March 10, 2011
NEW YORK, NY., March 10, 2011 -- Zolon Corporation (OTCBB: ZLON) announced that the Company has signed an agreement with EXIS Consulting to license and upgrade the GENESIS Capital Markets technology platform and provide a new, Cloud-based service for banks, investment funds and asset managers worldwide.
EXIS Consulting Inc, a New York-based corporation, has provided advanced bond and loan trading capabilities to over 50 top global financial firms over the last two decades. It pioneered the first system to manage the Emerging Markets trading business, which developed into a cross-asset platform for debt securities, including bonds, loans and CDS trading. Zolon has been in discussions with EXIS since December 2010 to license EXIS' proprietary technology platform with an intent to broaden and enhance its IT solutions and capabilities. This initiative will help scale the Genesis product and launch a Cloud-based service to its existing clients as well as reach new clients. The product will be targeted to a wide market of financial institutions and funds.
Zolon Corporation is a Florida-based corporation with a primary focus on IT services in the Financial, Health and Telecom sectors. It's Chairman, Dhru Desai, said "... Genesis is a strategic technology acquisition we made earlier with an intent to expand our solutions beyond consulting. We look forward to leveraging our global development resources and global delivery model to accelerate this program and launch our first cloud service."
Kuppu Sitaraman, now the Vice President of Zolon's Financial Services Practice, said "We are pleased and excited with this partnership. Having completed the integration work with Zolon, we are now ready to provide our current clients a new and enhanced product with all of the benefits of Cloud-hosted SaaS service model. SaaS deployments allow clients and their IT staff to focus on their core business without the overhead of application maintenance, backups and upgrades. It will also provide an affordable alternative to smaller clients."
About Zolon Corporation
Zolon Corporation is presently focused in the Information Technology (IT) and Software enabled service areas which it has begun to enter through a series of strategic business combinations. The Company intends to target companies in the Financial Services, Health Care and Telecom sectors to create a diversified portfolio. The Company continues to actively pursue and negotiate for business acquisitions and/or combination opportunities with several targets and intends to consummate transactions in the near future to further execute our business strategy.
Source: Zolon Corporation
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