Company and tech news from the region.
QuickVault releases Flash drive backup system
Atlanta-based QuickVault released JumpVault Backup software, a file backup and management system for USB flash drives.
The company said JumpVault eliminates the need to manually back up files, provides a way to prevent the loss of important documents and information, helps with file organization, maintains file versioning, and improves the functionality of USB flash drives.
Ptek Holdings buys conferencing company
Atlanta-based Ptek Holdings Inc. bought Virginia-based Connect-us Group Communications for $8.9 million net of working capital.
Connect-us offers audio and data conferencing services and has an annualized revenue run rate of approximately $6 million, based on first half 2004 results.
Ptek provides business, data and group communications services.
Heyer joins Internet Security board
Atlanta-based Internet Security Systems Inc. added Coca-Cola’s Steven J. Heyer to its board of directors.
Heyer joined Coca-Cola in 2001 from AOL Time Warner, where he served as both president and COO of Turner Broadcasting System Inc. and a member of the AOL Time Warner operating committee.
Equifax CEO to retire
Equifax Inc. Chairman and CEO Thomas F. Chapman will retire in 2005 after a successor is named and the transition is completed.
Chapman has served as chairman and CEO since May 1999. Under Chapman’s leadership, Equifax has spun-off of Certegy Inc., created Equifax Personal Solutions and grown businesses in both the United Kingdom and Latin America.
Prior to being named chairman and CEO, Chapman served as Equifax president and CEO. In August 1997, Chapman was elected president and chief operating officer. In January 1998, he was elected CEO. He joined Equifax in 1990 as corporate senior vice president, and in early 1993 was elected executive vice president.
Indus cuts 70 jobs
Atlanta-based Indus International Inc. cut 70 jobs as part of its efforts to reduce operating expenses and enhance cash flow.
Indus International will record a restructuring charge of up to $1.8 million during the third quarter. The company is eliminating certain professional services personnel as part of its plans to partner with systems integrators, reallocate resources to higher growth products and markets and consolidate all North American accounting functions in the company’s Atlanta headquarters.
Indus provides service delivery management software.
EMS dumps Ernst & Young
EMS Technologies has dismissed Ernst & Young LLP (E&Y) as auditor of the financial statements of the company’s Canadian subsidiary, EMS Technologies Canada Ltd.
Atlanta-based EMS Technologies (Nasdaq: ELMG) has asked principal independent auditor, KPMG LLP, to expand the scope of its audit activities to include the financial statements of its Canadian subsidiary.
In a filing to the Securities and Exchange Commission, EMS said it made the decision to reduce the complexity and cost related to the use of two accounting firms to conduct the company’s annual audit, as well as in consideration of the extensive, tax-related non-audit services for which the company expects to continue to engage E&Y in Canada.
Optio Software buys VertiSoft Corp.
Atlanta-based Option Software recently bought Roswell-based VertiSoft Corp.The purchase price included approximately $350,000 in cash, 1.5 million shares of Optio common stock and assumption of VertiSoft’s existing debt.
This acquisition broadens Optio’s portfolio of integrated health-care software, adds health-care expertise and establishes a subscription-based licensing model for a new line of software, the Optio QuickRecord Suite.
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