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March 15, 2005 i360technologies purchases Cantilever TechnologiesRESTON, Va., and WEST LAFAYETTE, Ind. – i360technologies today (Tuesday, March 15) announced it has entered into an agreement to purchase Cantilever Technologies LLC, a West Lafayette, Ind.-based software development and consulting company. As part of the purchase agreement with the Reston, VA-based firm, Cantilever will retain its company name as well as offices at Purdue Research Park near Purdue University, where it began operations five years ago. i360technologies (i360) is a leading Oracle® E-Business Suite integrator. Cantilever's Readiness Engine® software, which helps companies handle exceptions to standard customer and supplier transactions, provides added value to Oracle® customers. "Cantilever brings innovative technology which complements i360's Oracle® integration services," said Michael Meyer, i360's chairman and CEO. "We look forward to continuing to serve Cantilever's customers and increasing i360's presence in the Midwest as we continue our growth as a nationwide professional services firm." Cantilever serves Fortune 500 customers including Cummins Inc., Brunswick Bowling & Billiards, Kohler Co., and Lockheed Martin Corp. i360's customers include the Office of Federal Housing Enterprise Oversight, the National Endowment for the Humanities, the National Aeronautics and Space Administration, the National Oceanic and Atmospheric Administration, General Parts Inc. and Converge LLC. "As with Cantilever, i360 has a strong reputation for high-quality delivery, customer satisfaction and repeat business. We are delighted to join i360's team, while still maintaining a presence at Purdue Research Park," said Julie Goonewardene, Cantilever's president and CEO. Purdue Research Park is home to the highest concentration of technology companies in Indiana and was recognized by the Association of University Research Parks as the nation's top research park for 2004. About i360technologies Established in March of 2001, the Reston, Va.-based i360technologies (i360) is a leading Oracle® Financials integrator for Federal Government agencies and implements the full range of Oracle® E-Business Suite software for its Fortune 500 customers, including financials, supply chain, and CRM. A certified Oracle® Solution Provider, i360 has the proven capability to implement, upgrade, and support the Oracle® E-Business Suite. About Cantilever Technologies LLC Founded in 1999, the West Lafayette, Ind.-based Cantilever Technologies LLC provides its customers with cost-effective, real-time decision management solutions. The company's software — the Readiness Engine® — helps companies to analyze, understand and resolve problems related to everyday exceptions to standard customer and supplier transactions. Cantilever's customers have generated significant savings in multiple business functions, including warranty, inventory, accounts receivable and accounts payable. Contacts: Michael Meyer, i360technologies, (703) 476-4100, mmeyer@i360technologies.com Julie Goonewardene, Cantilever Technologies LLC, (765) 775-4552, jgoonewardene@cantilevertech.com |
