IBSG International Announces First European Project: Hungary Provides Approval to Purchase License for Trade Platform BizWorld P
January 05 2009 - 9:00AM
Marketwired
IBSG International, Inc. (OTCBB: IBIN), a holding company for four
technology and software subsidiaries, announced today that its
BizWorld Pro� digital commerce platform has been selected by the
Hungarian Ministry of Economic Affairs to serve as the digital
commerce service center for its small-, micro- and mid-size
enterprise [SME] development program. The value of the license is
approximately US$7.7 million over 4 years and the total possible
projected subscribers over 5 million.
Eszter Rumbold-Molnar, First Secretary Economic Affairs, said,
"We strongly believe that the SME sector is the key to Finland's
future commercial growth. Offering a fully integrated platform that
will assist SMEs to be more competitive on the international market
has been a goal of the government. To be able to provide the
foundation, through the BizWorld Pro platform, ensures long term
success. The European Union (EU) has allocated over E26BB
specifically for this purpose. With global markets facing
significant challenges the need to implement platform's such as
BizWorld is essential to ensure continued growth in this vital
sector."
Dr. Michael Rivers, CEO of IBSG International, said, "We are
honored to be included by Hungary's government as part of the
nation's trade strategy. This latest contract demonstrates how we
are achieving expansion throughout the world. Most countries have
already been focused on trade acceleration and competitiveness
within the SME sectors. Procurement and open bid opportunities for
government contracts has also received equal attention. Our
platform provides the long term strategic tools for trade growth
and acceleration. We look forward to working with the Hungarian
Government and its neighbors in the future."
About IBSG International, Inc. (www.ibsgi.com)
IBSG International, Inc. is a holding company for four
technology and software subsidiaries: Intelligent Business Systems
Group, Inc. (IBSG), a provider of turnkey digital service center
software; Secure Blue, Inc., a Sarbanes-Oxley and security software
solution provider; Intelligent Business Systems Development (IBSD),
a software development, maintenance and data storage company; and
IBSGI - UK, a consultant company focused on development of IT
projects for Governmental bodies and multinational
corporations.
IBS Group offers enterprise solutions designed to enhance the
operating efficiency and create revenue for State Small Business
Development Centers, business associations (e.g., business
associations) and Fortune 1000 corporations by licensing its unique
turnkey digital service center software, which provides a broad
range of digital budgetary, administrative and commercial services
(B2B, e-commerce, government to business and enterprise business
services) on a single platform known as the BizWorldPro�.
Secure Blue, Inc. provides a robust economical Sarbanes-Oxley
(SOX) compliance and security software suite, Secure Blue SOX Pro.
It is targeted at small- and mid-cap public companies as well as
private companies requiring SOX compliance to enable them to
continue working with public companies.
As software providers, system integrators and Application
Service Providers, IBS Group, Inc. and Secure Blue, Inc. generate
revenue from license sales, system modifications, systems support
and a percentage of monthly customer fees. The typical IBS
Group/Secure Blue license agreement has a five-year term which is
updated on an annual basis.
IBS Development, Inc. will provide ongoing support of
International's other subsidiaries, IBS Group and Secure Blue. The
company provides development, system support and secure data
storage, and will maintain offices in the US and India, where its
current offshore development and support team is located.
IBSGI - UK establishes IT projects for various countries and
multi-national corporations around the world. IBSGI - UK has
already introduced the BizWorldPro platform to a number of
countries and continues to provide demonstrations of the system on
an international scale. For multinational corporations, the
projects are normally recognized offset program qualified and
provide a required contractual obligation of these corporations.
IBSGI - UK maintains relationships with various multinational
corporations and operates from centrally located offices in
London.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the
statements in this release are forward-looking statements that are
made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. The above information
does not guarantee any successful closing of new business. No
assurances can be given that any projections related to gross
revenues or profit margins will be realized. Forward-looking
statements involve known and unknown risks and uncertainties that
may cause the companies' actual results in future periods to differ
materially from forecasted results. Such risks and uncertainties
include, but are not limited to, market conditions, competitive
factors, the ability to successfully complete additional financings
and other risks.
Contact: IBSG INTERNATIONAL, INC. (321) 939-6321
IBSG (CE) (USOTC:IBIN)
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