NEW YORK, Aug. 31, 2015 /PRNewswire/ -- Newtek Business Services Corp. ("The Company"), (NASDAQ: NEWT), an internally managed business development company ("BDC"), today announced that Newtek Technology Services ("NTS"), one of The Company's wholly owned portfolio companies, has entered into an exclusive contract with iThinQware, Inc., a software development company that specializes in online and mobile software applications for use in law enforcement, independent school districts, trucking and transportation, and private industry. Through this contract, NTS will provide exclusive hosting services as well as act as a Master Reseller of iThinQware's advanced suite of mobile applications including iWatch™, iTag™ and iPredict™, which are used for crime tips, crime reports, citizen alerts and crime analysis.
Barry Sloane, President, Chairman and Chief Executive Officer of Newtek Business Services Corp. said, "We are extremely excited to partner with iThinQware, Inc., a truly innovative company providing crucial crime-stopping mobile application solutions. With our exceptional level of industry expertise and premier customer service, we believe we are the perfect choice to support and distribute these go-to mobile applications, currently the most advanced available, having been effectively used in U.S. entities such as the Dallas Police Department for several years. We are proud to play an integral role in enhancing national community safety, and anticipate continuing to expand our hosting and reseller capabilities in this arena as multiple other public and private enterprises, such as universities, military, and public school systems, are in the Newtek / iThinQware pipeline to contract for software and hosting services."
Daniel R. Elliot, Chief Executive Officer and Founder of iThinQware, Inc. commented, "We are pleased to be partnered with a strong, versatile, public company like Newtek. Newtek delivers the critical support infrastructure enabling iThinQware to serve the requirements of law enforcement and security operations on a global scale."
About Newtek Technology Services
Newtek Technology Services is a wholly owned portfolio company of Newtek Business Services Corp., and has been managed by The Company since 2004. The Newtek Technology Services' infrastructure is now the foundation of Newtek's cloud technology portfolio, software and business services for small- to medium-sized businesses, and large enterprises that need to finance and deploy information technology operations in the cloud.
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business Authority®, is an internally managed BDC, which along with its controlled portfolio companies, provides a wide range of business services and financial products under the Newtek® brand to the small- and medium-sized business ("SMB") market. Since 1999, Newtek has provided state-of-the-art, cost-efficient products and services and efficient business strategies to over 100,000 SMB accounts across all 50 States to help them grow their sales, control their expenses and reduce their risk.
Newtek's products and services include: Business Lending, Electronic Payment Processing, Managed Technology Solutions (Cloud Computing), eCommerce, Accounts Receivable Financing, The Secure Gateway, The Newtek Advantage™, Insurance Services, Web Services, Data Backup, Storage and Retrieval and Payroll.
The Small Business Authority® is a registered trade mark of Newtek Business Services Corp., and neither are a part of or endorsed by the U.S. Small Business Administration.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements. Words such as "believes," "intends," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected in or suggested by the forward-looking statements. Such risks and uncertainties include, among others, intensified competition, operating problems and their impact on revenues and profit margins, anticipated future business strategies and financial performance, anticipated future number of customers, business prospects, legislative developments and similar matters. Risk factors, cautionary statements and other conditions, which could cause Newtek's actual results to differ from management's current expectations, are contained in Newtek's filings with the Securities and Exchange Commission and available through http://www.sec.gov/.
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