Accretive
Acquisition of Identity and Access Governance Leader
Expected to Close Before End of
2018
N8 Identity
brings 12 month run rate of $2.6 mil
in revenues and 700k+ EBIT
Contributions; Facilitates Significant Ramp-Up of Data Security and
Privacyacquisition
strategy
RALEIGH, North Carolina --
November 8, 2018 -- InvestorsHub NewsWire -- LandStar, Inc.
(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 signed a letter of intent to acquire all
technology, sales assets, and customers of N8 Identity ("N8"),a
leader in agile, cloud-based identity governance solutions. N8
Identity had revenues of 2.6 mil in last 12 months and had EBIT of
700k+. Landstar subsidiary Data 443 acquired N8 for $3.2
Million in cash and restricted stock.
N8 Identity has been
architecting, implementing, and managing large complex Identity and
Access Management (IAM) ecosystems since 2000. N8 Identity's
award-winning Identity-as-a-Service governance platform,
TheAccessHub, is an industry game-changer. TheAccessHub features a
Artificial Intelligence-driven risk engine, which represents a new
and intelligent shift in identity governance by providing Access
Advisory and Peer Access analytics, virtually eliminating the
operation and security challenges associated with previous
generation role discovery, engineering and management
solutions.
Designed in the cloud and
mobile-first, TheAccesHub runs on Microsoft's Azure platform,
offering fast and simple implementation with no customization or
coding required.
In addition to its suite
of proprietary solutions, N8 currently manages more than one
million employee and customer identities across its managed service
customer base, leveraging the Azure platform and transitioning
customers to the cloud. N8's customer base includes some of the
world's largest organizations in the financial, insurance,
telecommunications, government, retail, utilities, and
manufacturing sectors.
N8 Identity has recently
successfully delivered and packaged a data security offering for
the medical marijuana space in Canada. In light of the recent
data breach of Canada Post exposing 1000's of user's personal
information reported on November 7 - we feel that our N8
Identity Personal Privacy offering will be the gold standard in
the $8 billionMedical Marijuana space.
Jason Remillard, CEO of
LandStar and founder of Data443, stated, "We believe that N8's
technology and team will be a tremendous addition to Data443. Their
presence in Toronto, Canada will allow us to rapidly
scale the business and tap into new revenue streams and
opportunities within their substantial and well-known customer
base. The combination of N8 with Data443 presents an excellent
strategic fit, as it enhances our capabilities in the
IAG/Compliance/Privacy space and helps us expand our footprint in
these domains. N8 brings a very strong and talented development and
product management team, a highly customer-centric culture and
strong capabilities that work seamlessly together to deliver great
customer service. A growing managed services offering is also
an exciting part of the business."
"The acquisition of N8
Identity, together with the recent close of our acquisition of
ARALOC, demonstrates what Data443 is striving to become: a one-stop
enterprise for data security and privacy solutions on a global
basis. What we provide is of a critical nature, regardless of the
market environment - data security and privacy will always be
important. We also have two additional acquisition targets with
which we remain in active negotiations. We believe transactions
like today's will only make Data443 a more attractive acquisition
partner," commented Mr. Remillard.
"We are thrilled to join
Data443 at this stage, where the importance of information security
and privacy has become essential and fundamental for companies,"
said Jay O'Donnell, founder and CEO of N8 Identity. "Being a
part of Data443, we'll be able to expand our suite of products and
services - while continuing to innovate and improve TheAccessHub
and N8 Identity's suite of IAG services with new resources, their
global distribution and reseller channel and continued acquisition
plan."
"We have been working
closely with Jay and the N8 Identity team for quite some time now,
well before our announced partnership in February, and we are very
excited to begin the integration process. Together, we will deliver
unparalleled world-class technology and solutions for the data
security and privacy space," concluded Mr.
Remillard.
About N8
Identity
N8 Identity Inc. has re-imagined identity governance with an agile,
cloud-based and mobile-first solution that brings security and
value to organizations of all sizes. N8 Identity addresses the
changing needs of modern businesses by intelligently managing
access across all devices, in the cloud, and the data center
through both its Managed Identity Services and TheAccessHub™, its
award-winning Identity-as-a-Service (IDaaS) governance
platform.
Founded in 2000, N8
Identity has always been focused exclusively on building scalable,
agile identity governance solutions, and has deployed nearly one
billion identities to date. Our goal is to help organizations
realize the vision of Autonomous Identity Governance™ with
AI-driven Identity solutions. Headquartered in Burlington,
Ontario, N8 Identity holds partnerships with Microsoft, CA, IBM,
Oracle, and others. Learn more at http://www.n8id.com
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 market leading
ARALOC™ platform is a highly secure, cloud-based platform for the
management, protection and distribution of digital content to the
desktop and mobile devices, which protects an organization's
confidential content and intellectual property assets from leakage
- malicious or accidental - without impacting collaboration between
all stakeholders. 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 https://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
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Contacts
Investor Relations Contact:
Matthew Abenante
Porter, LeVay & Rose, Inc.
data443@plrinvest.com
+1-212-564-4700