Skkynet Completes Acquisition of Nic Corporation
11 November 2014 - 12:30AM
Business Wire
Adds embedded systems expertise, complementing
Skkynet’s Secure Cloud Service™
Skkynet Cloud Systems, Inc. (“Skkynet” or “the Company”)
(OTC.BB:SKKY), a global leader in real-time cloud information
systems, is pleased to announce that it has completed the
previously announced acquisition of Nic Corporation of Osaka, Japan
(“NiC”). Details of the transaction are available in the company’s
Form 8-K filed with the United States Securities and Exchange
Commission (SEC).
NiC develops software that runs on a wide variety of embedded
hardware devices allowing the devices to connect to Skkynet’s
Secure Cloud Service™. NiC has provided software and hardware
development services to the embedded computing industry for over
twenty years. NiC software development includes expertise in
operating systems such as UNIX, VX-Works, Linux, and iTRON, and in
implementing CAD systems, web systems, drivers, and related
applications on MC68K, PowerPC, DSP, SH, ARM and other devices. NiC
also designs a wide range of hardware boards, logic chips, custom
hardware, and networking systems.
Mr. Akira Iwata, President of NiC, commented, “Skkynet has
developed a disruptive and secure technology for remote access to
industrial devices, processes and systems for monitoring and
supervisory control in real time. We believe there is significant
demand for cloud-based services that enable enterprises to monitor
and control industrial devices and systems from anywhere in the
world. The future for embedded devices is to connect directly to
the Internet (the “Internet of Things”), and only Skkynet provides
the robust and secure environment that our customers demand. We
look forward to joining the Skkynet team and supporting the
Company’s growth plans in Japan and around the world.”
Paul Thomas, President of Skkynet, stated, “We are excited to
complete the acquisition of NiC given their particular expertise in
embedded hardware. These capabilities will help advance our cloud
strategy and will be particularly useful in collaborating with our
hardware partners and resellers in Japan. The acquisition will be
immediately accretive and the fact that NiC shareholders received a
significant portion of the consideration in Skkynet Common Stock
illustrates their confidence in the strength of the combined
companies.”
About Skkynet Cloud Systems, Inc.:
Skkynet Cloud Systems, Inc., through its wholly owned
subsidiaries Cogent Real-Time Systems Inc. and Nic Corporation, is
a leading developer of DataHub® and VINE™ software, Secure Cloud
Service™ and related hardware, systems and facilities for
collecting, processing and distributing real-time information over
networks. This capability allows our clients to both locally and
remotely manage, supervise, and control industrial processes,
embedded devices, and financial information systems. Through
clients’ web-based assets, WebView™ enables data connectivity and
visualization over the cloud, providing them and their customers
the necessary ability and tools to observe and interact with these
processes and services in real time, empowering them to fully
control their systems and analyze their data. DataHub® and WebView™
are trademarks used under license.
Safe Harbor:
This news release contains “forward-looking statements” as that
term is defined in the United States Securities Act of 1933, as
amended and the Securities Exchange Act of 1934, as amended.
Statements in this press release that are not purely historical are
forward-looking statements, including beliefs, plans, expectations
or intentions regarding the future, and results of new business
opportunities. Actual results could differ from those projected in
any forward-looking statements due to numerous factors, such as the
inherent uncertainties associated with new business opportunities
and development stage companies. We assume no obligation to update
the forward-looking statements. Although we believe that any
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that they will
prove to be accurate. Investors should refer to the risk factors
disclosure outlined in our annual report on Form 10-K for the most
recent fiscal year, our quarterly reports on Form 10-Q and other
periodic reports filed from time-to-time with the Securities and
Exchange Commission.
Contact:
Crescendo Communications, LLCTelephone: (212) 671-1020Email:
skky@crescendo-ir.com
or
Skkynet Cloud Systems, Inc.Paul E. Thomas, PresidentOffice:
(888) 628-2028Fax: (888) 705-5366Web: http://skkynet.comEmail:
ir@skkynet.com
Crescendo Communications,
LLC212-671-1020skky@crescendo-ir.comorSkkynet Cloud Systems,
Inc.Paul E. Thomas, 888-628-2028PresidentFax:
888-705-5366http://skkynet.comir@skkynet.com
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