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Hathaway Global's (HWYI) Wholly Owned Subsidiary OptiCon Systems, Inc. Strengthens Global Sales Strategy
Thursday February 15, 2007
Hathaway Corporation, a business development company that focuses on the development of companies in the communications, telecommunications software and medical devices industries, announced today that their wholly owned subsidiary OptiCon Systems, Inc. has strengthened and completed its global sales strategy now that their joint alliance with Anritsu Corporation of Japan (Anritsu) has been accomplished. This strategic partnership gives OptiCon the hardware capability to manage the Telecommunications Optical network while greatly enhancing OptiCon's sales capability through Anritsu's Global Sales Force. Anritsu currently has sales forces deployed in Asia, Europe, Africa, and the Middle East.
Paul D. Lisenby, Interim Chairman and CEO of Hathaway Global, explained, "The Anritsu alliance complements the already impressive OptiCon reseller strategies which have been implemented through OptiCon's existing relationships with Corning Cable Systems, Management Solutions International, Inc., and a variety of Telecommunications Engineering Consultant firms that focus on the smaller Independent Operating Companies throughout the States."
Anritsu is a $900 million (US) manufacturer, developer and vendor of a Remote Test Unit that tests the integrity of a telecommunications network and software which controls, monitors, and integrates with the test unit (the "Questfiber" software).
"A key component to the success of any young organization is the ability to sell and market your solution to a greater audience than your own direct sales force's abilities," stated Doug Wright, Senior Vice President of Sales at OptiCon. "Coupling the Anritsu sales force and other resellers with our direct sales organization will vastly benefit the revenue to cost of sales ratio while not sacrificing the effects of an indirect only operation. This approach was tested and proven by John Batton (OptiCon CEO) and myself during our successful operation at Lucent's Netcare Division where we grew revenue from $4 million to $450 million in less than four years."
Earlier this week, Hathaway Corporation announced that the company had finalized the Form 10 filing for OptiCon Systems, Inc. and that all Hathaway shareholders of record at the close of business on Monday, February 19, 2007 were eligible to receive the appropriate amount of shares in OptiCon based on the previously established rate of 1 share of Opticon for every 2 shares of Hathaway owned.
Hathaway Global continues to seek out and capitalize on emerging technologies that will change the way the world communicates. To request further information about Hathaway, please email us at .
About Hathaway Corporation
Hathaway Corporation develops and acquires undervalued companies that bring a shift in how communications are delivered and serviced globally. Hathaway continues to seek out and capitalize on emerging technologies. Their first acquisition, OptiCon Systems, was first developed by Corning and sold to their customers. Corning spent millions of dollars and over seven years developing the Fiber Optic Management System currently marketed and sold by OptiCon Systems Inc. OptiCon serves over 70% of the global 500 companies such as Adelphia, Charter, Comcast, Comcast/AT&T, Cox, Time Warner, and Bright House. Through companies like OptiCon and DDI, Hathaway brings the communication solutions of the future to today's business marketplace.
Safe Harbor
This release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 27E of the
Securities Act of 1934. Statements contained in this release that
are not historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are inherently
uncertain. Actual performance and results may differ materially from
that projected or suggested herein due to certain risks and uncertainties
including, without limitation, ability to obtain financing and regulatory
and shareholder approval for anticipated actions.
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