Verso Names CFO

ATLANTA -- Verso Technologies, Inc. (Nasdaq: VRSO), a global provider of next generation network solutions, announced today that it has hired Martin D. Kidder as its new chief financial officer, effective November 1, 2006. Kidder brings more than 20 years of financial management experience to the company, with 14 years in executive roles with high growth telecommunications companies, and extensive experience in mergers and acquisitions as well as SEC reporting.

Kidder comes to Verso from CipherTrust, Inc., a global provider of messaging security products, where he served as corporate controller for more than two years. CipherTrust was acquired in August 2006 by Secure Computing. Previously, Kidder was controller of both GE Energy’s Network Reliability and Rentals businesses, as well as controller for Glenayre Technologies, Inc., a global provider of next-generation messaging solutions and enhanced services for wireless/wireline carriers and MSO/cable operators. Kidder was also vice president and controller at World Access, Inc., an international provider of voice, data, and Internet products from 1992-2001.

Kidder began his career with PricewaterhouseCoopers LLP in Detroit, Michigan, where he obtained his certified public accountant license.

“Marty is well known to us at Verso, having worked with our Executive Chairman Steve Odom, for many years at World Access,” said Monty Bannerman, chief executive officer, Verso Technologies. “He has managed numerous merger, acquisition, divestiture and restructuring initiatives, financing transactions, and business integrations and business systems implementations. Marty's extensive experience with rapidly growing public technology companies will be of great value to us."

Verso Technologies Inc. (Nasdaq: VRSO)

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