SOURCE: Viyya Technologies

September 07, 2005 07:00 ET

Viyya Technologies to Acquire iConcepts, Inc.

Acquisition Projected to Add More Than $2 Million to Viyya Revenue for 2005

WEST CALDWELL, NJ and LANSDALE, PA -- (MARKET WIRE) -- September 7, 2005 -- Viyya Technologies, Inc. (OTC: VYON), a technology company that has developed and is currently marketing one of the world's most advanced, web-based information management applications, announced today that it has signed a transaction agreement to acquire iConcepts, Inc., a developer of technology solutions that turn data into information.

Headquartered in Lansdale, PA, iConcepts has served as the development arm of Viyya Technologies and currently serves Fortune 1000 companies in the telecommunications, financial services and wine and spirits industries. The company's strong software development capabilities allow it to provide cost-effective tools that meet the needs of a wide variety of enterprise based users.

iConcepts was founded in 1998 by Dr. Vincent J. Coll, Jr. to formulate solutions for the index, search, and retrieval sector. The company has grown organically and now has satellite offices in Sophia, Bulgaria and Moscow, Russia. iConcepts unaudited financials statements for 2004 report more than $2.8 million in gross revenues and $244,000 in net income.

Under the terms of the total stock agreement, iConcepts will function as a wholly owned subsidiary of Viyya Technologies. The VIYYA™ and iConcepts product lines will continue to deliver to their existing markets, and the companies will immediately begin blending components of their respective technologies for future new product introductions into both the consumer and enterprise markets.

"We view iConcepts as a very complementary company that will immediately impact our bottom line. iConcepts brings a solid track record of technological innovation and sales growth, as well as potential for substantial revenue and profit over the coming years," said John Bay, CEO of Viyya Technologies.

"John Bay has spent his career designing leading-edge products and services, and VIYYA™ is a perfect example of his innovative thinking. We are very excited about working together to strengthen VIYYA™'s core technology as well as package and deliver additional index, search and retrieval products in the content management markets," added Dr. Coll, president of iConcepts.

About Viyya Technologies, Inc.:

Viyya Technologies is a technology company that has developed and is currently marketing one of the most advanced, web-based information management applications for use in the home, in the office and while traveling. The company's core technology manages disparate information from the Internet, corporate intranets, databases, newsgroups, e-mail and third-party feeds by enabling users to customize the way they collect, process, distribute and store data. VIYYA™ gives users the ability to retrieve filtered content from many sources, determine the relevancy of the information and have the information processed into notifications, daily reminders, newspapers, or archived for future use.

Viyya Technologies trades on the Pink Sheets under the ticker symbol VYON. For additional company information, please visit www.viyya.com or contact Viyya Technologies at 973-226-6646. For investor relations information, please contact Jesus Rodriguez at 305-776-4535.

About iConcepts, Inc.:

iConcepts™ focuses on building and supporting technology solutions that turn data into information. Through its core strengths in data acquisition, web based archiving and information distribution, coupled with strong software development capabilities, iConcepts™ is uniquely qualified to provide cost-effective technology solutions. For more information, please visit www.iconcepts-inc.com.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Viyya Technologies disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.

Contact Information

  • Contact:
    Jesus Rodriguez
    305-776-4535