MIAMI, FL--(Marketwire - June 13, 2007) - Seamless Technology Inc. (PINKSHEETS: SLSX) (www.seamlesstech.com) today announced the first of several planned management additions that will enable it to further implement its operational strategy of combining the capabilities of its subsidiaries and making strategic investments in order to create value for its clients and stockholders. The additions are designed to increase its capabilities as a diversified holding company and to support CEO Borys Rafalowicz's vision of combining innovative and complementary seamless technologies to drive growth and value.
As part of its continuing process to increase the holding company's management capabilities, Seamless announced that Professor Gerald Gold has joined the Company as Vice President and Chief Relationship Officer. He will be heading some of the most important projects for United Russian Technologies Inc., Florida, Seamless' newest subsidiary. Professor Gold, a former Wall Street economist, is known to many as "the grandfather of hedging," and is author of "Modern Commodity Futures Trading, 1972," "Modern Futures and Options Trading 1989" and various other books. Additionally Professor Gold has traveled the world lecturing corporate executives on how to offset business and investment risks. He maintained offices in London, Paris, Beirut and Hong Kong. He was instrumental in the creation of United Russian Technologies and providing a customer pipeline for its potential technology products and services.
Under the holding company strategy supported by this first addition, the Company will increase its capabilities to act as a conduit for spinning off domestic, as well as international technology companies. This strategy will initially focus on United Russian Technologies, which was formed as a joint venture with Evgeny Babayan, former head of the Innovation Directorate of the Russian Academy of Science, to provide intellectual property and services from leading Russian science and research laboratories to commercial markets in the Americas and Europe.
According to Rafalowicz the strategy and capabilities will, "enable the company to achieve synergistic and exponential growth in both U.S. and international markets by adding to its capabilities to grow and roll up companies with complementary current and emerging technologies. Our first opportunity in United Russian Technologies to create new technology-based companies is unique, and is evidence of our success in implementing the holding company strategy. This is because of the exclusive relationship and access to intellectual property and experts in the areas of energy, information technology, biotechnology and pharmaceuticals. Any new companies or acquisitions will be set-up as subsidiaries until the required revenue growth substantiates a spin off to the public markets."
The strategy will also enable the company to leverage each of its subsidiary's strengths to provide a suite of technology-based services for companies seeking to maximize their revenue growth utilizing their brand continuity through a seamless integration of bundled applications provided by a full-package business partner. Moreover, the company will aim to develop and deliver its own solutions by investing in next generation high-value business applications and services.
"Seamless' future success in the global marketplace will depend heavily on the abilities of our corporate management team to fully leverage the resources and product innovations of our existing subsidiaries, as well as research opportunities for new strategic investments, acquisitions, and mergers. Making Seamless an end-to-end technology provider with a unique bundling of global products and services under one roof, versus the ones offered through a widely fragmented technology service industry," said Vice President of Sales and Marketing.
"The clarity of our corporate identity to operate as a diversified holding company, represents significant strategic changes that are taking place in our business model and represents new opportunities for our shareholders," concluded Rafalowicz. "I believe our strategy creates a unique balance of value, and optimizes the management group's talent and resources to enhance shareholder value."
