Feasibility Study Completed with Move Forward Outcome
SUNNYVALE, Calif., July 7, 2015 /CNW/ -- LeoNovus® Inc. ("LeoNovus") (TSXV: LTV), a leading Internet developer with its geo-distributed Cloud Services, announced today it has entered into a Letter of Intent (LOI) with Ionics EMS Inc. to roll out its geo-distributed cloud in the Philippines. Ionics is the Philippines leading electronics manufacturing-services provider listed on the Philippines Stock Exchange. With a successful 41-year track record in the industry, Ionics offers OEM and ODM services that includes product design and support, new product introduction, industrial engineering, manufacturing systems, and integrated supply chain management.
The two companies are currently working on the details and intend to sign a definitive agreement following the development of a roll out plan. Ionics has recently completed its feasibility study on the program with a go-forward outcome. Ionics has telecommunications partners in place and has identified customers that are in need of cloud storage and computing.
LeoNovus has released a new product called the Enterprise Service Node (ESN) that will support local in-country control of these cloud resources. This is ideal for Ionics, enabling them to manage cloud customers directly. The ESN connects into the LeoNovus Intelligent Cloud to receive and sync updates but can operate locally for purposes of handling customers directly, while reducing latency for better quality of service in country.
"LeoNovus offers an extremely efficient and secure geo-distributed cloud, as well as a low-cost structure," said Earl Qua, Vice President of Ionics EMS, Inc. "The companies within the Philippines market can benefit by leveraging existing computing end-points to meet their data growth, and do so in a cost-effective manner. We are looking forward to working with LeoNovus to service our rapidly growing market."
"We are extremely pleased to work with Ionics. They are an experienced company that brings in-depth industry knowledge to the partnership," said Gordon Campbell, CEO of LeoNovus. "The workforce for many companies is becoming more mobile and global with high-growth demand for secure data management. Secure high-capacity cloud services enable immediate interaction and transactions, and with the LeoNovus proprietary networking technology, companies can achieve highly efficient computing and significant cost savings at the same time."
This partnership represents a new market opportunity for LeoNovus in partnering with international companies that can enable the LeoNovus technology within their networks for deployment of cost-efficient, secure, high-quality cloud solutions in country. Ionics is a well-respected global company with key strategic partners in need of these services, which creates a significant business opportunity for both companies.
About LeoNovus Inc. (www.LeoNovus.com)
LeoNovus® is a publicly 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. This approach delivers an extremely flexible just-in-time service model to multiple markets including residential, hospitality and health care. Additionally, LeoNovus utilizes its proprietary processing technology to utilize idle 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.
About Ionics EMS Inc.
Ionics EMS Inc. is Philippines' leading electronics manufacturing services provider listed at the Philippine Stock Exchange. It is most experienced in the industry with a 41-year track record. It offers OEM and ODM services with product design and design support, new product introduction, industrial engineering and manufacturing system and integrated supply chain management. Among its clients are the prominent players in the global electronics scene and leaders in PC and computer peripherals, telecommunications, consumer electronics, industrial and medical equipment.
It has strong expertise and experience in telecommunication manufacturing, both wired and wireless. Some of the high-technology products are wifi, wimax, broadband and modular architectures, multiservice access nodes, satellite transceivers, etc.
For more information, please visit www.ionics-odm.com or contact [email protected].
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
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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 undue 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
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SOURCE LeoNovus Inc.
For further information: T: (408) 541-9400, F: (408) 541-9410, [email protected], Gordon Campbell, Chief Executive Officer, http://www.LeoNovus.com