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Micro-Cap Signs First Contract With Banking Industry Giant
By: AllPennyStocks.com News
July 19, 2010
It’s the latest thing in the world of computer innovation. It’s called virtualization, and can serve anyone who uses a computer, from Information Technology professionals and Mac enthusiasts to commercial businesses and governments. Millions of people around the world now use virtualization to save time, money and energy while achieving more with the computer hardware they already own.
Virtualization is a proven software technology that is rapidly transforming the IT landscape and fundamentally changing the way people compute. The companies that spearhead this innovation are the ones on the forefront of the battle for profits in the IT world.
Enter China VoIP & Digital Telecom Inc. (OTCBB:CVDT), whose Beijing PowerUnique Technology (BPUT) subsidiary announced in the third week of July a virtualization agreement with CITIC Group in Beijing and will launch its integrated datacenter virtualization solution. CITIC Group, a large state-owned investment company, was established in 1979, and by 2009, had amassed more than $30 billion in revenue.
It owns 44 subsidiaries including China CITIC Bank, CITIC Holdings, CITIC Trust Co. and CITIC Merchant Co., Ltd (mainly banks) in China, Hong Kong, the United States, Canada, Australia and New Zealand. CITIC's core business ranges from financial industry, industrial investment to service industries. It ranks 254th on the Fortune Global 500 in 2010.
BPUT will provide CITIC with industry-leading comprehensive datacenter solution technologies. This will help CITIC reduce investment and operating expenses, lowering the total cost of ownership. It will also enhance CITIC's datacenter security and reduce the required number of servers, resulting in higher energy-savings, lower emissions and more environmentally-friendly effects.
CVDT offers virtualization technology applications in China through BPUT and its other wholly-owned subsidiary, Jinan Yinquan Technology Co., Ltd., and is thus well-positioned to take full advantage of the tremendous economic growth currently being experienced in China. CVDT is currently marketing its integral virtualization solutions and services in China and at this time is in the testing stages of other IT products.
BPUT came into the fold in 2008, whereupon CVDT shifted its business focus to virtualization technology development and promotion. Thanks to the strong support from the Beijing government for its virtualization solutions, the company achieved a major breakthrough in the virtualization market.
The news sent CVDT stock leaping into the air on July 19, to about the 60-cent mark, on more than 120,000 shares. The 52-week peak is around 69 cents, at which it closed on May 27. Last January, the stock sank to a depth of 8.1 cents. With the excitement created by this new technology, and the financial strength of its new clients, CVDT and its subsidiaries look to create a lot of noise in the very near future.
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