CALGARY, March 1 /CNW/ - CriticalControl Solutions Corp., (TSX-V:CCZ)
today announced that it has completed the acquisition of Idein Technologies
Ltd. ("Idein"). Based in Calgary, Alberta, Idein's primary business is
providing access to and control of electronic flow measurement and other
devices at the wellsite. Rob Beasant, a principal of Idein, will join
CriticalControl as of March 1, 2007 as Director of Field Technology Solutions.
"The acquisition of Idein and the addition of Rob to our team broadens
our core expertise in the understanding and control of field devices," said
Alykhan Mamdani, President of CriticalControl. "The control of field devices
is an essential component of CriticalControl's plan to consolidate its various
applications into a system of integrated management of energy data."
As consideration, CriticalControl paid $225,000 in cash and issued
1,133,333 shares of CriticalControl to the vendors. The acquisition, which is
expected to be immediately accretive to the company, is expected to add more
than $500,000 in annualized revenue.
CriticalControl is a technology company that builds, implements and
manages critical business process solutions. Our proprietary products are data
management tools to operate the critical business operations of our government
and energy sector clients. In addition to our proprietary products, we
implement large scale document and records management solutions using our
strong domain expertise and in depth knowledge of our customer base. Where
critical processes require unconditional continuity, our clients look to us to
manage and perform certain operational functions on a short term or long term,
outsourced basis. For more information please visit www.criticalcontrol.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Alykhan Mamdani, President, Tel (403) 705-7500;
or David Feick, The Equicom Group, Tel (403) 538-4787, Fax (403) 266-2453,