GRCI signs $0.5 million VoIP distribution agreement with Complex Systems Inc
GrassRoots Communications, Inc. (GRCI), a subsidiary of Newport International Group, Inc. (OTCBB:NWPO) announces the signing of a licensing and distribution agreement with Complex Systems, Inc. (CSI), a privately held provider of banking software servicing major financial institutions throughout the world with office locations including New York, Paris, Amsterdam, Madrid, Bogota, Bangkok and Hong Kong.
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Under the terms of the agreement CSI will license GRC's Business edition, VOIP tools and remote collaboration software for use between its network of worldwide offices. CSI will also market the web based products as well as a proprietary secured server solution to its clients which include many leading financial institutions throughout the world. CSI will advance GRCI $500,000 in the form of a loan in advance of anticipated revenue which GRCI will derive from this agreement. CSI will begin funding the advance within the next 10 days.
GRCI will also help CSI in creating a 24/7 live virtual support center for its banking customers where sales and maintenance functions can be conducted in a secure, fully encrypted environment which will enable CSI to dramatically reduce travel costs and deployment time while increasing productivity and customer satisfaction for its banking software products. "We are extremely happy that CSI has chosen to partner with us for both usage and distribution of our products", commented Cery Perle CEO of Newport International, Inc and GRCI. "This agreement helps to give GRCI a sales presence in many key locations throughout the globe and validates the need for these applications in the challenging global environment of today."
CSI will begin using and marketing the products immediately. "We are delighted to have entered into this agreement with GRCI", commented Gad Janay, CEO of Complex Systems, Inc. "In these times where the costs and risks of worldwide travel are significantly higher, we at CSI believe that virtual conferencing along with remote collaboration and desktop tools represent a staggering opportunity. We are extremely excited about distributing this technology and our anticipated success as evidenced by our capital commitment to GRCI." CSI will also act as a beta site for later releases of GRCI's software including the soon to be released Pro Edition.