SOURCE: Searchlight Solutions Ltd.

Searchlight Solutions Ltd.

July 13, 2011 16:05 ET

Searchlight to Add Government IT Departments to List of Target Industries for Its HPC Cloud Services; It Is Estimated That the $20B of the Federal IT Budget Will Be Spent on Cloud Services in 2012

ATLANTA, GA--(Marketwire - Jul 13, 2011) - Searchlight Solutions Ltd. (PINKSHEETS: SLLN) today discusses it opportunity to market its services to Government IT departments. The Company feels that the opportunity is significant as the below links and statistics show:

http://softwarestrategiesblog.com/2011/02/20/federal-cloud-computing-strategy-update/

  • Vivek Kundra, the U.S. Chief Technology Officer, estimates $20B of the total $80B US Federal Budget on IT will be for Cloud-based spending in 2012.

  • Department of Homeland Security (DHS), U.S. Treasury and Department of Defense are the three largest potential consumers of cloud computing IT systems and services. Estimates $2.5B spending each for DHS and Treasury departments alone.

http://www.cio.gov/documents/Federal-Cloud-Computing-Strategy.pdf

  • As per the above Federal Cloud Computing Strategy Document, Vivek Kundra, the U.S. Chief Technology Officer, stated the following about their Cloud First Initiative: "To harness the benefits of cloud computing, we have instituted a Cloud First policy. This policy is intended to accelerate the pace at which the government will realize the value of cloud computing by requiring agencies to evaluate safe, secure cloud computing options before making any new investments."

http://www.marketresearchmedia.com/2009/05/20/us-federal-cloud-computing-market-forecast-2010-2015/

  • Market Research Media reports that U.S. Federal Cloud Computing Market Forecast 2010-2015 will equal over $26B.

The Company through its subsidiary Linux labs has previously served government agencies and feels it can translate that success to its HPC Cloud Services.

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.

Contact Information