SOURCE: Searchlight Solutions Ltd.

Searchlight Solutions Ltd.

August 09, 2011 08:00 ET

Linux Labs Announces Completion of Key Phase of Software Development for Its HPC Cloud Computing Service; Research Analysts Bullish on Cloud Computing Growth

ATLANTA, GA--(Marketwire - Aug 9, 2011) - Searchlight Solutions Ltd. (PINKSHEETS: SLLN) today announces its subsidiary, Linux Labs International, Inc., has recently completed a key upgrade of its proprietary NimbusOS for use as the Operating System for its High Performance Cloud Computing ("HPC2") service. Linux Labs NimbusOS was developed to be compatible and configurable for almost all HPC applications.

This recently finalized upgrade is an important milestone in preparing for the formal launch of the Company's HPC2 Service. The modified NimbusOS will run the servers that will allow customers to run their HPC applications.

Company Management stated: "We are pleased with the recent completion of our NimbusOS upgrade. We look forward to achieving more milestones as we move towards an official launch of our HPC2 Services. The cloud computing market has a bright future and we feel we are on our way to being well positioned to take advantage of the opportunity."

Cloud computing in general terms is not so much a new technology as it is a new delivery model, but its impact will be enormous. The following provides insight from research analysts that are bullish on the future growth of the cloud computing space:

  • AMI Partners has a clear outlook for cloud computing, forecasting U.S. spending on all cloud services at $49 billion by 2015 by SMB organizations alone. Factor in probable enterprise spending (usually set at 55 percent to SMBs' 45 percent), and you're around $110 billion annually. But that's just the U.S. Figure about double that for the global spend, and the AMI number could top $200 billion.
  • Gartner, the analyst firm of choice for many enterprises, is bullish on cloud computing adoption. Like IDC, Gartner believes cloud computing will be big, with nearly every Fortune 500 company having at least one business-critical application "in the cloud" by 2015. http://channelnomics.com/2011/06/23/cloud-spending-numbers-big-irrelevant/

About Us:
Searchlight Solutions Ltd. (PINKSHEETS: SLLN) is a technology venture holding company that provides business development and high level management services for early stage technology companies who are pursuing the benefits of the public marketplace.

Searchlight Scientific Inc. is a next generation data services company focusing on developing and growing cloud based solutions to solve tomorrow's computing challenges. www.searchlightscientific.com

Linux Labs International Inc. is a hybrid engineering firm specializing in technologies that expand the field of high performance supercomputing. Linux Labs designs and builds high-performance supercomputers utilizing their proprietary NimbusOS™. www.linuxlabs.com

FORWARD-LOOKING STATEMENT DISCLAIMER
Forward-Looking Statements: The statements in this press release or on the Company's website and any other statements relative to the Company, which are not historical facts, are forward-looking statements -- that is, statements related to future, not past, events. These statements may be identified by words such as "expects," "looks forward to," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "project" or words of similar meaning. Such statements are based on the current expectations and certain assumptions of the Company's management, and are, therefore, subject to certain risks and uncertainties, including but not limited to, costs and difficulties related to the state of the Company's current operations, applicability of the Company's technology, costs, delays, and any other difficulties related to the Company's business plan, the company's sources of liquidity, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, marketability of the Company's products and services, and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. A variety of factors, many of which are beyond the Company's control, affect the Company's operations, performance, business strategy and results and could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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