Propels exactEarth into the $880 million Global Maritime Information Market
CAMBRIDGE, ON, April 14, 2016 /CNW/ - exactEarth Ltd. (TSX: XCT) ("the Company"), the leading provider of Satellite AIS data services, today announces a Strategic Alliance Agreement (the "Agreement") with Larus Technologies ("Larus"), an Ottawa-based provider of adaptive learning and predictive analytics software. Under the Agreement, the two companies will work together to develop and market Big Data analytics-based software applications and information services for the global surveillance and intelligence markets.
As part of the Agreement, exactEarth will gain an exclusive license to Larus' Big Data analytics platform (Total::Insight™) for the Maritime market. Developed over 10 years, Total::Insight provides an advanced adaptive learning and Big Data analytics decision-support capability that has been deployed predominantly in the defence market. In return, Larus will gain access to exactEarth's map visualisation IP for integration into Total::Insight-based solutions for non-Maritime markets and to exactEarth's extensive data archive to perform advanced pattern-of-life analysis.
exactEarth will enhance existing, and develop new, maritime-focused information products and services by integrating technology from the Total::Insight platform into its existing Maritime Big Data processing and supply chain IT infrastructure. New application areas will include shipping movement and behavioural analysis and the Companies will work together to advance the capabilities in the exciting area of predictive analytics.
"In keeping with our strategy to broaden our capabilities into the wider Maritime Information and Analytics market, this alliance will accelerate our entry into this larger market" said Peter Mabson, CEO of exactEarth. "We have collaborated with Larus in the past and recognise their unique capabilities in this area, and we are pleased to partner with such home-grown talent. There are many products and services with market potential that we have already identified that can be developed from the Larus platform for existing and new customers, and we believe we can start bringing some of these applications to market in the second half of this year. In addition, we expect that exclusive access to Larus' advanced capabilities especially in predictive learning will accelerate us to the very forefront of Maritime data analytics providers"
"Larus and exactEarth are an exciting Canadian combination," said George Di Nardo, President and Founder of Larus. "exactEarth's existing Maritime Big Data capabilities and leading market share, with developed sales channels, will help drive the commercial potential of the investment we have made over the past 10 years with the Total::Insight analytics platform. Larus is a recognized leader in computational intelligence and predictive analytics with a proven track record and a successful history of working with exactEarth. This Agreement provides us with the resources to continue to enhance our core technology, while also providing us exciting visualisation capabilities for the non-Maritime markets. We are excited to be partnering with the exactEarth team to further develop the burgeoning market for Big Data analytics and predictive learning solutions."
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its establishment in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite-AIS ("S-AIS") and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth has deployed an operational data processing supply chain involving a constellation of satellites, receiving ground stations, patented decoding algorithms and advanced "big data" processing and distribution facilities. This ground-breaking system provides a comprehensive picture of the location of AIS equipped maritime vessels throughout the world and allows exactEarth to deliver data and information services characterized by high performance, reliability, security and simplicity to large international markets. For more information, visit exactearth.com.
Larus Technologies Corporation is a recognized leader in computational intelligence and predictive analytics. Based in Ottawa since 1995, Larus is focused on delivering innovations in computational intelligence, behavioural analytics and data/information fusion. Larus' core product, Total::Insight™, uses a patented adaptive learning fusion architecture to sift and analyse large amounts of data from a variety of sources including sensors, databases, social media, etc., and deliver accurate, predictive and time critical knowledge to decision makers. Larus' Total::Insight analytics platform optimizes situational knowledge and understanding, leading to better decisions and more precise actions. For more information, visit larus.com.
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements may include financial and other projections, as well as statements regarding exactEarth's future plans, objectives or economic performance, or the assumptions underlying any of the foregoing, including statements regarding, among other things, the intentions of the parties, the use of any intellectual property, further investments that may be made by exactEarth and new markets that may be exploited by either party. exactEarth uses words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by exactEarth in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors exactEarth believes are appropriate under the relevant circumstances. However, whether actual results and developments will conform to exactEarth's expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause exactEarth's actual results, historical financial statements, or future events to differ materially from those expressed or implied by the forward-looking statements contained in this news release. These factors include, without limitation: uncertainty in the global economic environment; fluctuations in currency exchange rates; delays in the purchasing decisions of exactEarth's customers; the ability of exactEarth to bring products to market on a timely basis; the competition exactEarth faces in its industry and/or marketplace; the further delayed launch of satellites; the reduced scope of significant existing contracts and the possibility of technical, logistical or planning issues in connection with the deployment of exactEarth's products or services.
SOURCE exactEarth Ltd.
Image with caption: "exactEarth and Larus Technologies Announce Strategic Alliance to Develop Big Data Analytics Applications (CNW Group/exactEarth Ltd.)". Image available at: http://photos.newswire.ca/images/download/20160414_C5672_PHOTO_EN_665436.jpg
For further information: Media: Nicole Schill, Marketing Communications Manager, Tel: +1 519-622-4445, Nicole.Schill@exactearth.com; Investors: Dave Mason, Investor Relations, Tel: +1 416-985-3647, firstname.lastname@example.org