Furthermore, the resulting drilling data acquisition system meets the specific requirements of the Canadian marketplace and also meets many of the requirements of the US and world markets. This agreement enables both companies to sell the combined product into all of these markets
Edmonton, AB (PRWEB) July 19, 2009
Edmonton-based satellite telecommunications company, Virgin Technologies Inc., and Calgary-based instrumentation company, RigManager Services Inc., announced today the signing of a Strategic Alliance Agreement which aims at strengthening the relationship between the two companies and their complimentary products.
The Agreement sets out the framework for a strategic alliance that would allow the two companies to cross-market one another's products and services throughout the global marketplace. RigManager has an electronic data recorder (EDR) and Web Portal for rig data analysis. Virgin Technologies has an iDIRECT satellite backbone that supports and transports RigManager's EDR and Web Portal products. The resulting drilling data acquisition system introduces a viable, high quality alternative to the competition- something that has been greatly lacking in the market.
"I am confident that this new partnership between RigManager and Virgin Technologies will enable our companies to work closely together to develop and refine a highly competitive drilling data acquisition system. There is currently very little choice in the market for Canadian oil producers when it comes to EDRs and the quality of the systems supporting that EDR. We are very excited about enabling choice in the market and leveling the playing field," said Robert Smibert, President of Virgin Technologies.
Virgin Technologies specializes in innovative satellite telecommunications solutions, typically used in VoIP telephone and fax services, secure VPN over satellite, remote site monitoring and data reporting, and secure mission critical communications. RigManager's EDR is exactly what Virgin Technologies' drilling customers have been demanding - a seamless fit with Virgin Technologies' VSAT satellites and iDIRECT network. RigManager's EDR not only provides near real-time drilling data through it's Web Portal, but it also has an ultra-modern, easy to use touch screen interface which fully supports Virgin Technologies' principles of finding innovative ways to make communication easy.
RigManager's President, Bob Webb, said the alliance between RigManager and Virgin Technologies is a natural fit. "The strength of our complimentary products, the demand from existing customers and our common interests in capitalizing on a market ready for change, justify the existing informal cooperation between our companies. This is now further reinforced and formalized in the Strategic Alliance Agreement," Webb said. "Furthermore, the resulting drilling data acquisition system meets the specific requirements of the Canadian marketplace and also meets many of the requirements of the US and world markets. This agreement enables both companies to sell the combined product into all of these markets," said Bob Webb, President of RigManager.
About Virgin Technologies:
Virgin Technologies was founded in 2001 and is based in Edmonton, Alberta. A leading provider of innovative satellite telecommunications solutions, Virgin Technologies services organizations, government agencies and professionals across North America. The Company provides industry specific satellite telecommunications and services such as voice, fax and VPN over satellite via its own iDIRECT satellite network. For more information please visit http://www.virgintechnologies.com.
About RigManager Services:
RMS manufactures and supplies oil and gas drilling rig monitoring and communications equipment to the oil and gas industry. RMS was started as RigManager Services in 2005 and was taken public as RMS Systems Inc. in 2008. The companies' premier product is an Electronic Drilling Recorder (EDR) that was first deployed in the commercial market in 2008 after three years of development. For more information please visit http://www.rigmanager.com.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although RMS Systems Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. RMS Systems Inc. disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise, except as required pursuant to applicable securities laws.
For additional information:
Virgin Technologies Inc.
jodie (at) virgintechnologies.com
RMS SYTEMS INC.
bwebb (at) rigmanager.com