Propalms, Inc. Completes Acquisition of Leading Security Solution Company

Posted 5th May 2008

MALTON, UK--(PRIME NEWSWIRE)--March 5, 2008 -- Propalms, Inc. (OTCPK: PRPM) is pleased to announce that the Company has completed the acquisition of vFortress, a leading security solution company. The acquisition gives Propalms the rights to all vFortress customers and property; including the worldwide IP rights and source code of a Virtual Private Network (VPN) solution. The acquisition was an all cash transaction, which means there will be no dilution to the stock. Propalms expects Company sales to double within the next 24 months as a result of the acquisition and will rebrand the VPN product within two to three weeks.

Propalms will rename the product to “Propalms VPN.” Propalms VPN will be sold as an individual application for enterprises that already have server-based computing, which opens up new multimillion dollar opportunities for Propalms. According to ZDNet Research, the IP VPN market is expected to grow to over $5.8 Billion in 2009. Propalms VPN will also provide secure remote access for small to large enterprises without any restrictions on the amount of users logging in remotely, which will enable companies to run more efficiently and cut down on their operational costs.

“As we continue our worldwide expansion of Propalms product line, we expect to acquire more companies like vFortress as we strive to introduce new products to the market. Propalms VPN will not only further expand our customer base, but will open up additional revenue streams for Propalms to reflect a larger market share and will enable Propalms to compete with VMware, Microsoft and Citrix,” stated Owen Dukes, CEO of Propalms, Inc.