NEW YORK, Aug. 26, 2015 /PRNewswire/ -- Newtek
Business Services Corp. ("The Company"), (NASDAQ: NEWT), an
internally managed business development company ("BDC"), today
announced that Newtek Technology Services ("NTS"), one of The
Company's wholly owned portfolio companies, has entered into a
39-month contract with LookSmart (NASDAQ: LOOK), a premier online
and technology advertising company that operates LookSmart.com,
Clickable.com and ShopWiki.com. Pursuant to this contact, NTS
will manage, on an outsourced basis, LookSmart's information
technology ("IT") operation through its fully integrated,
around-the-clock managed technology solution in its data center in
Scottsdale, Arizona. NTS has
migrated all of LookSmart's IT hardware and software to its cloud,
and physically migrated LookSmart's servers to its data center in
Phoenix, Arizona. NTS will
provide around-the-clock management and customer service to this
new IT client, offering a premier outsourced solution for LookSmart
and all of its stakeholders.
Barry Sloane, President, Chairman
and Chief Executive Officer of Newtek Business Services Corp. said,
"NTS has many years of expertise in handling complex sophisticated
data center migrations and is now focusing on delivering to
enterprise clients a path to and from the cloud for both backup and
replication. Our current footprint in both of our
Arizona locations in Scottsdale and Phoenix as well as our locations in
New Jersey; Denver, Colorado; London, England and, in the near future,
Singapore allow NTS to provide
scalable service for managed enterprise backup and replication for
seamless disaster recovery. We share the opinion of many
industry experts that enterprise clients as well as small- and
medium-sized businesses will migrate their hardware and software as
well as their servers to a 24/7 data center and into the cloud.
Cognizant of NTS' 18 years of operating history and expertise, both
commercial and public clients that want to reduce internal and
external labor costs, the cost of power and bandwidth, hardware
costs as well as desire real-time instant hot and redundant backup
are approaching NTS daily for proposals and solutions. We
believe there will continue to be a large-scale migration of
businesses, of all sizes, from dedicated-server environments
provided by the larger well-known companies to more nimble
companies like NTS that provide significant labor-cost savings in
addition to managed IT outsourced expertise."
About Newtek Technology Services
Newtek Technology
Services is a wholly owned portfolio company of Newtek Business
Services Corp., and has been managed by The Company since 2004. The
Newtek Technology Services' infrastructure is now the foundation of
Newtek's cloud technology portfolio, software and business services
for small- to medium-sized businesses, and large enterprises that
need to finance and deploy information technology operations in the
cloud.
About Newtek Business Services Corp.
Newtek Business Services Corp., The Small Business
Authority®, is an internally managed BDC,
which along with its controlled portfolio companies, provides a
wide range of business services and financial products under the
Newtek® brand to the small- and medium-sized business
("SMB") market. Since 1999, Newtek has provided
state-of-the-art, cost-efficient products and services and
efficient business strategies to over 100,000 SMB accounts across
all 50 States to help them grow their sales, control their expenses
and reduce their risk.
Newtek's products and services include: Business Lending,
Electronic Payment Processing, Managed Technology Solutions
(Cloud Computing), eCommerce, Accounts Receivable Financing, The
Secure Gateway, The Newtek Advantage™, Insurance
Services, Web Services, Data Backup, Storage and Retrieval and
Payroll.
The Small Business Authority® is a
registered trade mark of Newtek Business Services Corp., and
neither are a part of or endorsed by the U.S. Small Business
Administration.
Note Regarding Forward Looking
Statements
This press release contains certain
forward-looking statements. Words such as "believes," "intends,"
"expects," "projects," "anticipates," and "future" or similar
expressions are intended to identify forward-looking statements.
All forward-looking statements involve a number of risks and
uncertainties that could cause actual results to differ materially
from the plans, intentions and expectations reflected in or
suggested by the forward-looking statements. Such risks and
uncertainties include, among others, intensified competition,
operating problems and their impact on revenues and profit margins,
anticipated future business strategies and financial performance,
anticipated future number of customers, business prospects,
legislative developments and similar matters. Risk factors,
cautionary statements and other conditions, which could cause
Newtek's actual results to differ from management's current
expectations, are contained in Newtek's filings with the Securities
and Exchange Commission and available through
http://www.sec.gov/.
For more information, please visit the following websites:
www.thesba.com
Contacts:
Newtek Business Services Corp.
Barry Sloane
Chairman and CEO
212-356-9500
bsloane@thesba.com
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SOURCE Newtek Business Services Corp.