Zedi Inc.

Zedi Inc.

May 06, 2008 18:27 ET

Zedi Inc. Announces the Acquisition of Universal Measurement Solutions Ltd.

CALGARY, ALBERTA--(Marketwire - May 6, 2008) - Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED) today announces that its wholly owned subsidiary, Zedi Canada Inc., has completed the acquisition of all issued and outstanding shares of Universal Measurement Solutions Ltd. (UMS) for a cash payment of $800,000. UMS is a private corporation based in Calgary, Alberta providing measurement and control services to the oil and gas industry. Rundle Energy Partners was engaged by UMS as their exclusive advisor in this transaction.

The acquisition of UMS will enhance Zedi's position as a leader in production operations management solutions through the integration of UMS technology into the Zedi suite of solutions. The combination of the two organizations will consolidate the surveillance market, adding the 700 wells currently monitored by UMS to the well count monitored by Zedi and will contribute approximately $850,000 annually to Zedi's recurring revenue base.

Significant gains in operational efficiencies will be realized through the reduction of duplicated effort in the two organizations and will lead to a modest increase in earnings for Zedi. Service for current UMS customers will be continued without disruption and the introduction of Zedi service programs, designed to deliver an excellent customer experience, will be initiated immediately upon closing.

Matthew Heffernan, President and CEO of Zedi, states, "The completion of the acquisition of UMS by Zedi is further evidence of our intention to establish Zedi as a leader in production operations management. The acquisition contributes positively to the Zedi technology strategy and further increases the market penetration of monitored wells as the combined entities result in an installed base of approximately 10,000."

Zedi Inc. (TSX VENTURE:ZED) specializes in production operations management, delivering systems and services that help oil and gas producers to efficiently manage people, assets and information. We enable our customers to increase earnings from production, decrease operating costs, effectively utilize human, physical and fiscal assets and mitigate compliance risk.

Established in 1987, Zedi has enhanced the operational performance of more than 200 upstream, midstream and oilfield service customers. Please visit www.zedi.ca, for more information.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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