Solves Concerns of Large Corporations over Varying Regulations by Governing Jurisdictions and Corporate Bylaws
SUNNYVALE, Calif., Feb. 13, 2014 /CNW/ - LeoNovus® Inc. ("LeoNovus") (TSXV: LTV), a leading Internet developer with its SMART Media Platform and geo-dispersed distributed Cloud announced today the release of its sovereignty distributed cloud capability. Large multi-million-dollar companies are challenged with maintaining control over the location of their data, where documents physically reside, and proprietary access when using cloud services. Privacy and data residency requirements vary by country and even within national borders. Users of cloud services need to consider the rules of privacy and security that cover each of the jurisdictions in which they operate, including the rules that govern the treatment of data at the locations where data centres provision their services.
Corporate cloud initiatives are proliferating, driven by the need for organizations to be competitive, innovative, and cost-effective. However, while the cloud delivers compelling benefits in these areas, it also raises significant issues around data residency, privacy, security, and compliance – especially when data crosses international boundaries.
The LeoNovus distributed cloud offers the ability for geo-dispersed compute and storage within a domain. In practice, that means that a large government organization or financial company located in Canada can choose to use the LeoNovus distributed cloud across multiple end-points within a geographical boundary or even province, while maintaining total control over data residency as well as privacy based on governing jurisdictions.
"Many large enterprises have voiced their concern in working with larger data-centre providers that do not disclose where data is physically stored," said Dan Willis, Chief Architect for LeoNovus. "In addition, these providers mandate through service level agreements (SLAs) that they keep keys to the data. We believe that data should be considered a corporation's intellectual property and should not be exposed. The LeoNovus sovereignty distributed cloud is a product designed to address these issues and concerns."
The Company provides the optimal solution by providing highly reliable cloud services — and it offers its customers full control over their Intellectual Property unlike many traditional data-centre providers.
About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus® is a publically traded company on the Toronto exchange with offices in Sunnyvale, CA. and Ottawa, Ontario. The Company has launched an innovative high performance browser-based SMART MEDIA PLATFORM with a remotely managed cloud system that provides HDTVs and other connected devices with unprecedented access to features, content, and functionality over the web without the cost, overhead and support of a PC. This approach delivers an extremely flexible just-in-time service model to multiple markets including residential, hospitality and health care. In parallel, LeoNovus utilizes its proprietary Dark Core™ technology with a unique ability to "light up" idle dark processors in hardware systems for purposes of building Intelligent Networks. This allows the Company to offer geo-dispersed cloud services for new revenue streams while reducing costs and increasing performance via distributed networks.
LeoNovus shares have traded on the TSX Venture Exchange since June 10, 2009. Further information about LeoNovus can be found in its filings with Canadian securities regulators, which filings are available at http://www.sedar.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information included in this press release is forward-looking and may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with LeoNovus' growth, the state of the financial markets, regulatory risks and other factors. Forward-looking statements included or incorporated by reference in this press release include statements with respect to proposed terms of, and the intended use of proceeds of, the Offering. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, LeoNovus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undo reliance on any statements of forward-looking information that speak only as of the date of this release. More detailed information about potential factors that could affect LeoNovus' financial and business results is included in public documents LeoNovus files from time to time with Canadian securities regulatory authorities and which are available at www.sedar.com.
All trademarks, registered trademarks and brands mentioned in this release are the property of their respective owners.
SOURCE: LeoNovus Inc.
For further information:
Gordon Campbell, Chief Executive Officer, +1-408-541-9400, Fax +1-408-541-9410, [email protected]