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Varsity Media Announces IT Veteran Joins as SVP Software Engineering and the Opening of its European Software Engineering Center

AUSTIN, Texas, Oct. 20 /PRNewswire/ -- Varsity Acquisition Corporation, a wholly owned subsidiary of Varsity Media Group Inc, announced today that IT Veteran Ian Pringle has joined the Company to serve as the Senior Vice President, Software Engineering. Mr. Pringle was a key principal of France Telecom's Technology Research team, specializing in the identification and development of disruptive emerging technologies. Mr. Pringle's work covered many domains including Grid Computing, Home networking, End User creativity, Interfacing, Social networks, Search and Information Management. Mr. Pringle also served in an executive capacity with market-leading new entrant UK ISP, Freeserve (later acquired by France Telecom) where he directed the Technical Production team before moving into a strategic R&D role. Mr. Pringle has managed multi-disciplined engineering and production teams and acted as technology strategy consultant to start-ups. Mr. Pringle started as an analyst/programmer developing distributed database and Internet and multimedia production systems. Mr. Pringle holds a M.S. degree with Distinction in Internet Application development. Mr. Pringle will head WGC's global software engineering team, which will have development centers in the US and Manchester, United Kingdom. Ian stated, "I am very excited to be joining the dynamic WGC team, helping them further build their Software Engineering and Development capabilities which will be focused on commercializing the disruptive technology from the recent merger."

As we announced earlier in the month, Varsity Acquisition Corporation completed its merger with The Wireless Grid Corporation, which was spun out of Syracuse University to commercialize the research concepts and intellectual property produced in its labs. The WGC software based solution, is a next generation application that transforms computer networking and wireless infrastructures (all devices) ability to interact seamlessly with zero to little configuration. WGC has been recognized as one of the '9 Wireless Companies to Watch' (Network World, 8/2008). Along with its four pending patents, WGC's planned software products will allow devices to function interchangeably and some of the most recent highlights include:

  • Intel® Certified Program Partner
  • Nokia - Academic Research Support Partner
  • Syracuse University - Academic Research Partner
  • National Science Foundation (NSF)- Academic Research Support Partner

WGC is also very close to finalizing several additional announcements as it relates to leadership, product development and other significant relationships. WGC intends to expand beta testing of its software solution beginning late in the fall of 2009 with corporate and government agencies in the U.S., which could include partnerships with Intel, Sprint, Newhouse/Brighthouse, Twitter, Qualcomm, Clear Channel, National Science Foundation (NSF) and Syracuse Research Corporation.

Safe Harbor Statement: Forward-Looking Statements

This press release contains certain "forward-looking statements". Such statements include statements relating to the recent Grant awarded by the National Science Foundation to the company and other statements relating to future events or to the company's future financial performance and are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Forward-looking statements are not guarantees of future performance are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward- looking statements. Factors that may cause such differences include the risks that: (i) the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company will need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company's proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's Private Placement Memorandum. The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

SOURCE Varsity Media Group Inc.

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