Ecuity announces the appointment of Ecuity chairman Shane Smith to additional role of CEO
July 21 2004 - 7:00AM
PR Newswire (US)
Ecuity announces the appointment of Ecuity chairman Shane Smith to
additional role of CEO BELLEVUE, WA, July 21 /PRNewswire-FirstCall/
-- Ecuity Inc., (OTC BB: ECUI.OB), an end-to-end unified voice and
data communications company serving the small-to-medium business
and residential markets, announced today the appointment of Shane
Smith as the chief executive officer of Ecuity. Smith, who also
serves as chairman of the board, previously served as executive
vice president of business development. King Cole continues as
president. "I am pleased to lead this multi-talented management
team during a time of rapid growth and expanding opportunities for
Ecuity. As a team, we recognize that we are at the beginning stages
of nothing less than a complete revolution in how voice and data
communications will be delivered," Smith said, on accepting the
additional position of chief executive officer. "Even more
importantly, we fully understand that it is through the efficient
delivery of a combination of enhanced voice, data and software
application services that Ecuity will meet the changing needs and
diverse demands of small and medium size businesses and residential
consumers." Ecuity is an emerging leader in providing advanced,
integrated communication solutions. These solutions include: -
Smart VoIP (voice over internet) for businesses, including full PBX
functionality, - Secure, encrypted text messaging, - Secure
document and data transmission over the Internet, including secure
remote access, and - Secure data backup/archive and retrieval.
Ecuity is combining smart VoIP/telephone switch design
configuration with secure Internet based text messaging, secure
data transmission technologies and advanced server software
technologies to provide a seamless integration of advanced
communication services. Smith said Ecuity was created by bringing
together the talents, technologies, industry experience and key
assets from several companies to form a new company capable of
being a leader in the new, rapidly evolving communications
paradigm. The management team spent two years putting together the
right combination of technologies, telephony infrastructure and
systems, VoIP architecture, customer service team and industry
experienced managers to create the right company to take advantage
of the opportunities from the emerging revolution in telephony. In
creating this new company, the management team was guided by the
following: - There is an over capacity of transmission capability
and traditional long distance is not just a commodity, but a
commodity with rapidly diminishing margins, - We are in the midst
of new, diverse transmission delivery technologies and strategies
as voice and data communications converge, - Smart, integrated
delivery of VoIP is not only now possible, it will rapidly and
increasingly threaten traditional long distance margins and
traditional telephone services as a whole. The combination of cell
phones and VoIP are making last mile of copper monopoly
increasingly irrelevant. "We determined that the answer is to
provide not just dial tone and long distance, but rather a
complete, integrated communications package through enhanced voice
and data communications and value added software application
services," Smith said. "These enhanced services must be delivered
conveniently and efficiently to customers, particularly business
customers, to generate multiple recurring income streams and
increased customer loyalty." In creating Ecuity, management
acquired the majority of the assets of Fox Communications Inc., an
18-year-old regional telephone company located in the Northwest,
and headquartered in Bellevue, Washington. With that acquisition,
Ecuity acquired the operational assets supporting approximately
18,000 telephone customers and a history of providing exceptional
customer service. "Just as importantly, we acquired management
talent that had strong experience and expertise in the delivery of
next generation VoIP voice communications," Smith said. "This
positioned Ecuity to transition rapidly from providing traditional
phone services to the immediate delivery of quality, full featured
PBX functionality using VoIP as the delivery platform." Smith said
Ecuity had already been in the process of acquiring other
complementary software technologies for the secure delivery of text
messaging, email, document and data transmission - primarily the
acquisition of the core technology assets of Karunga Technologies
Corp. "By bringing together the telephone infrastructure and
business systems from Fox Communications and the proprietary
software technologies for secure text-messaging, email and
document/data transmission, Ecuity is able to deliver a complete,
integrated communication system combining voice and data over the
Internet," Smith noted. Smith added, "We have configured our
systems to be delivered through a common platform that, in addition
to delivering enhanced voice and text communications services,
delivers to our customers Internet connectivity, and to our
business customers LAN/server solutions and additional value-added
software applications. All of the advanced communication and server
technologies can be delivered in a hosted PBX delivery strategy,
through installed PBX systems without the need to upgrade phone
systems, or by installing state of the VoIP phone systems. Combined
with the advanced business, carrier class IP/PBX VoIP, these
enhanced communications and value added software services
applications ensure recurring monthly revenues to the provider and
ensure a very close and secure relationship with the customer."
Smith said the vision of the Ecuity management team and the
superior deployment by Ecuity in delivering VoIP telephony services
- including full PBX call features - was validated at the recent
SuperComm show in Chicago. "In demonstrating our VoIP offerings, we
were able to show that we are currently offering our customers
full-featured VoIP/PBX voice services through numerous advanced
delivery strategies," he said. "All of these services are delivered
through a combination of Ecuity's switched and switch-less
telephone network and its advanced server technologies." "We intend
to continue to build our VoIP voice communications capability and
expand our software technologies with an aggressive internal
software development program and through the creation of joint
venture relationships and appropriate acquisitions," Smith said.
"Ecuity also intends to expand its customer base through joint
venture relationships and through acquisitions." In pursuing
acquisitions and joint venture relationships, Smith said the
company will focus on acquisitions of significant customer base,
new technologies that will increase the company's leadership in the
convergence of voice and data in an integrated delivery system,
while driving top-line and bottom-line revenue. About Ecuity, Inc.
(http://www.ecuityinc.com/) Ecuity is a provider of secure
end-to-end unified communication technologies for the small- to
medium-business market. Ecuity uses secure next- generation voice
services, instant messaging, data transfer, internet, conference
calling and enterprise software to create solutions that meet the
communication needs of today's business world. As a
facilities-based carrier, Ecuity has operated as a traditional
telephone company for 17 years, providing service to thousands of
customers across the country. Through the integration of web-based
telecommunications and cutting-edge software technology, Ecuity
economically delivers secure unified communication solutions that
break down distance, time and media barriers to allow people to
communicate anywhere, anytime and across multiple mediums. Ecuity
has offices in Bellevue and Seattle, Washington. This report
includes "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934. The information in this news
release includes certain forward-looking statements that are based
upon assumptions that in the future may prove not to have been
accurate and are subject to significant risks and uncertainties,
including statements as to the future performance of the company.
Although the company believes that the expectations reflected in
its forward-looking statements are reasonable, it can give no
assurance that such expectations or any of its forward-looking
statements will prove to be correct. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, product development acceptance, and
the impact of competitive services and pricing and general economic
risks and uncertainties. For more information, please contact: For
Ecuity: ----------- Jennifer Stephens Telephone: (206) 210-5033
Investor Relations ------------------ Truc Nguyen VP, Investor
Relations Stern & Co. Telephone: (212) 888-0044 Media Relations
--------------- Stan Froelich VP, Media Relations Stern & Co.
Telephone: (212) 888-0044 DATASOURCE: Ecuity, Inc. CONTACT: For
Ecuity: Jennifer Stephens, Telephone: (206) 210-5033, ; Investor
Relations, Truc Nguyen, VP, Investor Relations, Stern & Co.,
Telephone: (212) 888-0044, ; Media Relations, Stan Froelich, VP,
Media Relations, Stern & Co., Telephone: (212) 888-0044,
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