VSBLTY, HCL TECHNOLOGIES & TECH MAHINDRA AMONG FIVE COMPANIES CREATING NEW FIRM TO FOCUS ON LARGE IAAS PROJECTS
Philadelphia, PA, Sept. 08, 2021 (GLOBE NEWSWIRE) — VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS) (“VSBLTY”), a leading software provider of security and retail analytics technology, announced it is one of the five founding partners of Austin GIS, a new company that will focus on large IaaS projects leveraging computer vision, machine learning and infrastructure. IaaS stands for Infrastructure as a Service and is emerging as an innovative and creative way to finance large IT infrastructure projects. HCL Technologies and Tech Mahindra are also founding investors, along with two additional participating firms, including a Fortune 500 company, that will be named later.
The founding companies are investing $6 million USD in an initial seed round financing. HCL and Tech Mahindra are investing $1.25 million USD each in the Delaware, USA-based Infrastructure as a Service startup. The investment will net HCL 13.9 percent Series A preference shares of Austin GIS while Tech Mahindra will gain 13.8 percent.
VSBLTY Co-founder & CEO Jay Hutton announced that his company is making a $1 million USD investment in Series A Preferred Stock to purchase a 10 percent seed position in Austin GIS. Hutton pointed out that Series A shares have a preference on dividends, liquidation and other rights, adding, “VSBLTY is excited to be joining other leading global tech companies as partners in this strategic ground floor joint venture.”
As an industry leader in computer vision and retail analytics, as well as security technology, VSBLTY is the exclusive retail analytics and computer vision provider to the new entity, which is designed to take advantage of the growth opportunities in the industries of Internet of Things (IoT) and 5G RAN. VSBLTY will focus on Device as a Service, Retail Analytics as a Service, and Smart City Analytics as a Service.
VSBLTY technology provides enhanced customer engagement and audience measurement including store traffic and customer demographics. Its industry-leading VisionCaptor™ and DataCaptor™ software combine motion graphics and interactive brand messaging with cutting-edge computer vision measurement and insights. VSBLTY’s AI-driven software, Vector™, provides advanced facial recognition that is crucial to enhancing security in a variety of environments.
Investor Relations
CHF Capital Markets
Cathy Hume, CEO, 416-868-1079, x251
Harbor Access LLC
Jonathan Paterson, 203-862-0492
Jonathan.Paterson@HarborAccessLLC.com
Graham Farell, 416-842-9003
Graham.Farell@HarborAccessLLC.com
CONTACT: Linda Rosanio, 609-472-0877
About VSBLTY (vsblty.net)
Headquartered in Philadelphia, VSBLTY (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) (“VSBLTY”) is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning.
FORWARD-LOOKING STATEMENT
Certain statements in this news release constitute forward-looking information within the meaning of applicable securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects,” “believes,” “anticipates,” “budget,“ scheduled,” “estimates,” “forecasts,” “intends,” “plans,” and variations of such words and phrases, or by statements that certain actions, events or results “may,” “will,” “could,” “would,” or “might,” “be taken,” “occur,” or “be achieved.” Those forward- looking statements include a number of statements related to the outlook for future operations, including statements about VSBLTY’s business plans, booking new projects, revenue growth, and new opportunities.
Forward-looking statements are neither historical facts nor assurances of future performance. Forward-looking information contained in this news release is based on certain assumptions regarding, among other things, expected growth, results of operations, performance, industry trends and growth opportunities. While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to: pricing for the Company’s products and services; the ability to enter into contracts and ability of third parties to honor their contractual obligations; the decisions of third parties over which the Company has no control; changes to government regulations; force majeure events; limits on the ability of the Company to implement and fulfill its business strategies; general economic conditions; adverse industry events; operating costs exceeding the Company’s expectations; loss of markets or failure to enter new markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of the Company to implement its business strategies including expansion plans; and competition. The foregoing factors are not intended to be exhaustive, and readers should refer to the detailed risk factors described in VSBLTY’s Annual Information Form which is available under the Company’s profile at www.sedar.com. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
This news release includes financial outlook related to future revenue and financial performance, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above paragraphs. Such financial projections contained in this news release were made by management as of the date of this news release and are provided for the purpose of providing readers with an understanding of the Company’s business plan. Readers are cautioned that the financial outlook contained in this document should not be used for purposes other than for which it is disclosed herein.
CONTACT: LINDA ROSANIO VSBLTY, INC 609-472-0877 LROSANIO@VSBLTY.NET
