Pivot Technology Solutions (TSX:PTG)
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6 Months : From Jun 2019 to Dec 2019
TORONTO, June 21, 2019 /CNW/ - Pivot Technology Solutions, Inc. (TSX: PTG), ("Pivot"), a full-service information technology provider, today announced that the United States Patent and Trademark Office (USPTO) has approved its patent application for its breakthrough Smart Edge™ platform for mobile edge computing.
USPTO Patent NO. 10,341,868 is set to issue on July 2, 2019 for Smart Edge's proprietary mobile edge computing platform. The US Patent Office cited the imbedded multi-layered security as a key reason for patent application approval. Smart Edge is specifically designed with Edge Native Security to protect its enterprise customers from cyber security threats at the edge. The patent will be valid for a 20-year term.
"This is an important and validating milestone for Smart Edge and Pivot that recognizes the tremendous thought leadership and intellectual value we bring to the emerging Multi-access Edge Computing marketplace," said Pivot President and Chief Executive Officer Kevin Shank. "By securing this patent, we safeguard our IP as we expand Smart Edge's market penetration through our commercialization efforts. We are delighted with this development, which certainly recognizes the distinct value inherent in Smart Edge and the pioneering work and investments we've made it bringing it forward."
Smart Edge is an innovative developer platform designed to support enterprise Multi-Access Edge Computing (MEC) solutions. Smart Edge's MEC enables real-time, high-bandwidth, security-enabled low-latency access to latency-dependent applications across various industries such as retail, telecom and media and for enterprise companies. Built on high-performing Intel® scalable processors, Smart Edge's application environment supports new opportunities and revenue streams for users, while reducing ongoing edge total cost of ownership.
Through use cases to date, the Smart Edge solution has demonstrated its ability to improve performance, enhance user experiences and reduce ongoing edge total cost of ownership – all key factors in customer adoption of edge technologies.
Bob Pike, one of the original developers of the Smart Edge platform and the interim Chief Executive Officer of Smart-Edge.com, Inc., a wholly owned subsidiary of Pivot established to commercialize the technology, said: "Receiving this patent is a fundamental step forward in our business plan. It sends a strong signal to the marketplace that Smart Edge is an indispensable invention that is uniquely capable of addressing the needs of IT users who want to harness all the advantages of edge computing. We believe our Edge Native Security features will be well received by security conscious enterprise customers."
About Smart Edge
Pivot created Smart-Edge.com, Inc. as a wholly owned subsidiary focused on driving commercial penetration of the platform, which has been endorsed by several leading organizations. Most recently, Smart Edge received Intel®'s 2019 Partner of the Year Award for Excellence in Accelerating Innovation in Network Communications and the prestigious Frost & Sullivan Technology Innovation Award in recognition of Smart Edge's industry leadership in enabling reliable and deterministic access to enterprise applications at the network's edge. For more information, visit https://smart-edge.com/.
About Pivot Technology Solutions
Pivot is a leading information technology infrastructure and services provider to approximately 2,000 customers, including many members of the Fortune 500. With offices throughout North America, Pivot uses its knowledge and local presence to help corporations, governments and educational institutions design, build, implement and maintain advanced computing and communication infrastructure. For more information, visit www.pivotts.com.
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements include statements regarding the expected issue date of the Smart Edge patent, customer adoption of edge technologies, the reception of the Edge Native Security features of the Smart Edge technology by security conscious enterprise customers, the sales potential of the Smart Edge technology platform, and the potential new opportunities and revenue for users of the Smart Edge technology. Pivot uses words such as "may", "would", "could", "will", "likely", "expect", "believe", "intend", "anticipate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by Pivot in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether the expected issue date of the patent, customer adoption of edge technologies, the reception of security conscious enterprise customers, the sales potential of the Smart Edge technology platform, and the potential new opportunities and revenue for users of the Smart Edge technology will conform to Pivot's expectations and predictions is subject to any number of risks, assumptions and uncertainties, including the risk that Pivot's expectations for customer adoption of edge based technologies may not come to fruition, the enforceability of the Smart Edge patent, and other risks detailed in the Company's Annual Information Form for the year ended December 31, 2018 available at sedar.com. Many factors could cause Pivot's actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. The "forward-looking statements" contained herein speak only as of the date of this news release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Intel is a trademark or registered trademark of Intel Corporation in the United States and other countries.
SOURCE Pivot Technology Solutions, Inc