Ace Comm Corp (MM) (NASDAQ:ACEC)
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The Board of Directors of ACE*COMM Corporation (NASDAQ:ACEC)
today elected the corporation’s president, Jim
Greenwell, to the additional position of chief executive officer. Mr.
Greenwell succeeds CEO George Jimenez, who will continue to serve in the
position of Executive Chairman of the Board. Mr. Greenwell was also
elected a director of ACE*COMM, while Paul Casner, an existing director,
was designated as Lead Director.
Mr. Jimenez commented, “We believe this strong
leadership and governance structure will better enable us to realize our
goal of expanding into the mobile value-added services sector of the
telecom market so that ACE*COMM can take full advantage of the
fast-growing opportunities for innovative offerings like our flagship
Parent Patrol™ product, and other mobile
applications that are currently of interest in the mobile content and
network transaction sectors. At the same time, this team will ensure we
perform more efficiently in delivering our traditional operations
support system (OSS) products to customers.
“Since joining ACE*COMM last November, Jim has
been instrumental in improving our operations, solidifying our team and
positioning us for the future. The other directors and I look forward to
working with Jim in his expanded role.”
Mr. Casner added, “My role will be to promote
the effective coordination of the Board, ensure strong independent
oversight of the corporation’s performance,
and serve as primary liaison between the directors and the chairman and
CEO. The directors are committed to realizing ACE*COMM’s
full potential, have confidence in the leadership team and will be
actively involved in developing the company’s
new direction.
Mr. Greenwell added, “My enthusiasm for
ACE*COMM and its compelling products and skilled employees increases
every day. Together with George, Paul, our other directors and our
talented team of employees, we will grow the business through our focus
on providing each of our customers with services and products that add
strategic value.”
ACE*COMM also announced it has completed a reorganization and force
reduction to achieve profitable performance in its OSS business and to
focus its resources on expanding its value-added services business and
flagship Parent Patrol™ product. An overall
reduction in budgeted expenses of more than $3.0 million was achieved by
a combination of cuts in staff and fixed expenses, consistent with the
new company direction.
The corporation also announced the departure of Chris Couch, formerly
Chief Marketing Officer, to pursue other professional interests.
As part of the reorganization, Jonjie Sena was promoted to Vice
President of Marketing for Value-Added Services. Mr. Sena, who has been
with ACE*COMM since 1993, most recently as Product Manager for the
company’s service delivery platform and
value-added service products, will be responsible for all aspects of
marketing, development and deployment of ACE*COMM’s
service delivery solutions to mobile service providers.
ACE*COMM will review its strategy to transform its business and focus on
value-added services and advanced OSS business opportunities with
investors during its next quarterly conference call, to be held on May
15, 2007. Details regarding the call will be announced shortly.
About ACE*COMM
ACE*COMM is a global provider of value-added services, mobile content
delivery applications and advanced operations support systems (OSS)
solutions for telecommunications service providers and enterprises.
ACE*COMM’s solutions are applicable to a
range of legacy through next-generation networks that include wired,
wireless, voice, data, multimedia, and Internet communications networks.
These solutions provide the software applications that enable new
carrier services offerings and the analytical tools required to extract
knowledge from operating networks—knowledge
customers use for cost reduction, improved operational efficiency,
acceleration of time-to-market for new services, and more effective
customer care.
For over 20 years, ACE*COMM technology has been effectively deployed for
more than 300 customers, spanning over 4000 installations in 70
countries worldwide. ACE*COMM-installed products are currently enabling
the success of customers and partners such as Alcatel-Lucent, AT&T,
Cisco, General Dynamics, IBM, Level 3 Communications, Marconi, Motorola,
Northrop Grumman, and Siemens. Headquartered in the Washington, DC area,
ACE*COMM has corporate offices in Australia, Canada and the UK. ACE*COMM
is an ISO 9001 compliant company. For more information, visit www.acecomm.com.
ACE*COMM, NetPlus, the ACE*COMM logo, and N*VISION are registered
trademarks, and Convergent Mediation and Parent Patrol are trademarks of
ACE*COMM Corporation.
Except for historical information, the matters discussed in this news
release include forward-looking statements that are subject to certain
risks and uncertainties that could cause the actual results to differ
materially from those projected, including, but not limited to: the
failure of anticipated demand to materialize, delays or cancellations of
orders due to various factors, including business and economic
conditions in the U.S. and foreign countries; industry-wide slowdowns,
any limitations on customers’ financial
resources, the continued convergence of voice and data networks, the
continuing success of the Company’s strategic
alliances for product development and marketing, customer purchasing and
budgetary patterns or lack thereof; pricing pressures and the impact of
competitive products; the timely development and acceptance of new
products; the Company’s ability to adequately
support its operations, and other risks detailed from time to time in
the Company’s Report on Form 10-Q and other
reports filed with the Securities Exchange Commission.