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Share Name | Share Symbol | Market | Type |
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Xrm Global | TSXV:XRM | TSX Venture | Common Stock |
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xRM Global Inc. ("xRM Global") (TSX VENTURE:XRM) is a Software-as-a-Service (SaaS) solutions provider that empowers enterprises to use intelligence generated from business television and the Social web to create and manage high-trust relationships within the Wealth Management and Insurance sectors. xRM Global is pleased to announce the execution of a Strategic Master Reseller Agreement with 5M Technologies WLL ("5M"). 5M will act as xRM Global's exclusive regional distributor in the Middle East and North Africa (MENA). "This launch furthers the Company's global growth strategy, providing local support for our enterprise customers across the MENA region" said Gary Bartholomew, CEO of xRM Global. "This strategic alliance with 5M Technologies is extremely valuable as they have the resources to reach the large enterprise customers directly. Our selection process reviewed several strong regional candidates. 5M had the balanced mix of direct, channel, global vendor expertise and knowledge of key accounts that we look for in a partner. In the end, it was the 5M team's ability to align with our corporate vision and their commitment to results that was superior to the other candidates. We are confident that this partnership will be a major success." Under the terms of this agreement, 5M has regional growth targets in place with an execution plan focused on profitable expansion into the key markets of Kuwait, United Arab Emirates, Saudi Arabia, Egypt, Qatar, Jordan, Lebanon and others. The regional target forecast is for 4,800 seats within 12 Enterprise customer accounts. The early qualification of lead customers and opportunities will enable the necessary modifications to ensure rapid uptake in this market. Further, with their depth of channel experience, 5M have identified eight to ten third-party VARs who will be sub-licensed to expand their regional coverage. Once in place, the network of Master Reseller and VARs will provide extensive coverage to the region and will serve as the launch platform for additional products which are currently in development. Product will range in price from $40 to $200/month per seat. The potential contract revenue of the current opportunities in xRM Global's MENA pipeline is in excess of $US10M annually. "xRM Global's High Touch - High Trust Utility and its Wealth Intelligence and Insurance solutions are exactly what our enterprise customers are looking for." stated Mr. Abdulaziz Al Abdullah, CEO of 5M Technologies. "We see great potential to enhance our offering and grow our company with xRM Global's innovative products." ABOUT 5M Technologies WLL 5M Technologies WLL ("5M") is a privately-held systems integrator and technology distributor with extensive experience throughout the MENA Region. Their mission is to deliver innovative information technology solutions to corporate customers through a network of partners and suppliers. They deliver best practice focused solutions that span infrastructure, engineering and application delivery. 5M Technologies, in conjunction with its partners, form a powerful technology distribution company in Kuwait and MENA providing suppliers with access to markets and customers with their end-to-end business solutions. 5M Technologies' expertise, together with their suppliers and partners, deliver a range of effective and efficient solutions that enable customers to focus on their core business while reducing their costs. 5M Technologies is targeting the over 40,000 corporate customers in MENA with a range of products and solutions that include cloud technologies and hosted applications. 5M Technologies' commitment to its shareholders and partners is to help their clients achieve business gains through cost-effective, standards-based solutions that leverage existing IT assets. About xRM Global Inc. xRM Global empowers enterprises with on-demand, relationship management (RM) solutions that monitor business TV and the social web to extract intelligence relevant to their client's needs. Financial professionals use this intelligence to enhance their client relationships with more frequent touch points, sharing unique, relevant insights with their clients. The xRM Utility platform and RM applications are changing the way Wealth Management and Insurance companies communicate with their customers, including: -- Ockham Research, global stock intelligence for individuals -- WealthRazor, global stock intelligence for wealth advisors -- xRM Wealth, relationship intelligence for wealth management practices -- xRM Insurance, relationship management for the insurance sector -- xRM Connect, CRM for sales and delivery channels -- Private Labelling, stock intelligence branded by Financial Services enterprises The company has offices in Canada, the U.S.A, MENA and Brazil. Additional information about xRM Global can be found at www.xrmglobal.com and at www.sedar.com. Forward-looking Statements: This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, economic performance and future plans and objectives of xRM Global. Any number of important factors could cause actual results to differ materially from these forward-looking statements. Although xRM Global believes that the assumptions and factors used in making these forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that any such events will occur in the disclosed timeframes or at all. xRM Global disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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