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ATLANTA (BUSINESS WIRE) –
November 21, 2006) -
Verso Technologies, Inc.
(Nasdaq: VRSO), a global provider of next
generation network solutions, announced today an expansion of its
Professional Services Group (PSG) focused on partnering with carriers to
reduce the complexities and challenges associated with network integration
when building world-class next generation networks (NGN). The expansion
builds upon the foundation of the PSG, which Verso acquired as a result of
the June 2006
acquisition of Verilink.
Professional services consist of outsourcing some aspect of the network's
operations function to a third party provider such as Verso Technologies,
whether on an ongoing or project basis, in order to add new services or
capabilities. Managed services consist of the practice of outsourcing some
or all of a carrier's day-to-day network management responsibilities to
reduce operating expenses and improve cash flow while streamlining
operations and improving cost structure.
PSG is staffed by an experienced PMP(R)-certified team that delivers
professional and managed services backed by the skills and tools of a
seasoned team. The Group adheres to the Six Sigma approach, a disciplined,
data-driven methodology that effectively eliminates defects and failures at
all stages of the product and service cycle.
The PSG offering consists of five programs which include: Business Process
Engineering, Design Consulting, Technical Delivery Services, Technical
Operations Services, and Training. Programs may be purchased on an as-needed
or bundled services basis depending on a customer's business needs.
Services offered include project management consultation, product
maintenance, replacement and/or inventory management as well as installation
and training support. Specifically, PSG oversees and manages professional,
managed, deployment and maintenance services, and customer premise
operations -- all through a highly disciplined and structured Project
Management Office (PMO). Employing state-of-the-art performance reporting,
the PMO generates service metrics as well as product reporting to assist in
developing new operational procedures to expand market share.
Today, carriers are faced with increased pressure to control capital and
operating expenses, while managing network capacity, rapid technology
changes and new service introductions. This has created an environment in
which an increasing number of service providers require outsourcing as a
solution. According to InfoTech, the North American managed services market
is expected to grow from $47.3 billion in 2005 to $87.5 billion in 2011, a
compounded average growth rate (CAGR) of 10 percent. Globally, the market
for managed services topped $129.7 billion in 2005 and is projected to reach
$252 billion in 2011 with a CAGR of 12 percent.
"The professional services market is a significant opportunity and is
expected to grow significantly," said Monty Bannerman, chief executive
officer, Verso Technologies. "The PSG, with its Tier-1 base, enables us to
begin offering professional and managed services across the globe. It also
provides Verso a substantial and ongoing revenue stream which is a variation
on our existing business model," Bannerman added. "We intend to capitalize
on the growing managed services market by marketing our services to carriers
worldwide via our existing channels including direct and indirect sales."
PSG will be led by Senior Vice President of Services Worldwide, David
Waters. "Carriers no longer purchase complex network equipment, strictly
relying on internal resources and expertise to deploy and implement," said
Waters. "Aiming for integrated services, carriers seek partners who can
efficiently integrate new equipment so they can quickly enhance services
while maintaining control over the bottom line. With PSG Verso can now
deliver complete end-to-end services and enhance any customer's network,
enabling them to quickly deploy and better manage their networks," he said.
About Verso Technologies
Verso is a global provider of next generation network solutions offering a
core-to-edge product portfolio primarily for telecommunications service
providers. The company's products enable its customers to secure and
optimize network bandwidth, generate additional revenue and reduce costs.
Verso's applications and services are cost effective, deploy quickly and
provide a superior return on investment. For more information, contact Verso
at www.verso.com or call 678.589.3500.
CONTACT: Verso Technologies, Inc., Atlanta
Media Relations & Investor Contact:
Christine Puleo, 786-385-8762
Director, Public Relations
Christine.Puleo@verso.com
SOURCE: Verso Technologies, Inc.
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