SOURCE: Searchlight Solutions Ltd.

April 28, 2011 08:05 ET

Searchlight Solutions Signs Definitive Agreement to Acquire Linux Labs International and Enter HPC Cloud Marketplace

Gartner Says Cloud Computing Will Be as Influential as e-Business

ATLANTA, GA--(Marketwire - Apr 28, 2011) - Searchlight Solutions Ltd. (PINKSHEETS: SLLN) announced today that it has signed a definitive agreement for the acquisition of the majority control of the common stock of Linux Labs International Inc.

Linux Labs International Inc. is a hybrid engineering firm specializing in technologies that expand the field of high performance supercomputing including software as a service or Cloud computing in the HPC field. (www.linuxlabs.com)

This acquisition allows the Company to build a service offering in the HPC Cloud computing marketplace. Gartner Executive Programs worldwide survey of over 2,000 CIOs identifies Cloud Computing as the top technology priority for 2011.

Read more at Suite101: Cloud Computing: Future Trends | Suite101.com http://www.suite101.com/content/cloud-computing-future-trends-a340827#ixzz1KShNIz9E

And: http://www.gartner.com/it/page.jsp?id=707508

Closing is scheduled to be completed within the next 10 days.

Company management stated: "We are very pleased to complete an agreement to bring Linux into the Searchlight family, we look forward to closing."

About Us:

Searchlight Solutions Ltd. 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™. Linux Labs is responsible for developing some of the most innovative Linux based technologies today and they remain on the forefront of secure operating systems, database development and search engine functions. www.linuxlabs.com

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