million to $21 million, an increase in excess of 100%."

Premier Alliance Group, Inc. provides business consulting services to customers with a focus on core areas of business processes used throughout the corporate world, including project management, business analysis, and strategic consulting. Typical initiatives in which the Company provides its services include compliance and regulatory, merger and acquisition, and business process reengineering efforts.

Leveraging the expertise of veteran financial professionals, Q5Group, Inc. has established credentials in all areas of financial, accounting, internal audit, compliance, and business consulting. Primarily focused in southern California, Q5 delivers right-sized solutions scaled for specific needs that help businesses plan and execute intelligent growth.

Certain information contained in this press release may be forward-looking. Actual results might differ materially from any forward-looking statements contained in this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of Premier Alliance Group to be materially different from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates" or "plans" to be uncertain and forward-looking.

Contact Information