• Licenses Platform to Softection PTY Limited of Australia
TORONTO, Feb. 15, 2012 /CNW/ - Sprylogics International Corp. - TSX Venture: SPY ("Sprylogics" or the "Company") is pleased to announce that it has signed a definitive license agreement with Softection PTY Limited ("Softection") of Australia to license Sprylogics' Semantic Search Technology.
Softection develops Digital Asset Protection ("DAP") Enterprise solutions in the Data Loss Protection marketplace (which is growing at a rate of 20% per year according to The Radicati Group of Palo Alto, CA). Their current technology protects an organization's sensitive digital assets through encryption, logging and tracking.
Integration of the Sprylogics technology will fill the void left by other Data Loss Protection technologies by enabling the discovery, classification and tagging of sensitive unstructured data. The solution will also allow for the real time identification, classification and protection of all new digital assets to proactively enforce data security policies.
Softection will target the integrated solution at a number of key enterprise verticals, and initially, will pursue opportunities within the growing eHealth market.
"We look forward to this relationship and exploiting the opportunities from the combined technologies of Sprylogics and Softection", said Marvin Igelman, Sprylogics CEO. "We continue to execute on our strategy of building user-centric solutions with our core technology while completing strategic and complimentary license deals."
This license opportunity is directly related to the Company's previously announced strategy, "Sprylogics Platform" (see press release dated October 19, 2011) which relates to the licensing of the core search, semantic, and data acquisition technology to enterprise customers in the Financial Services, Health, Telecommunications and Media verticals.
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]