Company Makes Inc. Magazine and Deloitte Technology Rankings
CALGARY, Sept. 20 /CNW/ - WellPoint Systems Inc. (TSX:V WPS), today
announced that its recently acquired Bolo subsidiary was recognized by both
Inc. Magazine and Deloitte in their annual reviews of rapidly growing
companies. Bolo by WellPoint is the leading provider of integrated
multi-tiered financial, land and production accounting solutions for the U.S.
oil and gas industry.
Bolo was named to Inc. Magazine's 5,000 Fastest Growing Private Companies
in America list for 2007, ranking number 745 overall and number 58 in the
competitive Software category. The Inc. Magazine rankings are based on a
variety of factors, including growth over a three year period, annual revenues
and employee information. Bolo was also named as a Deloitte Technology Fast 50
Award winner, recognizing the company as one of the 50 fastest growing
technology companies in Colorado based on percentage revenue growth over a
five-year period. The Fast 50 award makes Bolo eligible for the national
Fast 500 award (http://www.fast500.com) to be announced this fall.
"Our unique expertise in the energy industry is a primary factor in our
sustained growth as a company, along with strong customer service and
continued innovation in our products," said Mr. Richard Slack, Executive Vice
President of WellPoint Systems and former President and CEO of Bolo Systems.
"The complexities of bringing oil and gas from wellhead to consumer are
significant, and we expect our products and services will remain in demand
because of the efficiencies we bring to our customers' processes."
Bolo had revenue of US$12.3 million for the year ended December 31, 2006,
a 116% increase compared with US$5.7 million in 2005. Bolo enjoyed a more than
450% increase in revenue between 2003 and 2006. Based on WellPoint's and
Bolo's unaudited interim financial statements, the total revenues of the
combined entities for the six-months ended June 30, 2007 were approximately
CDN$21.5 million assuming the current USD/CDN exchange rate.
Last month, Denver-based Bolo Systems was purchased by WellPoint Systems,
Inc., a publicly-traded Canadian company listed on the TSX Venture Exchange.
WellPoint Systems is an emerging leader of software and related services for
managing critical back office operations within the international energy
industry. Bolo by Wellpoint will continue to be headquartered in Denver, with
offices in Houston, Texas.
About Bolo by WellPoint Systems
Bolo by WellPoint Systems helps oil and gas companies run their
businesses better through the application of fit-for-purpose technology and
superior services. More oil and gas companies choose Bolo over competing
solutions because of its powerful processing engine, open platform design and
robust reporting functionality. Designed and supported by industry experts,
the company's customer-centric software and services help oil and gas
companies record the complex transactional inherent in the industry and use
that data to manage their business. Bolo by WellPoint is headquartered in
Lakewood, Colorado, and operates a sales and support office in Houston, Texas.
About WellPoint Systems Inc.
WellPoint Systems provides premier software and related services for
managing critical operations within the energy industry. Aligning tightly with
Microsoft Corporation, WellPoint is the only Independent Software Vendor (ISV)
and Microsoft Dynamics partner dedicated to the energy sector. It is breaking
new ground with the creation of a more comprehensive, integrated energy
software suite based on existing Microsoft ERP technology that utilizes
state-of-the-art Dynamics AX(R) and .NET architectures. WellPoint became a
Microsoft Gold Certified Partner in 2005.
Founded in 1997, Calgary-based WellPoint Systems also has major
operations in Houston, TX, Livingston, NJ, Tampa, FL, Tunis, Tunisia and
WellPoint is publicly traded on the TSX Venture Exchange under the
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"intends", "indicates" or similar expressions. The statements are not a
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currently anticipated due to a number of factors, including, but not limited
to, successful integration of structural changes, including restructuring
plans, acquisitions, technical or manufacturing or distribution issues, the
competitive environment for the Company's products, the degree of market
penetration of the Company's products, and other factors set forth in reports
and other documents filed by the Company with Canadian securities regulatory
authorities from time to time.
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or accuracy of this release.
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