IceWEB To Acquire Inline

IceWEB, Inc., a one-stop source for best-of-class
computing hardware, on-demand software, advanced networking solutions
and online services,announced that it has entered into
a binding Letter of Intent to acquire INLINE Corporation, a privately
held U.S. company in the manufacturing of enterprise data storage. Subject to due
diligence and board approvals, the closing of the acquisition is
expected to occur on or before December 31, 2007.

John R. Signorello, Chairman and CEO of IceWEB, stated, “INLINE
represents an ideal fit for IceWEB, particularly when considering that
both our companies intimately understand and appreciate the range of
complexities and sensitivities inherent in managing large scale network
deployments within government and enterprise IT environments. Further,
because INLINE and IceWEB share similar business principles and
corporate cultures, we believe that the integration of our companies
will progress smoothly and rapidly and our respective strengths will be
quickly leveraged and enhanced.”

“A key element of our long term business
strategy is to intelligently expand our portfolio of proprietary,
branded products and services so that we may fully capitalize on
prevailing growth opportunities present in the global market place,”
continued Signorello. “By manufacturing and
marketing our own line of solutions, we will benefit from greater
competitive differentiation, increased profit margins on sales and an
entire universe of prospective new enterprise customers operating in
countries outside of the United States. As we successfully integrate
INLINE, it can be expected that we will expand our presence in Europe,
Asia and South America in the coming year.”

John R. Tibbitts, CEO of INLINE Corporation, added, “Rarely
when merging two unique companies can you find so much synergy and
complement. It was immediately clear that both companies current and
future customers will greatly benefit from this larger and stronger
team. Our customers will immediately benefit from the unification of
Data Storage Appliances, Clustered Virtual Platforms, Embedded Security
Modules delivered on Turnkey ‘Complete’ appliances and through our
existing Online Storage & Application providing data centers services.
We will have an unmatched ability to deliver tomorrow’s
Service Oriented Architecture (SOA) through online services or rapidly
deployable hardware platforms, today.”

INLINE Corp.

IceWEB, Inc.