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Kranem Corporation Acquires Adora ICT Srl.
Dec 27, 2011 (04:12 PM EST)
The Acquisition Provides Kranem with Access to the Data and Systems Security Industry in Italy
SAN MATEO, Calif., Dec. 27, 2011 /PRNewswire/ -- Kranem Corporation (OTCBB: KRAN), announced that on December 21, 2011 it executed agreement to acquire privately-held Adora ICT Srl., a company specialized in evaluating data and systems security risks and recommending appropriate solutions. Adora processes a strong technical staff and a solid customer list. We anticipate that the acquisition will provide Kranem Corporation with an important presence in the Italian data security and analysis market. In 2010, Adora reported net revenue of over $4.0 million and was profitable.
Kranem's CEO, Mr. Ajay Batheja stated, "We believe that the combination of our homeland security products with Adora's technical expertise and solid customer base will be of benefit to both businesses. In addition, Kranem gains a new sales channel and access to major customers in the Italian data security and analysis market." Kranem Corporation is a leading provider of digital security products and services driven by its InteliCENTER module, which provides an adaptive data analysis tool and dashboard that interacts with its supporting modules: InteliANALYZER, InteliSTRATEGIZER, InteliRETENTION, and InteliCURATOR. The supporting modules are described in more details below. Kranem's homeland security products provide solutions to law enforcement agencies and the homeland security agencies in India, Africa and some other Asian countries. "We believe this acquisition will provide a strong opportunity to introduce Kranem's homeland security products to the European law enforcement," Mr. Batheja added.
Kranem's primary product, InteliCENTER, is an Actionable Intelligence platform that facilitates the investigation and decision making process of government and law enforcement agencies. InteliCENTER acquires, correlates and analyzes large volumes of data received from varied information sources (such as telecommunications service providers, internet service providers, government agencies and other information systems) and provides intelligence to proactively counter criminal activities. Unstructured data includes cross-channel analysis of phone calls, Internet sessions, email, chat, instant messaging, video captured by closed circuit cameras and radio communications.
About Kranem/Xalted Group:
The company is headquartered in San Mateo, California, USA, with additional offices located in Mumbai, Delhi, Bengaluru, and Baddi, India and Rome, Italy. For more information, please visit: www.kranem.com
Ms. Kamini Rupani
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are indicated by words such as "anticipates" and other similar words or phrases. Such forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the company's customer base (particularly telecom and law enforcement agencies) and the resulting uncertainties; changes in technology and market requirements; decline in demand for the company's products; inability to timely develop and introduce new software, services and applications; difficulties or delays in absorbing and integrating acquired operations, technologies and personnel; loss of market share; pressure on pricing resulting from competition; and inability to maintain certain marketing and distribution arrangements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and Kranem Corporation undertakes no obligation to publicly release or otherwise disclose the result of any revision to these forward-looking statements that may be made as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Kranem Corporation