California-based Telynx Inc. (Pink Sheets:TLYN), a provider of software solutions for telcos, today announced that it has opened a research and development center in northern Israel.
Telynx designs and markets a line of network inventory management and provisioning software products and related services to telecommunications service providers. Telynx's software is designed to track inventory, provide new services and provide a tool for managing network bandwidth.
The company stated that the center would be staffed with a new team of engineers responsible for completing the development of the latest version of Telynx's inventory and management software.
Telynx president and CEO Paul Mataras said, "This is a notable accomplishment for Telynx, and will assist us in reaching our revenue and profit goals in the coming year."
Last April, Mataras and company chairman Talieh Safadi purchased the assets of Telynx for $10.00 from former chairman and CEO Ali Al-Dawhi and former president Scott Munden. The assets consisted mainly of Telynx's intellectual property, vendor list, and accounts receivable. Prior to that, Telynx (formerly Cambio) , a Delaware corporation formerly based in El Paso, Texas, was dormant for approximately one year.
Mataras and Safadi's stated intention is to build up the company by settling its $4.8 million in liabilities and debts, and hiring software engineers to create an updated version of the company's signature software.
Restructuring included moving the corporate headquarters to Sherman Oaks, California, close to Hollywood where Safadi is a writer, director, producer, and filmmaker.
Mataras is president and CEO of Constant Innovation Technologies Corporation (CITC), a technology company specializing in the development of products utilized in the sports entertainment industry.
Last week, Telynx announced that it has signed a licensing agreement with Hewlett-Packard. Under the terms of the agreement, Telynx will license its netRunner software source code to Telekom-Egypt, and provide ongoing software support. The contract is guaranteed for two years and has an additional five-year optional extension, at $65,000 per year.
Published by Globes [online], Israel business news - www.globes.co.il - on Thursday, December 09, 2004