Zolon Corporation announced that the Company has signed an agreement with EXIS Consulting to license and upgrade the GENESIS Capital Markets technology platform and provide a new, Cloud-based service for banks, investment funds and asset managers worldwide.
EXIS Consulting Inc, a New York-based corporation, has provided advanced bond and loan trading capabilities to over 50 top global financial firms over the last two decades. It pioneered the first system to manage the Emerging Markets trading business, which developed into a cross-asset platform for debt securities, including bonds, loans and CDS trading. Zolon has been in discussions with EXIS since December 2010 to license EXIS' proprietary technology platform with an intent to broaden and enhance its IT solutions and capabilities. This initiative will help scale the Genesis product and launch a Cloud-based service to its existing clients as well as reach new clients. The product will be targeted to a wide market of financial institutions and funds.
Zolon Corporation is a Florida-based corporation with a primary focus on IT services in the Financial, Health and Telecom sectors. It's Chairman, Dhru Desai, said "... Genesis is a strategic technology acquisition we made earlier with an intent to expand our solutions beyond consulting. We look forward to leveraging our global development resources and global delivery model to accelerate this program and launch our first cloud service."
Kuppu Sitaraman, now the Vice President of Zolon's Financial Services Practice, said "We are pleased and excited with this partnership. Having completed the integration work with Zolon, we are now ready to provide our current clients a new and enhanced product with all of the benefits of Cloud-hosted SaaS service model. SaaS deployments allow clients and their IT staff to focus on their core business without the overhead of application maintenance, backups and upgrades. It will also provide an affordable alternative to smaller clients."
About Zolon Corporation
Zolon Corporation (zoloncorp.com) is presently focused in the Information Technology (IT) and Software enabled service areas which it has begun to enter through a series of strategic business combinations. The Company intends to target companies in the Financial Services, Health Care and Telecom sectors to create a diversified portfolio. The Company continues to actively pursue and negotiate for business acquisitions and/or combination opportunities with several targets and intends to consummate transactions in the near future to further execute our business strategy.
Forward-Looking Statements This release contains forward-looking statements which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipate," "expects," "estimates," and similar expressions) should be considered to be forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as each is amended, for which the Private Securities Litigation Reform Act of 1995 provides a safe harbor. Certain factors (including but not limited to those risk factors identified from time to time in our filings with the Securities and Exchange Commission as well as changes in economic conditions; outcome of negotiations; changes in the Company's access to necessary capital; outcome of litigation; volatility of capital markets; variability and timing of business opportunities; changes in accounting policies and practices; the effects of internal organizational changes; adverse state and federal regulation and legislation; and the occurrence of extraordinary or catastrophic events and terrorist acts; or other unforeseen changes in circumstances) could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.