TORONTO, Oct. 5, 2005 (PRIMEZONE) -- ActiveCore Technologies, Inc. (OTCBB:ATVE) announced today that Cratos Technologies Solutions Inc., part of its Systems Integration and Migration (SIM) division, has entered into an agreement with the Educational Computing Network of Ontario ("ECNO"), in which it has been contracted to migrate the association's Human Resources / Payroll applications from its existing mainframe platform to a Microsoft based platform and operating system.
ECNO is a non-profit information technology cooperative, incorporated to promote best practices and provide cost-effective information technology solutions to its members, which include over 55 of the 72 school boards in Ontario. This partnership between ECNO and Cratos has presented ECNO with a timely opportunity to engage in a major systems renewal project with a best-of-breed vendor.
Efrem Ainsley, CFO of ActiveCore stated, "The first phase of this contract, totaling more than $1.0 million, encompasses the initial application migration and platform conversion. Upon the successful completion by Cratos of this initial migration, the contract states that Cratos will be tasked with rolling this solution out to at least 24 of the association's member school boards. Though the exact value of this second stage is not determinable at this time, it is anticipated to be quite substantial in relation to the initial conversion project."
"The size and scope of this project is clear evidence that Cratos is executing its strategy well, and that the migration of legacy applications to more economical computing platforms is gaining momentum," said Andrew Wickett, CEO of Cratos. He went on to say, "This project will span multiple quarters, and will, upon its completion, represent one of the most significant conversion projects Cratos has ever completed."
In addition to the migration and rollout there is also a support component to this contract and details will be finalized in early 2006.
Peter Hamilton, CEO of ActiveCore stated, "Cratos worked closely with its partners to secure this major contract and we are particularly excited by the multiple parts of this contract and the potential for a long term relationship with ECNO."
About ActiveCore Technologies, Inc. (www.ActiveCore.com)
ActiveCore Technologies, Inc., operates a group of subsidiaries and divisions in the U.S., U.K. and Canada that offer a Smart Enterprise Suite of products and services. We integrate, enable, and extend functions performed by current and legacy IT systems. Our products encompass Web portals, enterprise middleware, mobile data access, data management and system migration applications. The Systems Integration and Modernization Division of ActiveCore operates under the trade names of CRATOS, MDI Solutions. The Corporate Disclosure and Messaging Division of ActiveCore operates under the trade names C Comm Network Corporation, DisclosurePlus and ActiveCast. ActiveCore services clients in healthcare, financial services, government and manufacturing worldwide.
Statements contained in this news release regarding ActiveCore Technologies, Inc. (formerly IVP Technology) and planned events are forward-looking statements, subject to uncertainties and risks, many of which are beyond ActiveCore's control, including, but not limited to, reliance on key markets, suppliers, and products, currency fluctuations, dependence on key personnel and trade restrictions, each of which may be impacted, among other things, by economic, competitive or regulatory conditions. These and other applicable risks are summarized under the caption "Risk Factors" in ActiveCore's Registration Statement on Form SB-2 filed with the Securities and Exchange Commission on January 4, 2005. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above.