Verecloud’s Nimbus Xchange to Leverage GigaSpaces eXtreme Application Platform

Verecloud (OTCBB:VCLD), which enables communications service providers (CSPs) to capture market share in the emerging cloud computing services business, today announced that its groundbreaking Nimbus Xchange cloud services brokerage platform will leverage the GigaSpaces eXtreme Application Platform (XAP) solution for communications companies delivering cloud services.

Cloud brokerage business models for CSPs demand real-time scalable processing with data-grid capabilities – needs that both GigaSpaces and Verecloud meet. GigaSpaces XAP is a high-end application server with the world’s leading in-memory data grid built-in, offering predictable scalability, performance under peak demand, and up to 500 percent improvement in hardware utilization. It is the only application server that allows enterprises to build once and run on any hardware in any environment, both on and off the cloud.

“As we continue to evolve Nimbus Xchange, we are looking to leverage the best solutions our current partners offer as a way to grow our cloud services broker platform,” said John McCawley, chief executive officer of Verecloud. “GigaSpaces’ XAP solution is ideal for our customers who want the flexibility of working in both cloud-based and on-premise environments.”

GigaSpaces will provide a dynamically scalable application platform enabling high volume transaction processing of cloud services ordered through Nimbus Xchange. GigaSpaces’ transaction processing technology is the foundation of Verecloud’s cloud services broker platform, allowing a CSP to process a large number of transactions in a reliable and flexible manner as well as manage its transaction resources.

Verecloud’s development of Nimbus Xchange has been echoed by Gartner’s recent definitional piece “Defining Cloud Services Brokerage: Taking Intermediation to the Next Level,” which outlines key aspects of the cloud service brokerage business. Gartner outlined key aspects of the business function as the following:

Simplifying cloud service onboarding into the CSP product portfolio, reducing the time and cost to bring innovative, over-the-top solutions to customers
Negotiating the interactions between service providers and service consumers, with a platform that enables automated processes for cloud service lifecycle management
Providing a cloud services delivery platform that allows the cloud service brokerage to add significant, unique value to aggregated applications to meet the needs to their customers

Verecloud has a long history of providing solutions to the complex problems of communications services providers. The company designed Nimbus Xchange to enable CSPs to participate in the value chain of over-the-top applications and expand their existing service portfolio. Nimbus Xchange also helps CSPs support the customer experience for their own products as well as those they offer from cloud services partners by providing an interactive service management layer that interfaces between the CSP’s existing infrastructure to address all phases of the cloud services lifecycle.

“The addition of GigaSpaces’ XAP solution to Verecloud’s cloud services broker services platform further demonstrates how the platform is in line with the broader conceptual findings that Gartner recently released,” said Dr. Hossein Eslambolchi, chairman of 2020 Venture Partners and Verecloud board member. “Verecloud continues to be a true innovator in this space by adjusting its solutions to align to the current needs and trends of the industry.”

About Verecloud

Based in Englewood, Colorado, Verecloud enables communications service providers (CSPs) to capture market share in the expanding and lucrative cloud computing market. Verecloud’s cloud services broker platform, Nimbus Xchange, addresses the CSPs’ need to integrate their cloud services business with existing back-office systems which enable CSPs to drive new revenue opportunities. By collaborating with Verecloud, CSPs are positioned to capture a significant percentage of this exciting market by leveraging their trusted intermediary status as a cloud services broker. Learn more about Verecloud at: http://www.verecloud.com.

About GigaSpaces

GigaSpaces Technologies is a leading provider of a new generation of application platforms for Java and .Net environments that offers an alternative to traditional application servers. Its flagship product, XAP, is the only in-memory application platform that enables end-to-end scalability with a single product, to dynamically meet any load requirements. GigaSpaces customers depending on XAP reliability and sub-millisecond latency include Virgin Mobile, Nortel, Telefonica, and other telecom companies, as well as members of the Global Fortune 100.

For more information, visit http://www.gigaspaces.com.

Forward-Looking Statement

This release may contain projections and other forward-looking statements that involve risks and uncertainties. Forward-looking statements are projections reflecting management’s judgment and assumptions based on currently available information and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Future performance cannot be assured. Readers are referred to the documents filed by Verecloud with the Securities and Exchange Commission (SEC), specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Recent documents filed with the SEC can be found in the Investor Relations section of our website (www.verecloud.com). Verecloud believes the forward-looking statements in this release are reasonable; however, you should not place undue reliance on forward-looking statements, which are based on current expectations and speak only as of the date of this release. Verecloud is not obligated to publicly release any revisions to forward-looking statements to reflect events after the date of this release.

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