TMCnet News
Midas Medici Acquires Assets of Energy Hedge Fund Center, LLCNEW YORK and BRNO, Czech Republic, June 9, 2011 /PRNewswire via COMTEX/ -- Midas Medici Group Holdings, Inc. ("Midas") (OTCBB: MMED), an innovative green IT company in the fields of virtualization, cloud computing and data management, as well as Smart Grid solutions, today announced that its Czech Republic-based CommodityPoint business has acquired the assets of Energy Hedge Fund Center, LLC ("EHFC"), a web portal and community for clients interested in hedge funds in the energy and commodity sectors. The acquisition of EHFC by CommodityPoint was officially consummated on June 8, 2011. EHFC has been historically quite active with approximately 10,000 unique visitors, a community of 1,400+ members and a newsletter with 1,300+ subscribers. Clients include: hedge funds, investment banks, institutional and private investors, energy companies, educational institutions, government, consultants and the media. "I am pleased to announce the acquisition of assets belonging to EHFC," stated Nana Baffour, CEO and Co-Founder of Midas. "For Midas, EHFC represents an opportunity to establish a brand and reputation in the financial community side of the energy and commodities trading sectors. Through our Czech Republic-based CommodityPoint business, we believe we can successfully leverage current products and services into this community and also penetrate the environmental side of energy as well. In addition, utilizing Midas' expertise in IT infrastructure and deployment we can impact how the data is managed, stored, delivered and presented in order to substantially enhance the value of our EHFC acquisition." EHFC drew attention to the interest in energy and commodity funds with its definitive sponsored research on hedge funds in energy in 2004 and the book 'Energy and Environmental Hedge Funds: The New Investment Paradigm' (Wiley, 2006). It has continued this research ever since. Principals Gary M. Vasey and Peter C. Fusaro have extensive expertise in energy and energy related market development, risk management and commodities trading, as it relates to energy and 'green' energy-related plays. The two have spoken at numerous conferences and given many online seminars. Additionally, they maintain the EHFC Energy Hedge Fund Directory and produced a second report on hedge funds in energy in January 2005. They are also the editors of Energy Hedge, an online newsletter. "Having co-founded EHFC in 2004 and now leading CommodityPoint as principal analyst, I am intimately familiar with both businesses and believe that it is the perfect time to leverage the strong online community that's been built over the years at EHFC into the CommodityPoint brand," said Dr. Gary M. Vasey, Managing Director of CommodityPoint. "With record high prices for most commodities and the advent of new commodity exchange traded instruments, the commodities sector has become an attractive and uncorrelated asset class for investors. The resulting increase in demand for data, information and education in the commodity sector creates a substantial opportunity for Midas and CommodityPoint as we seek to expand the services offered at EHFC to meet the growing need for information surrounding these sectors." CommodityPoint is the foremost analyst firm covering global wholesale commodity market technologies and is a division of Midas Medici's UtiliPoint brand. Dr. Gary M. Vasey is the principal analyst and Co-Founder of CommodityPoint and brings years of practical experience to his role. With offices in Europe and the United States, and backed by an experienced research team, CommodityPoint provides a unique view of the utilities and commodities marketplace. About Midas Medici Group Holdings, Inc. Midas Medici Group Holdings, Inc. (OTCBB: MMED) is a green IT company that supplies mid-sized and select enterprises and institutions with leading-edge IT solutions in the fields of virtualization, cloud computing and data management, as well as working with utilities and other institutions to transform the electric grid through digital technologies. Across its Consonus and UtiliPoint brands, Midas works with its customers by optimizing IT and data center investments, cutting energy usage and preventing data loss, all while maximizing productivity. Through a management team with decades of experience, Midas is positioning itself to take advantage of the high-growth IT industry through its unique specialized services at the intersection of energy and technology. For comprehensive investor relations material, including fact sheets, presentations conference calls and video, please follow the appropriate link: Investor Presentation, Investor Portal and Overview Video. For more information on Midas Medici, please visit: www.midasmedici.com. Safe Harbor Statement This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the Company's business and operations; business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. Company Contact:Johnson KachidzaChief Financial Officer212-792-0920 Investor Contact:Trilogy Capital PartnersDarren Minton, PresidentToll-free: [email protected] SOURCE Midas Medici Group Holdings, Inc. |