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Trey Resources Signs Business Partner Agreement With Global eXchange Services
Leading B2B Solutions Provider Operates Global Network Enabling More Than 30,000 Businesses to Conduct Electronic Transactions in Real Time LIVINGSTON, N.J. - PRNewswire-FirstCall - Aug. 19
LIVINGSTON, N.J., Aug. 19 /PRNewswire-FirstCall/ -- Trey Resources, Inc. (BULLETIN BOARD: TYRIA) announced today that the company's wholly owned subsidiary SWK Technologies, Inc. has signed a business partner agreement with Global eXchange Services (GXS).
GXS is a leading worldwide provider of business-to-business integration, synchronization and collaboration solutions. The company operates a secure global network services platform, enabling more than 30,000 businesses, including over half of the Fortune 500, to conduct business together in real time.
The new agreement gives SWK Technologies the right to remarket the network services platform to its customers, who will now have access to a secure communications environment and a host of value-added services, including real- time reporting and partner and transaction management tools.
Trey CEO Mark Meller said, "Our new partnership with GXS is a boost to SWK in several important ways. The ability to offer and sell access to GXS's proprietary network provides our sales force with a new product offering and gives the company a promising new profit center."
Jeffrey Roth, CEO of SWK Technologies, said, "GXS is a recognized leader in its field. The ability to remarket their network is a significant growth opportunity for SWK. We continue to put the pieces in place to enable SWK to provide a turn-key EDI solution for our customers."
"Partnering with companies like SWK Technologies will significantly extend our reach into the small and medium business market space," said Bobby Patrick, senior vice president of marketing for Global eXchange Services. "By combining SWK's highly regarded product with GXS' suite of services, these customers will be able to share the efficiencies and cost-savings that larger companies have been enjoying for years."
In June 2002, GXS was acquired by Francisco Partners from General Electric Company (GE) and now operates as an independent firm. Francisco Partners is one of the world's largest technology-focused buyout funds, with over $2.5 billion of committed capital under management.
SWK Technologies' MAPADOC EDI solution is a fully integrated electronic data interchange (EDI) solution that provides users of Best Software's market- leading MAS family of accounting software products a feature-rich product that is easy to use. MAPADOC provides the user with dramatically decreased data entry time, elimination of redundant steps, paper and postage costs, the reduction of time spent typing, signing, checking and approving documents, and the ability to self-manage EDI and to provide a level of independence that saves time and money.
About Global eXchange Services
GXS operates one of the largest B2B e-commerce networks in the world, managing one billion transactions annually for more than 100,000 trading partners. With more than 35 years' experience, GXS provides supply-chain services and software to 60% of Fortune 500 companies. GXS is headquartered in Gaithersburg, MD. More information about the company can be obtained by calling (800) 560-4347 or visiting the website
http://www.gxs.com/ .
About Trey Resources
Trey Resources is involved in the acquisition and build-out of technology and software companies. The company's growth strategy is to acquire firms in this extensive and expanding but highly fragmented segment as it seeks to create substantial value for shareholders. Trey was incorporated in Delaware in October 2002 as a wholly owned subsidiary of iVoice, Inc. (BULLETIN BOARD: IVOC) . The company was spun off from iVoice in February 2004 as a cashless dividend to iVoice shareholders. In June 2004, Trey acquired SWK Technologies, a New Jersey-based company, for 2,750,000 shares of Trey Class A Common Stock. For more information on Trey Resources, please visit
http://www.treyresources.com/ .
About SWK Technologies
SWK is the company's initial platform acquisition and is currently Trey's principal operating unit. SWK is an information technology services and software company with revenue in excess of $2 million for each of the past two years. The company is a value-added reseller and master developer of Best Software's category-leading MAS 90, MAS 200 and MAS 500 accounting software. SWK also is publisher of the award-winning MAPADOC EDI integrated solution, which is used seamlessly with MAS 90 and MAS 200. EDI is widely accepted as a key component to a full supply-side systems solution. Trey's focus is to build SWK through both internal growth and by acquisitions. Trey expects to make the necessary investments to continue to build SWK's sales organization and to support new product development. Trey intends to make SWK the dominant company in its field. As part of its plan to expand into new markets, Trey has focused on the business software and information technology consulting market and is looking to acquire other companies in these expanding but highly fragmented industries.
A profile for investors on Trey Resources may be found at the website
http://www.hawkassociates.com/trey/profile.htm .
An online investor kit containing Trey press releases, SEC filings, current price Level II quotes, interactive Java stock charts and other useful information for investors can be found at
http://www.hawkassociates.com/ and
http://www.hawkmicrocaps.com/ . Investors may contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383, email:
info@hawkassociates.com.
This news release includes 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, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Trey Resources, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
Trey Resources, Inc.
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