Sprylogics moves forward on its platform license initiative
2011年11月22日 - 11:00PM
PR Newswire (Canada)
• signs LOI to license platform to
Softection PTY Limited of Australia TORONTO, Nov. 22, 2011 /CNW/ -
Sprylogics International Corp. - TSX Venture: SPY ("Sprylogics" or
the "Company") is pleased to announce that it has signed a Letter
of Intent ("LOI") to license Sprylogics' Semantic Search Technology
to Softection PTY Limited ("Softection") of Australia. Softection
develops Digital Asset Protection ("DAP") Enterprise solutions in
the Data Loss Protection marketplace (which is growing at a rate of
20% per year according to The Radicati Group of Palo Alto,
CA). Their current technology protects an organization's
sensitive digital assets through encryption, logging and tracking.
Integration of the Sprylogics technology will fill the void left by
other Data Loss Protection technologies by enabling the discovery,
classification and tagging of sensitive unstructured data. The
solution will also allow for the real time identification,
classification and protection of all new digital assets to
proactively enforce data security policies. Softection will target
the integrated solution at a number of key enterprise verticals,
and initially, will pursue opportunities within the growing eHealth
market. "We are pleased about the opportunities that the combined
technologies of Sprylogics and Softection offers both companies",
said Marvin Igelman, Sprylogics CEO. "It is a further
validation of our core technology platform and supports our
intention to pursue strategic and complimentary license deals."
This license opportunity is directly related to the Company's
previously announced strategy, "Sprylogics Platform" (see press
release dated October 19, 2011) which relates to the licensing of
the core search, semantic, and data acquisition technology to
enterprise customers in the Financial Services, Health,
Telecommunications and Media verticals. About Sprylogics
International Corp. Sprylogics International develops advanced
search and analysis technology. Additionally, Sprylogics'
products search large amounts of unstructured data on the web, and
in internal corporate databases, and convert it into more relevant
searches for a variety of applications. The core technology driving
Sprylogics' solutions is embedded in the Cluuz Search Engine
platform. Cluuz search results are visually displayed through
patent pending semantic cluster graphs and result in improved
decision-making capabilities. Find out more at www.sprylogics.com,
and www.cluuz.com. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Cautionary and Forward-Looking
Statements Statements contained in this news release which
are not historical facts are forward-looking statements that
involve risk, uncertainties and other factors that could cause
actual results to differ materially from those expressed or implied
by such forward-looking statements. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. All forward-looking statements included in
this news release are based on information available to the Company
on the date hereof. The Company assumes no obligation to
update any forward-looking statements, except as required by
applicable securities laws. Sprylogics International Corp. CONTACT:
Sprylogics International Corp.David Berman, CFO, 905-761-9200
Ext.21 or davidb@sprylogics.com
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