MANCHESTER, N.H., Feb. 15, 2011 /PRNewswire/ -- QED Connect, Inc. (Pink Sheets: QEDN), a New York corporation ("QED Connect"), today announced that it has signed a Letter of Intent to provide for marketing, business development and financial support with Sonasoft Corp, a San Jose California based company.
Sonasoft offers an innovative emailing archive solution for small to medium enterprise's business (SMB) that offers full protection of mission critical data at all times. Sonasoft provides separate business continuity applications that can become a fully integrated solution including Backup, Disaster Recovery, Replication, and Archiving all while being server agnostic. Sonasoft's products target the growing concern that email communication is the primary business communication vehicle today. Their products offer an intelligent email archiving solution to address the growing importance of protection, compliance, litigation and eDiscovery.
"We are proud of our success to date, such as with The Napa County Office of Education where the Sonasoft archiving solution is used to record all incoming and outgoing emails providing easy retrieval for eDiscovery purposes, ultimately limiting liability," said Andy Khanna, President and CEO of Sonasoft. "We welcome the opportunity to partner with QED as we look forward to the next milestone of growth, fuelled by expansion into new markets."
"This Letter of Intent with Sonasoft is in alignment with QED's strategy to develop strategic relationships with companies that have strong potential in diverse markets where QED can assist in achieving their plans and realizing their maximum growth opportunity," commented Tom Makmann, CEO of QED Connect. "Sonasoft has been successful in developing a strong presence in the SMB market and is generating revenues. The proposed arrangement, in our estimation, will assist them to achieve their long term goals."
Mr. Makmann, added, "The Company is continuing to move forward on its strategy and is excited about our recent progress. We are expecting to realize improved operating results over the next few quarters as our partner's ramp up their respective businesses. We also expect to be completing the Nazz acquisition this quarter."
While there can be no assurances that a definitive agreement will be reached, the companies expect to finalize a definitive agreement by the end of this quarter, subject to the approval of the respective Boards of Directors. Specific terms of the proposed transaction were not released at this time.
For additional information about the benefits and advantages of the complete Sonasoft solution, visit www.Sonasoft.com. To learn more about Sonasoft's Email Archiving solution, visit http://www.sonasoft.com/products/sonavault-email-archiving-software.
About QED Connect, Inc.
QED Connect, Inc. is a New York corporation holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company seeks businesses with strong potential which QED can assist in achieving their plans and realizing their maximum potential. This business model achieves the Company's goals and expands its overall revenue and profits and diversifies through entry into the multiple market segments. It is QED's intention to help its partners and subsidiaries realize growth, and that growth would, in turn, enhance QED's ability to increase shareholder value. www.qedconnect.com
Sonasoft is a privately held developer and provider of Archiving and Business Continuity Software on the Microsoft Windows platform specifically for the Small to Medium Businesses. The company's products provide separate business continuity applications that can become a server agnostic fully integrated solution that includes Backup, Disaster Recovery, Replication, Email Management and Archiving. Founded in 2003, the company is headquartered in San Jose, CA. For more information, please visit www.Sonasoft.com.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect, Inc., (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to finance the joint venture with SoFame Technologies, Inc., and to fund QED's overall expansion plans; (ii) successfully obtain and fill potential joint venture product orders; (iv) generate sufficient revenue and efficiently manage operations to obtain profitability; (v) competitive factors and developments beyond the Company's control; and (vii) other risk factors.
SOURCE QED Connect, Inc.