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Computer Software Innovations, Inc. (OTCBB: CSWI | Quote | Chart | News | PowerRating) closed at $3.85 Friday, trading 8,118 shares.
Company News- August 4, 2008: CSI Among Fastest Growing Solution Providers in U.S.
Earlier today the following was announced:
Impressive sales growth at Computer Software Innovations, Inc. ("CSI") (OTCBB: CSWI | Quote | Chart | News | PowerRating) has earned the company inclusion in CRN 2008 Fast Growth 100. CSI was recognized as the 38th fastest growing solution provider in the United States by generating a 122% increase over the past two years in reaching over $44 million in sales in its technology business unit.
"It's definitely an honor to be included in this prestigious industry ranking," said Nancy Hedrick CEO of CSI. "Our success is a testament to the CSI team. They have revised processes to both encourage and manage our expansion and acquisitions, refined our product and service mix, evaluated new vendors, found the best new hires, and set the expectation that together we can accomplish amazing goals." "For example, our ranking in the CRN 2008 Fast Growth 100 is based solely on our hardware technology sales. CRN excludes software sales in their selection process which in combination with technology pushes total company sales to over $55 million. A key reason we achieved such a high ranking based solely on technology sales is because our team created a comprehensive, multi-product connected classroom solution for the K12 vertical. They recruited the necessary vendors, developed promotion materials, restaged our event booth to showcase the solution, and brought their idea to market with absolutely phenomenal results." "One final thought that's very important," added Hedrick, "a special 'thank you' to our vendor partners. They too are an integral part of the CSI team." "The CRN Fast Growth 100 are the cream of the crop when it comes to Solution Providers who know how to wrap technology in world-class services offerings, and this year's group demonstrate that the technology channel is strong and growing," said Robert C. DeMarzo, senior vice president and editorial director for Everything Channel editorial. "Rank is based on two years' growth of net sales from calendar year 2005 to calendar year 2007. Net sales were verified by public filings when possible. All private companies provided a signed affidavit attesting to the accuracy of the reported 2005 and 2007 net sales figures or accountant-reviewed financials or audited financials. Affidavits were signed by an owner or officer of the company or by a CPA representing the company."
About Computer Software Innovations, Inc.
CSI provides software and technology solutions primarily to public sector markets. CSI has more than doubled its revenue in the past two years to over $55 million by using organic growth and acquisitions to fuel an aggressive expansion from its southeast base. Over 600 school, government, and non-profit organizations have CSI solutions that encompass financial management software specialized for the public sector, IT infrastructure, IP telephony, IP video surveillance, printing/imaging, and interactive classroom technologies. More information about CSI (OTCBB: CSWI | Quote | Chart | News | PowerRating) is available at www.csioutfitters.com.
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Cavium Networks (NASDAQ: CAVM | Quote | Chart | News | PowerRating) closed at $15.87 Friday, trading 463,800 shares.
Company News- August 4, 2008: Cavium Networks Completes Acquisition of Taiwan-Based Star Semiconductor
Cavium Networks (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for networking, communications, security and wireless applications, announced earlier today that they have completed their acquisition of certain assets and business of Star Semiconductor. In connection with the completion of this acquisition, Cavium Networks paid total consideration of approximately $9 million in cash and has hired most of Star Semiconductor's employees.
On July 16, 2008, Cavium Networks announced a definitive agreement to acquire certain assets of Star Semiconductor. Star Semiconductor is a Taiwan-based design house in Hsinchu with expertise in building highly integrated ARM-based SOC processors for the broadband, connected home and SOHO market segments. This acquisition will provide Cavium Networks with a highly experienced stand-alone SOC processor team based in Taiwan. With this acquisition Cavium plans to deliver highly optimized, cost effective and low power SOC processors to address a significantly broader range of network connected, triple-play enabled devices for the digitally connected home and office.
About Cavium Networks
Cavium Networks is a leading provider of highly integrated semiconductor products that enable intelligent processing in networking, communications, storage, wireless and security applications. Cavium Networks offers a broad portfolio of integrated, software compatible processors ranging in performance from 10 Mbps to 20 Gbps that enable secure, intelligent functionality in enterprise, data-center, broadband/consumer and access & service provider equipment. Cavium Networks processors are supported by ecosystem partners that provide operating systems, tool support, reference designs and other services. Cavium Networks principal offices are in Mountain View, CA with design team locations in California, Massachusetts and India. For more information, please visit: http://www.caviumnetworks.com.
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