NEW YORK, June 10, 2011 /PRNewswire/ -- Midas Medici Group Holdings, Inc. ("Midas") (OTCBB: MMED), an innovative green IT company in the fields of virtualization, cloud computing and data management, as well as Smart Grid solutions, today announced the release of an in-depth initiation report by Patrick Murphy, CFA, principal of fee-based, third-party research firm Murphy Analytics.
In his report, Mr. Murphy discusses Midas Medici, its unique position in the Green IT and Smart Grid sectors, and initiates coverage with a 12-month price target of $7.65 per share.
"Midas Medici is addressing the increasing demand for IT services, data management and energy consulting solutions through our continuously expanding operations and high growth acquisition strategy," stated Nana Baffour, CEO and Co-Founder of Midas. "This comprehensive report provides investors with an excellent overview of Midas Medici's unique strengths: from our comprehensive understanding of the energy and technology sectors, our longstanding relationships with 700+ clients and our significant potential for expansion through accretive acquisitions in 2011."
From the Murphy Analytics Research Report, Mr. Murphy states:
"The Midas story begins with the vision and experience of its management team, which, by completing over $600 million in acquisitions, has proven the ability to identify, integrate and grow business and acquisition opportunities within the Company's target markets. The Midas team has cutting edge IT and utility industry knowledge and partnerships with leading IT manufacturers and service providers."
The report details the significant growth projected in cloud computing, virtualization, and Smart Grid technology which all benefit from recent forecasts by Gartner that the IT industry will reach $3.6 trillion in revenue in 2011, increasing 5.1% over 2010. Murphy Analytics also explains how Midas Medici is attempting to translate this growth into future results utilizing its unique specialized services at the intersection of energy and technology.
"As Midas continues to execute its corporate strategy over the coming quarters, Murphy Analytics (MA) expects that the market will begin to value the Company's revenue at a multiple trending towards some of the recently acquired data center operators. Over the coming 12-months, MA expects the Midas valuation to reach 1.25x revenue of approximately $53 million, implying a market cap of $66 million and a 12-month price target of $7.65 based on the MA estimated total potential share count."
The complete report is available in Acrobat format, free of charge:
http://www.murphyanalytics.com/uploads/MMED_Initiation.pdf
About Midas Medici Group Holdings, Inc.
Midas Medici Group Holdings, Inc. (OTCBB: MMED) is a green IT company that supplies mid-sized and select enterprises and institutions with leading-edge IT solutions in the fields of virtualization, cloud computing and data management, as well as working with utilities and other institutions to transform the electric grid through digital technologies. Across its Consonus and UtiliPoint brands, Midas works with its customers by optimizing IT and data center investments, cutting energy usage and preventing data loss, all while maximizing productivity. Through a management team with decades of experience, Midas is positioning itself to take advantage of the high-growth IT industry through its unique specialized services at the intersection of energy and technology.
For comprehensive investor relations material, including fact sheets, presentations conference calls and video, please follow the appropriate link: Investor Presentation, Investor Portal and Overview Video.
For more information on Midas Medici, please visit: www.midasmedici.com.
Information Regarding the Murphy Analytics Report
SEC Section 17(b) Disclosure: Murphy Analytics has been paid $8,500 by Midas Medici Group Holdings, Inc. Although the Murphy Analytics report described herein was commissioned and paid for by Midas Medici, the company notes that the report was generated independently by Mr. Murphy, and statements by Mr. Murphy are his own and not attributable to Midas Medici. Readers are advised to review the report in its entirety, including the disclosures and disclaimers noted therein.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the Company's business and operations; business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Company Contact:
Johnson Kachidza
Chief Financial Officer
212-792-0920
Investor Contact:
Trilogy Capital Partners
Darren Minton, President
Toll-free: 800-592-6067
info@trilogy-capital.com
SOURCE Midas Medici Group Holdings, Inc.
