VANCOUVER, Aug. 5 /CNW/ - IP Applications Corporation (TSX-Venture: IPX)
announces that Mr. John Bean, CA, has joined the Company as its Chief
Financial Officer. His appointment is subject to approval by the TSX Venture
John Jacobson, President and CEO said, "We're delighted to bring someone
with John's extraordinary breadth of experience and expertise onto the IPA
management team as we continue to experience accelerated growth in our SaaS
Billing System. John's knowledge of the IT industry, gained at Accenture and
at SHL Systemhouse (acquired by EDS of Plano, TX), combined with his
demonstrated entrepreneurial drive and business acumen, will provide the
management team with considerable new capacity and depth.
I'd also like to acknowledge the contributions made by Richard Topham,
CA, who joined us in October 2005 as our part-time, interim CFO. His
dedication and commitment to seeing the Company through our sometimes
challenging stabilization period is sincerely appreciated."
Until joining IP Applications, John Bean was the principal of InSpire
Consulting Services Ltd., which provided bridge management services and senior
executive counsel to technology and other companies.
Before founding InSpire, John was an Executive Vice President of SHL
Systemhouse during the period when revenues tripled from $400 million to $1.2
billion. He was a member of SHL's Executive Council and was responsible for
extending SHL's global reach in Asia Pacific. He established joint ventures
between SHL and Mitsui in Japan, Tong Yang in Korea and BHP in Australia.
Prior to joining SHL, John was a partner with Accenture, where he was
recognized in the industry for winning and delivering major business
consulting and technology services contracts across a broad spectrum of
industrial sectors. He sat on the advisory board of Accenture's CSTaR (Center
for Strategic Technology Research) and was Accenture's Communications Industry
Director for Canada.
About IP Applications
IP Applications Corp. (www.ipapplications.com) delivers billing, payments
processing and technical support services for online businesses. The Company's
on-demand billing and payments application delivers variable recurring
payments processing and subscriber lifecycle management for
Software-as-a-Service (SaaS) and Cloud computing companies. Established in
1998, the Company has a client roster that includes Sprint Nextel, Bell
Mobility, Amway Corporation and AOL Canada.
This news release contains forward-looking statements. Actual events or
results may differ materially from those described in the forward-looking
statements due to a number of risks and uncertainties, including changes in
financial and product market conditions altering or eliminating product usage,
changes in exchange rates affecting profitability, and competitor's product
enhancements reducing IP Application's competitive advantage. Forward-looking
statements are based on management's estimates, beliefs, and opinions. The
company assumes no obligation to update forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: John Bean, CFO, D: (604) 630-5657, E: