Industry Veterans acquire EAM Resources; form IT consulting company

Denver, CO, Jan. 3, 2006 — IT industry veteran Rick Higdon and EAM Resources Inc. founder Tim Perman announced the acquisition of EAM Resources by a newly formed IT consulting company branded Turnpoint Solutions LLC.

EAM was founded in 1999 by mining industry IT and finance executive Tim Perman. EAM is a player in the critical asset management IT consulting niche for the mining and transportation industries. Established EAM offices in Denver and Perth Australia will become the US and Australasia headquarters for Turnpoint. A southeast regional office has also been opened in Atlanta.

Terms of the acquisition and financing were not made public. Turnpoint has pre-valued capital funding available and will be seeking complementary and accretive acquisitions and partner solution partnerships with ISV’s and other service providers. Rick Higdon has also been named president and CEO.

A former longtime executive of enterprise software provider Mincom Inc., Higdon was most recently president of the Mobility software division of Axiom Consulting that was acquired by SPL in 2005.

Tim Perman has been named EVP Consulting Operations and head of the firm’s mining and transportation practices.

Turnpoint also announced the formation of a utilities industry practice to complement the mining and transportation industry practices acquired from EAM. Utility industry veteran, KP Reddy, who joined Turnpoint after 20 years at Southern Co. and Axiom Consulting, has been named a practice manager in Turnpoint’s utility & government team that counts Gainesville Regional Utilities and Atlanta Gas Light as new customers.

Chris Dabic, formerly of EAM Resources Pty Ltd. Australia, has been named general manager of Turnpoint’s Australasia operations. Dabic brings experience in implementing enterprise applications and will be charged with scaling the Australian operation.

Turnpoint was advised in the transaction by The McDonnell Group, Inc. whose managing director Don McDonnell was also named to Turnpoint’s board of advisors.

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