Quadrant 4 System Completes Onboarding and Begins Execution of Five-Year Contract With Major Media Company
June 16, 2014 --
ROLLING MEADOWS, Ill., June 16, 2014 (GLOBE NEWSWIRE) -- Quadrant 4 System Corporation (OTCQB:QFOR) ("Quadrant 4" or the "Company"), a leading Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) company in the health insurance exchange, media and retail segments, successfully completed onboarding the necessary resources and technology components to begin delivering services to The Enthusiast Network ("TEN"), formerly known as Source Interlink Media.
"We are pleased to begin servicing our multiyear contract with TEN, and this contract provides significant validation of our strategy to leverage our core proprietary SMAC (social, mobile, analytics, and cloud) technologies for industry-specific vertical cloud platforms," stated Dr. Nandu Thondavadi, President and CEO of Quadrant 4. "I also wish to clarify that the recent news of the pending closure of Source Interlink Distribution, a distinctly separate company from TEN, has no relation to our work on this contract."
As previously announced, Quadrant 4 has entered into a broad-based, long-term business relationship with TEN, a leading American enthusiast media company, to continue the expansion of its portfolio of over 75 leading digital properties, including Motor Trend, Automobile, Hot Rod, and many other category dominant brands. TEN will invest approximately $50 million over five years in Quadrant4's industry leading digital media platform. This initiative will allow TEN's content to be seamlessly consumed at the convenience of its audiences on the device of their choosing, including mobile, console, desktop, iTV, and other devices, while providing TEN a significant ROI and enabling TEN to continue focusing on its core business of content creation.
Quadrant 4 and TEN are forging a long-term partnership to leverage proprietary SMAC-based platform technologies and expertise to address emerging business models and opportunities in the media sector. Over the course of the relationship, Quadrant 4 will lead end-to-end media platform technology and infrastructure efforts, while TEN will continue to drive innovation and multi-platform content creation, with a renewed focus on product development, design, and business intelligence as foundational elements of their long term strategy.
Dr. Thondavadi continued, "Our media platform offers a comprehensive set of capabilities for publishers world-wide to gain significant ROI while bridging the ever growing divide between their print business and on-line digital publishing market segments. Our media group is a vanguard in the Platform-as-a-Service space for the media and publishing industries, and we are excited to continue bringing new developments which will further solidify our leadership position in this exciting and sizeable space."
About Quadrant 4 System Corporation
Quadrant 4 System is a leading Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) company. The Company develops, implements, and operates PaaS and SaaS systems, including qHIX for the health insurance markets; qBLITZ for the digital media business; and qSKU for retailers. These platforms have a built in proprietary set of SMAC (social media, mobility, analytics and cloud computing) components and focus on providing solutions for Fortune 500 companies. Please visit www.qfor.com for further information.
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