MALTON, England, Feb. 14, 2008 (PRIME NEWSWIRE) -- Propalms, Inc. (Pink Sheets:PRPM) is pleased to announce that the Company has signed a LOI to purchase worldwide IP rights and source code of a Virtual Private Network (VPN) solution. The product will be able to be sold as an individual application for enterprises that already have server-based computing, which opens up new multimillion dollar opportunities for Propalms. The IP VPN market is expected to grow to over $5.8 Billion in 2009, according to ZDNet Research.
Propalms VPN will provide secure remote access for small to large enterprises without any restrictions on the amount of users logging in remotely. Since applications are managed centrally by Propalms VPN, operational costs are reduced and network security is improved. Typically, development of this software product would take two years and cost over $2 million; however, Propalms intends to acquire the finished product and the intellectual property from a software development company in India. This will allow Propalms to release the product to market in the first half of 2008.
"This new opportunity has the potential to generate substantial revenue for the Company and we are extremely excited about the prospects that it holds for our customers and our shareholders. This product will allow any number of users to remotely access their applications, which will enable companies to run more efficiently and cut down on their operational costs," stated Owen Dukes, CEO of Propalms, Inc.
Propalms recently announced that the Company will be entering the desktop virtualization market in 2008 with the launch of its Virtual Desktop Manager technology within its new TSE product.
About Propalms, Inc.:
Propalms TSE, the complete Server-Based Management solution that extends Microsoft Terminal Services 2000/2003, offers features such as Application Publishing, Seamless Windows, Resource-based Load balancing, and Web-based management consoles.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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