AVM New Wave Launches CorpData LLC

AVM New Wave Launches CorpData LLC

Newly-formed company will provide entity management and workflow solutions to the legal services vertical

Jersey City, NJ — October 23, 2009 — CorpData, LLC, has launched as a joint venture of SIA Transact Pro and AVM New Wave. The newly-formed company will initially provide enterprise entity management and workflow solutions to small- and mid-sized businesses within the corporate formation and registered agent services industry.

CorpData’s charter is to build a suite of web-based business applications targeting the global legal services space, and specifically, targeting small- and mid-sized companies involved in the formation of new business entities. In addition to solutions that facilitate the management of entity registrations and related workflow, future technology solutions will include applications that address accounting, payroll, financial, and IT/technical support services.

Mikhail Vaynshenker, president of AVM New Wave, will become president and chief executlve officer of CorpData LLC. Says Vaynshenker, “Over the course of several years of developing software solutions for the business services market, it has become apparent to us that there are many business management needs that are currently under-served. We believe that we can take our documented expertise in these areas and use that as a foundation for the development of technology tools that can help small- and mid-sized businesses become significantly more competitive.” He adds, “The expertise and backing of both AVM New Wave and SIA Transact Pro will enable us to enter this market quickly, and more importantly, will enable us to provide world-class technology solutions at highly competitive prices, bringing unprecedented business value to our customer base.”

SIA TransactPro is based in Riga, Latvia, and provides payment processing services world-wide. AVM New Wave, Inc, based in New York City, develops web-based tools in support of the business formation services industry.

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About SIA TransactPro

SIA Transact Pro was founded in 2004 and since then has been providing payment processing and card services to its customers — both corporate entities (merchants) and private individuals (cardholders). With an extensive base of more than 14,000 retail customers, the company renders card issuance and merchant acquiring services, maintaining partner relationships with the banking industry, including many Visa and MasterCard member banks. Based in Riga, Latvia, SIA Transact Pro also offers cross-border and domestic merchant acquiring, provides technical support and integration, risk monitoring and management, application handling, customer support and cardholder administration. For more information please visit the company’s website at www.transactpro.lv.

About AVM New Wave

Since 1994, AVM New Wave, Inc. has been a leading provider of intuitive, ready-to-use business process automation solutions targeting the financial services and legal verticals. Their solutions include workflow management; customer relationship management; and private-label payment networks for both traditional payments and micro-payments. Based in New York City, AVM has marketing and technical-support offices in New York, with development centers in Moscow, Russia and Riga, Latvia. For more information, visit their website at www.avm.com.

About CorpData

CorpData, LLC, (www.corpdata.com) is a provider of entity management solutions for the corporate formation and registered agent services industry. Based in Jersey City, NJ, with technology development centers in Riga, Latvia, and Moscow, Russia, CorpData solutions enable workflow and customer relationship management for small and mid-sized businesses. For more information, visit their website at www.corpdata.com.

Note: All designated trademarks used herein are the property of CorpData, LLC. All other marks are trademarks or registered trademarks of their respective owners.

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