Magenta netLogic and Capital Growth Systems announce BDA

Magenta netLogic Ltd, world leaders in network pricing and optimisation, today announced that they have entered a Business Development Agreement with US Capital Growth Systems Inc (OTCBB: CGSY). The agreement allows the company to utilize Magenta’s proprietary software and services to provide a comprehensive supply chain management solution to customers in provisioning of telecommunications connectivity.
Patrick Shutt, CEO of Magenta, said:
“We are delighted to have worked with Tom Hudson and his colleagues to execute this, the second such agreement we have with a US solutions provider. This comes at a critical moment in our company’s growth and it will enable us better to take advantage of the wealth of opportunities that our capability has created in the current, still largely dysfunctional, global market.”
Tom Hudson, CEO of CGSY commented:
“The managed networks market is a very large, growing industry; of which a subset, VOIP is expected to double in 2006 to about $10 billion, in Europe alone. Companies have needs for local access, end-to-end circuits between cities, as well as diverse corporate VPN’s for mission critical applications. It is complex for companies today to build solutions themselves across multiple carriers and geographies. Having Magenta as a strategic business partner will help us to do this efficiently and cost effectively for our clients.”

He added:
“I have firsthand experience with Magenta and value their leadership and assistance. At a former company, we created a unit, involving Magenta, for providing end-to-end solutions for SAN/WAN applications for Global 1000 companies. In just 18 months, it became one of the fastest growing and most profitable business units.”


Editors note:

Magenta netLogic Ltd is based in Salford UK, Chicago, Austin and New York. The company is a wholly owned subsidiary of 20/20 Technologies Inc.