TORONTO, Jan. 9, 2012 /CNW/ - Sprylogics International Corp., TSXV-SPY ("Sprylogics" or the "Company") is pleased to provide additional details related to the Corporate Update of October 19, 2011. At that time, the Company announced the formation of Sprylogics Mobile.
Sprylogics Mobile is focusing on the development of mobile applications, web services and mobile-centric data sets to capitalize on three key trends:
- The trillion dollar (according to Forrester Research) online-to-offline commerce market.
- Mobile Commerce Projections (ABI Research) of $120 Billion Dollars within the next 3 years.
- The massive flood of local advertising and commerce spending unleashed by companies like Groupon and LivingSocial.
Sprylogics Mobile is leveraging the Company's strengths in Agnostic Data Aggregation, Semantic/Machine Learning Technologies, and Data Visualization to solve real world problems for consumers.
The mobile team is currently developing two mobile solutions.
The first mobile initiative, named "The Best" is an innovative and disruptive mobile search and discovery application. This application utilizes machine learning and semantic technologies to aggregate and rank opinions and sentiment on places, businesses and products using social signals, traditional online media and online discussions.
While competitive, this is a highly fragmented space with no single, agnostic trusted source of reviews, rankings and ratings across places and products. Additionally, mobile application search solutions for places and products are increasingly challenging general search engines like Google and Microsoft's BING both in terms of search query volume and month over month growth.
"The Best" Mobile Application is currently in prototype for 3 markets in North America. The product is expected to begin closed beta in several additional major markets across North America by Spring 2012 and the core data set will be made available to select partners within the time frame as well.
The second application (codenamed "Liquid Messaging"), enables the application of Sprylogics' innovative semantic search technologies against the billions of mobile messages sent each day. The solution is being developed to help mobile messaging companies monetize their multi-million user bases in a consumer friendly way.
"'We are very pleased with the progress that our product and technology team has made in the last few months. We are committed to increasing shareholder value by continuing to leverage our considerable technology and management assets in order to bring world class products to market "said Marvin Igelman CEO of Sprylogics International.
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.
For further information:
Sprylogics International Corp.
David Berman, CFO, 905-761-9200 Ext.21 or [email protected]