PRINCETON, N.J., Dec. 27, 2017 /PRNewswire/ -- AMERI
Holdings, Inc. ("Ameri100" or the "Company") (NASDAQ: AMRH), a
specialized SAP® cloud, digital and enterprise services company,
today announced the promotion of Brent
Kelton, Executive Vice President of Business Development, to
Chief Executive Officer effective immediately. Kelton succeeds
Giri Devanur, President, CEO and
Board Member.
Kelton, who joined the Company at the beginning of 2017 with its
acquisition of ATCG, is an accomplished industry veteran with
strong experience in management consulting, corporate strategy and
business development in the information technology services
industry with a focus on large, SAP business transformation
projects. As CEO, Kelton will be responsible for customer
engagement and revenue growth under a unified Ameri100 brand
operating across all global locations.
Dev Nidhi, Founder and Executive Vice Chairman, stated, "Brent's
strong leadership, deep SAP ecosystem experience and relentless
focus on increasing sales and delivering solutions in the growing
SAP cloud services market makes him the ideal choice for the next
phase of Ameri100's growth."
"I am pleased to have Brent step into the CEO role to transform
the way we drive innovations with our customers," said Jeffrey
E. Eberwein, Chairman of the Board. "I would also like to very much
thank Giri for his contributions in getting Ameri100 to its current
stage and wish him the best in his future endeavors."
Mr. Kelton stated, "It is an exciting time to assume leadership
of Ameri100 as we move to empower enterprises to transform their
businesses through the implementation of cloud delivery services to
gain top-line growth and operational efficiencies. Through the
integration of numerous acquisitions, the Company has built a
platform that puts it in a very strong position to secure
opportunities in the growing SAP cloud market."
Kelton's experience includes building, scaling and growing
enterprises dedicated to full lifecycle projects for large and
complex organizations. He previously led Fujitsu's North American
SAP business unit and KPIT Technologies Limited's SAP Strategic
Business Unit, the latter where he grew the company to over 1,600
employees globally with annual revenues of $125 million. He has also held leadership
positions at several technology service providers focused on
implementation services and support of SAP solutions. Kelton holds
a Bachelor of Science degree in Business Analysis and Management
Information Systems from Texas A & M
University.
Reaffirming 2018 Financial Target for Adjusted EBITDA
Profitability
In conjunction with the promotion of Brent Kelton to the position of Chief Executive
Officer, the Company announced the integration of its Sales and
Solutions functions to achieve sharper commercial focus and drive
value creation for its customers.
This initiative, together with the recent completion of
streamlining and integration of Ameri100's acquired companies, is
expected to result in approximately $2.5
million in cash savings on an annual basis in 2018. This is
expected to result in a 25% reduction in Selling, Marketing,
General and Administrative expenses compared to 2017. The Company
reaffirms its prior financial target for Adjusted EBITDA
profitability during the first-half of 2018.
About Ameri100
Ameri100 is a fast-growing specialized SAP® cloud, digital and
enterprise services company which provides SAP® services to
customers worldwide. Headquartered in Princeton, New Jersey, Ameri100 has offices in
the U.S. and Canada. The Company
also has global delivery centers in India. With its bespoke engagement model, the
Company delivers transformational value to its clients across
industry verticals. For further information, visit
www.ameri100.com.
Forward-Looking Statements
This press release includes forward-looking statements that
relate to the business and expected future events or future
performance of Ameri100 and involve known and unknown risks,
uncertainties and other factors that may cause its actual results,
levels of activity, performance or achievements to differ
materially from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. Words such as, but not limited to, "believe," "expect,"
"anticipate," "estimate," "intend," "plan," "targets," "likely,"
"will," "would," "could," and similar expressions or phrases
identify forward-looking statements. Forward-looking statements
include, but are not limited to, statements about Ameri100's
financial and growth projections as well as statements concerning
our plans, predictions, estimates, strategies, intentions, beliefs
and other information concerning our business and the markets in
which we operate. The future performance of Ameri100 may be
adversely affected by the following risks and uncertainties: the
level of market demand for our services, the highly-competitive
market for the types of services that we offer, market conditions
that could cause our customers to reduce their spending for our
services, our ability to create, acquire and build new businesses
and to grow our existing businesses, our ability to attract and
retain qualified personnel, currency fluctuations and market
conditions around the world, and other risks not specifically
mentioned herein but those that are common to industry. For a more
detailed discussion of these factors and risks, investors should
review Ameri100's reports on Form 10-K and other reports filed with
the Securities and Exchange Commission (the "SEC"), which can be
accessed through the SEC's website. Forward-looking statements in
this press release are based on management's beliefs and opinions
at the time the statements are made. All forward-looking statements
are qualified in their entirety by this cautionary statement, and
Ameri100 undertakes no duty to update this information to reflect
future events, information or circumstances.
Corporate Contact:
Viraj
Patel, Chief Financial Officer
(732) 243-9250
investorrelation@ameri100.com
Investor Relations Contact:
Jody Burfening/Sanjay M.
Hurry
LHA Investor Relations
(212) 838-3777
Ameri100@lhai.com
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SOURCE AMERI Holdings, Inc.