Business
IP Applications Corp. New Product Launch and Business Update
VANCOUVER, Feb. 28 /CNW/ - IP Applications Corp. (TSX-V: IPX) wishes to update investors on the C...
About this update from Santa Rosa Resources Corp.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Feb. 28 /CNW/ - IP Applications Corp. (TSX-V: IPX) wishes to\nupdate investors on the Company's activities to February 2008.\n\n\nProduct Launch\n\n\nIP Applications recently launched a new automation product suite aimed at\nenterprise software companies entering the Software-as-a-Service ("SaaS")\nmarket. The market research firm Gartner, Inc. has forecast an annual growth\nrate of 22.1% for SaaS product demand, more than double the growth rate of the\nenterprise software market as a whole. IP Applications' core technology\nshortens the time-to-market and lowers costs for enterprise software companies\nre-releasing their existing software through SaaS subscription marketing.\n\n\nIP Applications updated its corporate website (www.ipapplications.com)\nand launched a new product-specific website highlighting its SaaS Automation\nproducts (www.SaaSAutomation.com). The Company expects to produce and deliver\nmost of the SaaS Automation services in conjunction with hosting companies and\nother technology partners. IP Applications has ongoing discussions with\npotential partners and customers, and will be attending three SaaS industry\nspecific events in 2008. More details are on the www.SaaSAutomation.com\nwebsite.\n\n\nJohn Jacobson, President and CEO said "2008 is the year of the SaaS\nAutomation launch. During 2007 we were successful at stabilizing the business,\nnotwithstanding the decline in value of the US dollar. This enabled us to roll\nout a product for the new and fast-growing market in SaaS Automation."\n\n\nBusiness Operations:\n\n\nDuring the first three quarters of 2007, the Company achieved effective\nbreak-even on EBITDA, a significant improvement over the $0.28M EBITDA loss\nduring the nine months of 2006 and even greater improvement over the\n$1.4M EBITDA loss in 2005.\n\n\nDuring the first six weeks of 2008, the Company completed two important\nmilestones in the payment processing sector of its business. It achieved\ncertification to Payment Card Industry Data Security Standard ("PCI-DSS")\nstandards and it completed the implementation of a new transaction interface\nto the Canadian and US banking systems. IP Applications now processes all of\nits customers' payments through its own PCI-DSS compliant data center,\nimproving both cost and quality performance.\n\n\nIn...