Rakishev Working to Export Technologies to Russia, Kazakhstan and other CIS Countries to Capitalize on the Region's Explosion of Mobile Commerce and Foreign Direct Investment
TORONTO, Oct. 23, 2012 /CNW/ - Sprylogics International (TSXV: SPY) today announced the addition of noted global business leader and strategic technology investor Kenges Rakishev to its advisory board. In this role, Rakishev will work with other thought-leaders on the advisory board, including Dennis Miller, Jeff Sagansky, Asim Abdullah, Tony Lacavera, and Jan Klein, to provide strategic insights, solidify partnerships and help secure distribution agreements worldwide for Sprylogics' mobile solutions.
In particular, Rakishev plans to leverage his extensive network and high-level business dealings in Russia, Kazakhstan and other Commonwealth of Independent States countries to help expand Syrologics' reach into those regions and other emerging markets. Rakishev, who recently announced multi-million dollar investments into TriPlay, Mobli and Net Element International (NASDAQ:NETE), is actively working to source technologies abroad and export them to the region.
Sprylogics' unique technologies include a Facebook-integrated version of Liquid Messaging, which enables users to chat, perform mobile searches and share their search results (including movies, restaurants, and local businesses) with their Facebook friends as well as other Liquid Messaging users over Sprylogics, proprietary platform. The iPhone version of this product is currently in Beta stage.
"Sprylogics' Liquid Messaging solution is very compelling for consumers, operators and messaging providers," said Rakishev, who was designated by Forbes as one of the 50 most influential people in Kazakhstan. "Sprylogics is uniquely positioned to capitalize on the incredible growth of messaging and search, both tremendous opportunities in the mobile space."
Added Rakishev: "I am excited by the incredible growth of technology and mobile commerce in Russia, Kazakhstan and other CIS countries. Russia's mobile commerce market alone reached $475 million in 2011 and its IT market is expected to reach $32 billion in 2013. I look forward to working with Sprylogics and other technology companies to source technological innovations abroad, export them to the CIS region, and then modify these technologies to the fit the unique cultural nuances and needs of the CIS market in order to cultivate a spirit of technological innovation in the region."
Marvin Igelman, CEO of Sprylogics, echoed his sentiments about the opportunities in the region: "Without doubt, Kenges' experience, knowledge and global network will be invaluable in pursuing partnerships, distribution agreements, and consumer adoption in the important Commonwealth of Independent States (CIS) and Russian markets and other key markets. The addition of Kenges to our advisory board is part of our commitment to align Sprylogics with the best and brightest minds and continue to expand our reach and presence worldwide."
Rakishev replaces William Kirsh. "We appreciate William's contribution to our Advisory Board and look forward to moving ahead with Kenges as part our strategic plans," said Igelman.
About Kenges Rakishev
Kenges Rakishev, a noted global business leader designated by Forbes as one of the 50 most influential people in Kazakhstan, is an accomplished investor with multiple business interests worldwide. He serves as chairman of the board of directors for several companies including SAT & Company (KASE: SATC), a diversified industrial holding. Benefitting from Kenges' leadership, SAT & Co., which has interests in mechanical engineering, infrastructure projects and petrochemical operations as well as plants and projects in Turkey and China, has grown from its initial investment of $10K in 2000 to more than $500M today. Kenges also is chairman of the board for Kazakhstan Petrochemical Industries, the lead operator constructing the first integrated gas chemical complex in Kazakhstan, as well as Vyborg Shipyard, one of the largest shipbuilding companies in the northwestern region of Russia. He also serves as chairman of the board of directors of Net Element International (NASDAQ:NETE), a technology driven group in mobile commerce and payment processing, as well as in entertainment and culture Internet destinations in Russia and other emerging markets.
Sprylogics International develops advanced search and analysis technology. The patent pending technology platform uses Semantic and Machine Learning techniques to process, analyze and interpret unstructured data including real time conversation, in order to extract key sentiments, facts, user interests and intent. The technology platform is currently being used to develop innovative solutions related to search and discovery of products and places on mobile devices. More information is available atwww.sprylogics.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.
SOURCE: Sprylogics International Corp.
For further information:
FOR KENGES RAKISHEV
(305) 403-2080, Ext. 114
David Berman, CFO
(905) 761-9200, Ext. 21