ITCI Invictus Technologies



LeoNovus Inc.

TSX VENTURE : LTV


May 14, 2014 06:00 ET

LeoNovus Announces ITCI Invictus Technologies as Its Partner for the Managed IT Services Market

Partnership Doubles LeoNovus' Current Capacity for Its Virtual Distributed Data Center

SUNNYVALE, CALIFORNIA--(Marketwired - May 14, 2014) - LeoNovus® Inc. ("LeoNovus") (TSX VENTURE:LTV), a leading Internet and cloud provider with its geo-dispersed distributed cloud services, announces today an exclusive agreement for Canada with ITCI Invictus Technologies for the managed IT services market. This partnership enables LeoNovus to double its current capacity for its virtual distributed data center, strengthening LeoNovus' ability to offer high-speed and efficient cloud-based services. ITCI will be able to leverage LeoNovus' patented cloud-based technologies for its further expansion into Canada's IT market for outsourced managed services and products while lowering cost and generating revenue from this high growth cloud market.

As part of this agreement, LeoNovus licenses its proprietary client software onto ITCI computing devices that can then authenticate the LeoNovus geo-dispersed distributed network, thus expanding the virtual distributed data center. This adds high-value, on-demand, scalable compute-and-storage resources that increase reliability and redundancy with higher security for greater disaster recovery.

According to Research and Markets (www.researchandmarkets.com), a research firm, the managed services market is growing from $142 billion in 2013 to $256 billion by 2018, at a CAGR of over 12%. This market has witnessed accelerated growth in recent years due to advancements in cloud computing, big data and mobility services. Such outsourced services enable organizations to bring in the competencies they lack on an as-need basis; or to replace functions or processes that undergo huge recurring costs. Outsourced managed services reduce the recurring in-house IT costs by 30-40% and bring about 50-60% increase in efficiency.

"By utilizing LeoNovus' geo-dispersed data storage, ITCI is now able to offer hundreds of its clients the most secure and advanced computing solutions," said Hoss Astaraki, President of ITCI. "I believe we can transform the way data is managed and accessed, while enhancing security beyond any solution currently available in the industry. This will create Canada's largest, most environmentally friendly, and cost-effective virtual data center."

Mr. Astaraki further explained, "In 2005, it was ITCI who pioneered the first private cloud-computing infrastructure in Canada. As a result, we were able to eliminate on-site server requirements for our clients, which in turn saved them millions of dollars in technology expenditures. Once again, with the creation of Canada's first geo-dispersed distributed virtual data center, ITCI is positioned to offer cutting-edge technology to thousands of users, with plans to expand service offerings to millions of users across Canada in the coming months."

"Cloud computing is a boon to businesses who are responding to the resource and fiscal fluctuations of their markets," said Gordon Campbell, CEO of LeoNovus. "The workforce for many companies is becoming more mobile and global, and it expands and contracts to meet real-time demands. 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 marks LeoNovus' entry into a new vertical market that expands its geo-dispersed distributed endpoints beyond current markets such as the hospitality, which allows for greater reach across a broader area network.

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.

About ITCI Invictus Technologies (www.itci.ca)

ITCI Invictus Technologies Inc. is an established, innovative technology service company serving hundreds of professional companies across Canada. Invictus Technologies provides IT infrastructure support, managed services, technical support, hosted environment including email and file servers, remote backup, VoIP services, ISP, disaster recovery and much more to thousands of users. Customers are able to access an array of services through one reliable provider - ITCI Invictus Technologies Inc.

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.

This press release may contain forward-looking statements and information, which 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 or guarantees 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 disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on LeoNovus' public filings, including their most recent audited consolidated financial statements, are available at www.sedar.com.

Contact Information