Novation Companies Acquires IVR Central Cloud-Based Business Communications Company Is the First Product Line for Novation's New Products Division KANSAS CITY, MO -- (Marketwire) -- 11/08/12 -- Novation Companies, Inc., (OTCQB: NOVC) announced today a majority acquisition of cloud-based business communications company IVR Central, LLC. Subsequent to the acquisition, the name was changed to CorvisaCloud LLC and products will be delivered under the CorvisaCloud brand. This is the fifth acquisition for Novation, a company that owns and operates early-stage businesses in the technology-enabled services industry. CorvisaCloud, based in Milwaukee, provides a complete suite of customizable call center and small business voice communications solutions. Leveraging a cloud-based platform to ensure affordability and scalability, CorvisaCloud's products include IVR (Interactive Voice Response), Visual IVR, virtual desktop telephony, ACD (Automated Call Distribution), dialer, voice broadcasting, and secure call recording with phonetic search. "Novation has used CorvisaCloud's products during the past year to support our call centers. Their functionality and customization capabilities far exceeded any business-class solution we have used over the years and we knew that their technologies, culture and innovative approach to solving business problems fit what we look for in a Novation company," said Lance Anderson, Novation chief executive officer. "By connecting them with Novation's operational leadership capabilities and shared services, we will help them expand the breadth and depth of their product suite and market reach." CorvisaCloud will be the first product line introduced by the new products division of Novation subsidiary and technology company Corvisa Services LLC, based in Milwaukee. To date, Corvisa has developed industry-leading technologies and provided shared services for the Novation portfolio companies. "Business leaders are always seeking ways to reduce overhead costs and capital expenses, and a growing number of businesses are looking at cloud-based solutions to accomplish that. CorvisaCloud's cloud-based platform addresses a real challenge that call centers and small businesses alike face -- the difficulty of balancing business and customer service best practices with upfront and ongoing cost management," said Steve Haslam, Novation chief operating officer. "Now we can provide a 'one-stop' communications suite that enables businesses of all sizes to achieve enterprise-level communications and call center functionality at substantially reduced costs." Paul Gregory, Novation's director of business development, will take over as managing director of CorvisaCloud. About Novation Companies, Inc. Novation Companies, Inc. owns and operates early-stage businesses in the technology-enabled services industry. Novation currently owns majority interests in StreetLinks LLC, Advent Financial Services LLC and Mango Moving LLC. It trades on the Pink Sheets under the symbol NOVC. For more information, please visit www.novationcompanies.com or contact Matt Kaltenrieder, Investor Relations, 816-237-7508 or firstname.lastname@example.org. About CorvisaCloud CorvisaCloud is a call center communications technology company that provides a suite of cloud-based business solutions, including interactive voice response, automated call distribution, automated dialing and secure call recording. CorvisaCloud's full call center replacement solution allows for the elimination of legacy on-premise phone systems and includes integration to multiple leading CRM and operational management platforms. Our fully hosted and highly scalable solutions help to eliminate the barrier of upfront expenditures that prohibit many call centers from implementing their ideal voice communications platform. For more information, please visit www.corvisacloud.com. Forward-Looking Statements Statements in this press release regarding the Company and its business, which are not historical facts, are "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are those that predict or describe future events and that do not relate solely to historical matters and include statements regarding management's beliefs, estimates, projections, and assumptions with respect to, among other things, our future operations, business plans and strategies, as well as industry and market conditions, all of which are subject to change at any time without notice. Words such as "believe," "expect," "anticipate," "promise," "plan," and other expressions or words of similar meanings, as well as future or conditional verbs such as "would," "should," "could," or "may," are generally intended to identify forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, regarding the impact they will have on the results of operations or financial condition of the Company. This press release speaks only as of its date, and the Company expressly disclaims any duty to update the information herein except as required by federal securities laws. For more information - Katie Kregel Katie.Kregel@corvisa.com 414-847-6904
Novation Companies Acquires IVR Central
Press spacebar to pause and continue. Press esc to stop.