Zim Corporation purchases all technology assets of Torch
Technologies - enhances its database migration product and services
offering.
OTTAWA, Oct. 27
/PRNewswire-FirstCall/ - Zim Corporation (OTCBB: ZIMCF), a provider
of software products and services for the database and mobile
markets, today announced its acquisition of the technology assets
of Torch Technologies. Torch products are well known within Zim's
customer community for their Database Migration tools and have a
product portfolio that allows enterprise clients to rapidly and
cost effectively migrate and manage multiple database
platforms.
Torch's advanced portfolio of database migration and management
products will strengthen and complement Zim's enterprise database
products. The combined product portfolio will result in a robust
solution to rapidly and cost effectively migrate existing databases
to other industry databases including Oracle™ and SQL™ while
retaining valuable Zim applications and providing a simplified
database management suite. The new product portfolio will
strengthen Zim's solution offering for existing and new clients.
Deal terms of the acquisition were not disclosed.
"This acquisition is a strategic step in our overall enterprise
database product portfolio plans" said Dr. Michael Cowpland, President and CEO of Zim
Corporation, "We've been successfully working in partnership with
Torch Technologies for over a year. Their unique technology
offerings combined with Zim's enterprise database products and our
recently announced Gold Level partnership with Oracle are a natural
fit and will provide a powerful solution to meet the growing needs
of our enterprise clients. In addition, we'll invest further
R&D resources into Torch to expand the product suite and
increase its capabilities."
ABOUT Zim Corporation
ZIM is a provider of software products and services for the
database and mobile markets. ZIM products and services are used by
enterprises in the design, development and management of business,
database and mobile applications. Certain of ZIM's mobile products
are also provided to the consumer market. For more information on
ZIM and its customers, partners and products, visit:
www.zim.biz.
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, with respect to ZIM's
use of its cash from operations. All forward-looking statements
made in this press release relating to expectations about future
events or results are made as of, and are based upon information
available to ZIM as of, the date hereof. These
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
described or implied by any forward-looking statements. New risks
can arise and it is not possible for management to predict all such
risks, nor can it assess the impact of all such risks on our
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements. Given these risks and
uncertainties, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. All
forward-looking statements speak only as of the date of this news
release. We undertake no obligation to revise or update publicly
any forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this news release,
other than as required by law. Please refer to ZIM's filings with
the SEC for additional information regarding risks and
uncertainties. Copies of these filings are available through the
SEC's website at www.sec.gov.
SOURCE ZIM CORPORATION
Copyright . 27 PR Newswire
