RENO, Nev., Sept. 16, 2010 (GLOBE NEWSWIRE) -- Encompass Holdings, Inc. (Pink Sheets:ECMH.), www.encompassholdings.com, announced today that its' wholly owned subsidiary, Quadrant Data Systems, Inc. (QDS-I) has signed a Letter of Intent to form a joint venture with WebPerception Wireless Networks in order to create a new product offering under the trade name HyperBackbone™.
HyperBackbone™ product will make it economically and technically possible for small businesses to connect directly to our secure data center with the bandwidth equivalent of a DS3 line," explained Kirk Hurford, Chief Operating Officer of Quadrant. Hurford went on to say, "this is just the beginning of our network build-out plans designed to expand our market reach as well as add additional revenue streams."
Joe Berardi, Quadrant's CEO, noted, "This solves a major problem standing in the way of outsourcing server hosting for many businesses. With the HyperBackbone™ product, we have engineered a direct line from the business to the data center, allowing for a highly secure virtual private LAN connection, while still maintaining local LAN bandwidth. This joint venture is a key component of our growth strategy which centers on joining with key technology partners to build revenues with innovative products and services that can be rolled out quickly with very competitive pricing. Enabled by the recent Encompass capitalization project, in conjunction with our core services, this new product line is expected to deliver a significant contribution to our bottom line."
Peter Skeels, President, WebPerception Wireless Networks, added, "The best part is that we will be able to deliver this level of connectivity and reliability for significantly less than what many businesses pay for their T1 connections today. I am especially proud to be able to work with Quadrant to provide a technology that will enable both bandwidth and security capabilities unparalleled by our competition."
Scott Webber, CEO of Encompass, stated, "According to the Letter of Intent signed by the two companies, the HyperBackbone™ product will be a cooperative effort and bring together the engineering talent and capabilities of the two companies to make the HyperBackbone™ product possible."
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Forward-looking statements in this news release are made under the "Safe Harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the forward-looking statements, including the impact of changed economic or business conditions, competition, the success of existing and new product releases and other risk factors inherent in product development and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.