Searchlight Solutions Signs Definitive Agreement to Acquire Linux Labs International and Enter HPC Cloud Marketplace
April 28 2011 - 8:05AM
Marketwired
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
Forward-Looking Statements: The statements
in this press release or on the Company 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.
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Contact www.searchlightscientific.com Phone (866) 230 4056
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