iDirect Technologies Hires Chief Financial Officer to Lead Corporate Growth Opportunities

iDirect Technologies Hires Chief Financial Officer to Lead Corporate Growth Opportunities
CFO Leadership to Capitalize on iDirect's Record Revenue Growth for Future Merger & Acquisition Opportunities


HERNDON, Va. -- October 6, 2004 -- iDirect Technologies, a privately held company that designs, develops, and markets the fastest, most reliable bi-directional satellite-based broadband access solutions using Internet protocols, announced today that Jorge Raul Forgues has joined the company as its Senior Vice President and Chief Financial Officer.

iDirect has experienced a three-fold revenue gain in 2003 and is on track to double that number in 2004. Mr. Forgues' role will be to capitalize on this performance and move the company forward by raising additional capital and evaluating potential merger & acquisition opportunities which will grow the company's overall financial strength and positioning.

In the past three years the company has grown from 42 employees to 91 and expects to be near 100 by the end of the year. The company also achieved the ranking of #81 on the Inc. 500 list of America's Fastest-Growing Private Companies for 2003, and, in that same year, made Deloitte & Touche's Technology Fast 500 list of the nation's fastest-growing technology companies. Over the past year iDirect has expanded their European offices, opened new regional offices in Asia and Latin America and just recently opened new corporate offices in Herndon, Virginia. This expansion is a direct response to significant global sales growth and contract wins.

"As iDirect continues its global expansion and further develops its award-winning product portfolio, it is critical that we have the guidance of a seasoned financial professional" said John Kealey, CEO of iDirect Technologies. "Jorge is a respected leader in the industry and his global experience will be crucial as we move forward with our corporate expansion plan."

Mr. Forgues has orchestrated the financial management and funding initiatives for businesses expanding into Europe, Asia and Latin America. In addition, he has run numerous merger and acquisition efforts that have covered all phases of the deal cycle from initial acquisition strategy through closing and integration. He joins iDirect from Inter.Net Corporation, an Internet service provider with presence in 10 countries, where he served as the company's Chief Financial Officer since 2001. Mr. Forgues has also served as a senior financial executive at PSINet, Treev Corporation and Best Software.

About iDirect Technologies

iDirect Technologies, a subsidiary of Vision Technologies Systems Inc., designs, develops, and markets satellite-based broadband access solutions targeted at the enterprise, government, carrier and educational sectors that have the need for fast, flexible, and geographically dispersed two-way internet/intranet access. The company has developed technology solutions that combine high performance, worldwide availability, and ease of installation, high reliability, and low cost to end customers. In addition, iDirect solutions offer unprecedented efficiencies, increased revenue opportunities and higher per customer gross margins to satellite network operators. iDirect was awarded the 2005 World Teleport Association Teleport Technology of the year, the Innovation & Technology of the Year by The ISCe Advisory Board, and named number one in the Deloitte & Touche Virginia Technology Fast 50 list of the fastest-growing U.S. technology companies. iDirect operates its corporate headquarters in Herndon, Virginia and has regional offices in Europe, Asia, and covering Latin America. Additional information is available on the company website at


Warren Brown
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