Applied Digital Solutions (NASDAQ:ADSX)
Historical Stock Chart
From Jul 2019 to Jul 2024
InfoTech USA, Inc. (OTC BB: IFTH), a majority-owned
subsidiary of Applied Digital (NASDAQ: ADSX), announced today that it
has entered into a partnership with West Palm Beach, FL-based SLPowers
to deliver managed services solutions to its core market area in
Northern New Jersey and Metropolitan New York City and beyond.
Pursuant to the agreement, InfoTech will be able to resell SL Powers's
Guaranteed Networks(R) solution, a customizable suite of integrated
services designed to support and maintain a company's computer network
systems for a set monthly fee.
Commenting on the partnership, InfoTech President and CEO Jay
McKeage noted, "The partnership with SLPowers is a key element of the
restructuring program we are implementing at InfoTech. By entering the
dynamic and complex Managed Services field with an experienced partner
like SLPowers, we are moving ahead with our plan to increase
higher-margin, recurring service revenues, while maintaining our base
business of product sales. Following our recent workforce reduction,
we are now making the necessary changes to our business model to move
InfoTech towards growth and profitability, and towards an enhanced
ability to differentiate ourselves competitively in this
rapidly-changing technology environment."
SLPowers President Rory Sanchez added, "We are very excited about
the partnership with InfoTech, and the opportunity to extend the
market reach of Guaranteed Networks to their core market area and
nationwide. By leveraging the strengths of both companies in what has
become a complicated industry, we expect this to be a mutually
beneficial expansion strategy that will allow us to quickly deliver
our solution and gain market share in new geographies."
About SLPowers
Based in West Palm Beach, FL, SLPowers is one of South Florida's
largest computer and network management companies, serving the region
for over 18 years. Since day one, SLPowers's goal has been to relieve
businesses of the headaches associated with managing technology. As a
pioneer in the field of Managed Services, SLPowers created Guaranteed
Networks(R) (GN), a comprehensive service agreement product that has
gained national recognition. GN agreements cover virtually all device
connectivity, desktop support, and ISP troubleshooting issues. At
SLPowers, technical support isn't just about responding to
emergencies. Guaranteed Networks(R) plans are designed to optimize
networks and prevent problems before they occur. Please visit
www.slpowers.com for more information.
About InfoTech USA
InfoTech USA, Inc., a majority-owned subsidiary of Applied
Digital, is a 20 year-old provider of information technology
solutions, including consulting, networking, procurement, deployment,
integration, migration and security services and solutions. The
company also provides on-going system and network maintenance
services. For more information, please visit www.InfoTechUSA.com.
About Applied Digital - "The Power of Identification Technology"
Applied Digital develops innovative identification and security
products for consumer, commercial, and government sectors worldwide.
The Company's unique and often proprietary products provide
identification and security systems for people, animals, the food
supply, government/military arena, and commercial assets. Included in
this diversified product line are RFID applications, end-to-end food
safety systems, GPS/Satellite communications, and telecomm and
security infrastructure, positioning Applied Digital as the leader in
identification and security technology. Applied Digital is also the
owner of a majority position in Digital Angel Corporation (AMEX: DOC).
Statements about the Company's future expectations, including
future revenues and earnings, and all other statements in this press
release other than historical facts are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as that term
is defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve risks and uncertainties and
are subject to change at any time, and the Company's actual results
could differ materially from expected results. The Company undertakes
no obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances.