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VENICE CONSULTING GROUP COMPLETES ACQUISITION OF NEARSHORE DEVELOPMENT LEADER SIEENA SOFTWARE

Venice Consulting Group Completes Acquisition Of Nearshore Development Leader Sieena Software
4.26.06

FOR IMMEDIATE RELEASE

Combined company provides rapid development and deployment of complex technical projects using their hybrid nearshore model

VENICE, CA. April 26, 2006 — Venice Consulting Group (VCG), a software development and consulting firm based in Venice California, today announced the completion of its acquisition of Sieena Software. The combination of VCG and Sieena creates one of the nation’s fastest growing and most innovative technology development firms using the proven hybrid nearshore development model.

The acquisition brings together Sieena’s seasoned technology team in Monterrey, Mexico with VCG’s leadership and delivery teams in the US, providing clients with a deep resource base and a broad skill set to draw upon. The combined company will allow VCG to deliver best-in-class development services to the marketplace within a secure and cost effective model. Sieena will continue to be managed by their proven leadership team in Monterrey and have better access to capital and resources to drive future growth.

"Companies are looking for technology partners that can deliver projects on time and on budget," says Jake Ryan, managing partner at VCG. "As we've perfected the nearshore development model, Venice Consulting and Sieena together will provide a better ROI and cost-benefit compared to traditional offshore outsourcing while lowering the risks involved. We give our clients a faster time to market with the unique capability to meet tighter deadlines that businesses need to compete in today's market. With our hybrid nearshore model we're essentially redefining the way companies approach software development."

The hybrid model of “nearshore” development is used to describe a system where local project management drive the project while the offshore development team is based in Mexico as opposed to India, China or Eastern Europe. Benefits include lower risk development, strong cost/benefit, world-class quality, better business cultural alignment and closer geographic proximity to US teams.

“The new relationship between our companies provides us with important stability and growth opportunities which make us an ideal choice for development projects,” says Mauricio Duran, President of Sieena Software and Vice President of Nearshore Development for VCG. “Venice Consulting has doubled their revenues for the past four years, and is on pace to do so for a fifth consecutive year. Needless to say, we’re excited about the future prospects.”

To learn more about hybrid nearshore outsourcing, download VCG’s free paper, “The Six Secrets of Nearshore Development” and read Line56.com's article on "The Limitations of Offshore."

About Venice Consulting Group

Venice Consulting Group is a software consulting and development company, specializing in time-sensitive and mission-critical system development. With extensive experience in technologies such as Web, .NET, Java and open-source environments, our consortium of seasoned consultants deliver quality solutions on time and within budget. Our solutions include Content Management, Search, Web Portals, CRM as well as Custom Development. Our team has deep industry experience that cross many vertical markets from real estate to media/entertainment to new start-up ventures. Please visit us at www.VeniceConsulting.com to learn more.

About Sieena Software

Sieena is a software development company that provides services to organizations located in the U.S. Sieena was founded by a group of highly specialized software engineers with a decade of experience in the IT industry. Our team has had the opportunity to work with companies that demand the highest quality from their software providers. Sieena's proven work methodology and its experienced development team make it your best option when planning to send your IT projects offshore. For more information, visit www.Sieena.com.

Media Contacts:
Venice Consulting Group: Edward Yang, (949) 500-6422