Newsfile Corp. and Compliance Xpressware LLP Further Consolidate Relationship
Sunnyvale, California & Vancouver, British Columbia--(Newsfile Corp. - March 27, 2012) - Newsfile Corp. (“Newsfile”) and Compliance Xpressware LLP (“CX”) are pleased to announce an agreement whereby Newsfile has obtained the exclusive right to market and service the CX Product Suite.
The managements of Newsfile and CX announced that they have further consolidated their relationship that was agreed on in May 2011. Under this amended agreement, Newsfile has obtained exclusive rights to market and support CX’s Product Suite. This effectively combines Newsfile’s regulatory filing and news dissemination services with CX’s industry-leading software solutions. Newsfile has adopted CX’s flagship product, Xpressfiler, to prepare documents for EDGAR filing.
Newsfile’s newswire and filing services will continue to operate under the Newsfile brand. CX’s software solutions and Newsfile’s Section 16 solution will be consolidated under the Xpressware Product Suite and offered under the Newsfile brand.
A Unique Offering
Newsfile’s President Bill Batiuk said, “This agreement permits Newsfile to offer a complete spectrum of regulatory filing solutions, from a full service offering to facilitating a transition in-house. Xpressfiler was created to minimize the impact of the SEC’s XBRL mandate on issuers. The adoption of Xpressfiler by Newsfile to tag documents in accordance with the SEC’s XBRL mandate has resulted in reasonable timelines and costs being offered to our clients. In addition, the ability of Xpressfiler to handle the IFRS taxonomy has put us in an excellent position to service Foreign Issuers upon acceptance of the IFRS taxonomy by the SEC. Since Xpressfiler operates on the Amazon cloud, Newsfile’s filing specialists are able to easily collaborate on projects from multiple locations and time zones.”
A Sustainable Strategic Fit
CX’s CEO Fuad Rahman, Ph.D. said, “This agreement will drive innovation and value for customers by combining Newsfile’s existing services with CX’s industry-leading software solutions. Newsfile will provide the scale to drive expansion in an ever-changing compliance world with XBRL requirements already in effect for SEC Reporting Issuers using US GAAP and soon for those using IFRS. CX now has an established user base as well as new investment to build the next wave of user-friendly compliance products.”
About Newsfile Corp.
Newsfile Corp. provides a one-stop compliance solution for public companies, focusing on news dissemination and regulatory filing via the EDGAR and SEDAR systems. Newsfile offers a complete spectrum of filing solutions from full service to facilitating a transition to in-house capability using Xpressfiler. Filing services include XBRL consultation, taxonomy creation and maintenance, and tagging.
For more information, please visit http://www.newsfilecorp.com/.
About Compliance Xpressware LLP
Compliance Xpressware develops software solutions for SEC compliance. Xpressfiler, the company’s cloud-based, end-to-end solution for EDGAR filing is a comprehensive software suite that is both affordable and easy to use. Based in the heart of Silicon Valley - Sunnyvale, California, Compliance Xpressware was formed by experienced software technologists and filing agents dedicated to helping public companies report to the SEC.
For more information, please visit http://www.compliancexpressware.com.
All brand names and product names are trademarks or registered trademarks of their respective companies.
Compliance Xpressware LLP