xRM Global Launches xRM High Touch-High Trust Utility in the Middle East
May 05 2010 - 8:23AM
Marketwired
xRM Global Inc. ("xRM Global") (TSX VENTURE: XRM) is a
Software-as-a-Service (SaaS) solutions provider that empowers
enterprises to use intelligence generated from business television
and the Social web to create and manage high-trust relationships
within the Wealth Management and Insurance sectors.
xRM Global is pleased to announce the execution of a Strategic
Master Reseller Agreement with 5M Technologies WLL ("5M"). 5M will
act as xRM Global's exclusive regional distributor in the Middle
East and North Africa (MENA).
"This launch furthers the Company's global growth strategy,
providing local support for our enterprise customers across the
MENA region" said Gary Bartholomew, CEO of xRM Global. "This
strategic alliance with 5M Technologies is extremely valuable as
they have the resources to reach the large enterprise customers
directly. Our selection process reviewed several strong regional
candidates. 5M had the balanced mix of direct, channel, global
vendor expertise and knowledge of key accounts that we look for in
a partner. In the end, it was the 5M team's ability to align with
our corporate vision and their commitment to results that was
superior to the other candidates. We are confident that this
partnership will be a major success."
Under the terms of this agreement, 5M has regional growth
targets in place with an execution plan focused on profitable
expansion into the key markets of Kuwait, United Arab Emirates,
Saudi Arabia, Egypt, Qatar, Jordan, Lebanon and others.
The regional target forecast is for 4,800 seats within 12
Enterprise customer accounts. The early qualification of lead
customers and opportunities will enable the necessary modifications
to ensure rapid uptake in this market. Further, with their depth of
channel experience, 5M have identified eight to ten third-party
VARs who will be sub-licensed to expand their regional
coverage.
Once in place, the network of Master Reseller and VARs will
provide extensive coverage to the region and will serve as the
launch platform for additional products which are currently in
development. Product will range in price from $40 to $200/month per
seat. The potential contract revenue of the current opportunities
in xRM Global's MENA pipeline is in excess of $US10M annually.
"xRM Global's High Touch - High Trust Utility and its Wealth
Intelligence and Insurance solutions are exactly what our
enterprise customers are looking for." stated Mr. Abdulaziz Al
Abdullah, CEO of 5M Technologies. "We see great potential to
enhance our offering and grow our company with xRM Global's
innovative products."
ABOUT 5M Technologies WLL
5M Technologies WLL ("5M") is a privately-held systems
integrator and technology distributor with extensive experience
throughout the MENA Region. Their mission is to deliver innovative
information technology solutions to corporate customers through a
network of partners and suppliers. They deliver best practice
focused solutions that span infrastructure, engineering and
application delivery. 5M Technologies, in conjunction with its
partners, form a powerful technology distribution company in Kuwait
and MENA providing suppliers with access to markets and customers
with their end-to-end business solutions. 5M Technologies'
expertise, together with their suppliers and partners, deliver a
range of effective and efficient solutions that enable customers to
focus on their core business while reducing their costs. 5M
Technologies is targeting the over 40,000 corporate customers in
MENA with a range of products and solutions that include cloud
technologies and hosted applications. 5M Technologies' commitment
to its shareholders and partners is to help their clients achieve
business gains through cost-effective, standards-based solutions
that leverage existing IT assets.
About xRM Global Inc.
xRM Global empowers enterprises with on-demand, relationship
management (RM) solutions that monitor business TV and the social
web to extract intelligence relevant to their client's needs.
Financial professionals use this intelligence to enhance their
client relationships with more frequent touch points, sharing
unique, relevant insights with their clients.
The xRM Utility platform and RM applications are changing the
way Wealth Management and Insurance companies communicate with
their customers, including:
-- Ockham Research, global stock intelligence for individuals
-- WealthRazor, global stock intelligence for wealth advisors
-- xRM Wealth, relationship intelligence for wealth management practices
-- xRM Insurance, relationship management for the insurance sector
-- xRM Connect, CRM for sales and delivery channels
-- Private Labelling, stock intelligence branded by Financial Services
enterprises
The company has offices in Canada, the U.S.A, MENA and Brazil.
Additional information about xRM Global can be found at
www.xrmglobal.com and at www.sedar.com.
Forward-looking Statements: This news release includes certain
forward-looking statements within the meaning of Canadian
securities laws. Forward-looking statements involve risks,
uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed in such forward-looking statements. Forward-looking
statements in this news release include, but are not limited to,
economic performance and future plans and objectives of xRM Global.
Any number of important factors could cause actual results to
differ materially from these forward-looking statements. Although
xRM Global believes that the assumptions and factors used in making
these forward-looking statements are reasonable, undue reliance
should not be placed on these statements, which only apply as of
the date of this news release, and no assurance can be given that
any such events will occur in the disclosed timeframes or at all.
xRM Global disclaims any intention or obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: xRM Global Inc. Gary Bartholomew, Chairman & CEO
Canada: 416-900-2925 x 110 US: 678-534-7335 x 110 Brazil:
55-11-3957 1802 x 110 gbartholomew@xrmglobal.com xRM Global Inc.
Paige Gaudette Canada: 416-900-2925 x 112 US: 678-534-7335 x 112
Brazil: 55-11-3957 1802 x 112 pgaudette@xrmglobal.com
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