LandStar, Inc. Announces that Data443 has Signed Letter of Intent to Acquire all Assets of ARALOC
August 01 2018 - 12:50PM
InvestorsHub NewsWire
LandStar, Inc.
Announces that Data443 has Signed Letter of Intent to Acquire all
Assets of ARALOC™
Accretive Acquisition of Market Leading Board Management &
Communications Services Platform to Close Before End of Q3
2018
Provides Meaningful Revenue, EBIT Contributions, Growth in
Monthly Recurring Revenue
Raleigh, NC -- August 1, 2018 --
InvestorsHub NewsWire -- LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the
“Company”), the parent company of Data443™
Risk Mitigation, Inc. (“Data443”), a leading data security and
privacy company, announced today that the Company has completed the
letter of intent to acquire all technology, sales assets, and
customers of Modevity’s enterprise cloud-based data storage,
protection, and workflow automation platform,
ARALOC™.
The combined operations of the
ARALOC™
platform provided (unaudited) EBIT contribution of
approximately $500K USD in 2017. High EBIT percentage
contributions are enabled by smart technology architecture and
cloud computing that scale profitably – enabling a very low
COGS.
The ARALOC platform is a
security digital content rights and distribution platform – hosted
in the cloud – enabled by custom Apple IOS, Android, Microsoft
Windows and Mac applications – branded as ARALOC or custom branded
for the customer. The core architecture enables several key
product verticals:
ARALOC successfully competes
in the growing Board Portal Software marketplace at Diligent, NASDAQ
Boardvantage, BoardPaq and others. ARALOC has been included in
numerous technology analyst recommendations since inception and is
recognized as one of the industry’s first products to deliver on a
SaaS-based approach with full encryption and digital rights
management for all digital content. Numerous global,
multi-billion-dollar companies have regularly depended on ARALOC
and its capabilities for over a decade.
The ARALOC platform also encompasses other
products including the SPARK Employee Communications Platform, Sales
Content Management, and publishing/distribution
of content for publishing clients. ARALOC provides
a high level of content security, audit trails, and analytics to
support today’s ever-increasing information security regulations
such as HIPAA, GDPR, Sarbanes-Oxley, ITAR, Gramm-Leach-Bliley Act,
and others.
“We are thrilled to announce
such a game-changing transaction for Data443, one that is
immediately accretive for the company,” said Jason Remillard, CEO
of LandStar and founder of Data443. “The acquisition of ARALOC
represents a milestone strategic investment that anchors our
ongoing investments in privacy, and cloud and data security. In
addition to the high quality and caliber of ARALOC’s technology and
customer roster – the core cryptography and Bring Your
Own Certificate (BYOC) capabilities while hosted on the leading
Microsoft
Azure cloud platform enables us to leapfrog competitors who are
simply starting in this arena. ARALOC has over a decade of
technology runtime to leverage - we simply couldn’t pass up this
opportunity.”
- more
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“I’ve known Jason and his team
for quite a while, and we’re thrilled to be a part of Data443’s
mission of developing a focused technology stack that’s dedicated
towards addressing the current and future challenges of information
security and privacy,” said Modevity, LLC President and Co-founder
Jim Coyne. “Together, ARALOC’s platform with additional
integrations such as ClassiDocs and other planned products and
acquisitions will address the rapidly changing and growing demands
of customers for integrated information security solutions that can
be deeply integrated to the rest of the enterprise – for both cloud
and hybrid-cloud applications.”
Management will be producing a
joint FAQ document in the coming days for investors – please sign
up here to be notified when it is posted: CLICK HERE
“Because of our familiarity
with the ARALOC team, we have been working closely with them to
complete the transition as efficiently as possible, while
continuing to grow the customer base and product set. We anticipate
minimal service disruption, as the transaction includes full and
ongoing supported transition of customers, code, sales, marketing,
and other operational facets of the business,” concluded Mr.
Remillard.
About LandStar,
Inc.
LandStar, Inc. (OTCPK: LDSR), through its wholly
owned subsidiary Data443™ Risk Mitigation, Inc., enables secure data –
across local devices, network, cloud, and databases – at rest and
in flight. ClassiDocs™, the company’s award-winning data
classification and governance technology, provides GDPR compliance
and DSAR management coupled with DLP, CASB, SIEM, and cloud
solutions to provide user-enabled, governance-enabled, up-to-date
security for every data point, every time. The WordPress-based GDPR
Framework enables organizations of all sizes to comply with the
GDPR and other privacy frameworks. ClassiDocs™ for Blockchain
provides an active implementation for blockchain transactions from
inadvertent disclosure and data leaks. For more information, please
visit www.data443.com.
Forward-Looking
Statements
The statements contained in
this release that are not historical facts are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Words such as “may,” “will,” “could,” “should,”
“expect,” “plan,” “project,” “intend,” “anticipate,” “believe,”
“estimate,” “predict,” “potential,” “pursuant,” “target,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. The statements in this press release
that are not historical statements, including statements regarding
LandStar’s plans, objectives, future opportunities for LandStar’s
services, future financial performance and operating results and
any other statements regarding LandStar’s future expectations,
beliefs, plans, objectives, financial conditions, assumptions or
future events or performance that are not historical facts, are
forward-looking statements within the meaning of the federal
securities laws. These statements are subject to numerous risks and
uncertainties, many of which are beyond LandStar’s control, which
could cause actual results to differ materially from the results
expressed or implied by the statements. These risks and
uncertainties include, but are not limited to the operations of
LandStar; results of litigation, settlements and investigations;
actions by third parties, including governmental agencies;
volatility in customer spending; global economic conditions;
ability to hire and retain personnel; loss of, or reduction in
business with, key customers; difficulty with growth and in
integrating acquisitions; product liability; cybersecurity risk;
and, anti-takeover measures in our charter documents.
Additional information
concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is
contained, from time-to-time, in LandStar’s filings with the
Securities and Exchange Commission and postings on the OTC Markets
news and information website. LandStar undertakes no obligation to
publicly update or revise any forward-looking statement.
Data443™, ClassiDocs™ ARALOC™ are registered trademarks of Data443
Risk Mitigation, Inc.
All product names, trademarks and registered trademarks are
property of their respective owners. All company, product and
service names used in this website are for identification purposes
only. Use of these names, trademarks and brands does not imply
endorsement.
All other trademarks cited
herein are the property of their respective
owners.
For Further
Information
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Contacts
Main Press Contact:
Susan Payne
susan.payne@data443.com
919.526.1070 Ext. 103
Investor Relations
Contact:
Matthew Abenante
Porter, LeVay & Rose,
Inc.
data443@plrinvest.com
212.564.4700