LeoNovus Inc. ("LeoNovus" or the "Company", a leading developer of geo-distributed cloud services announced today, that the Company has entered into a strategic consulting relationship with KasTech Inc. ("KasTech"). KasTech has track-record expertise in transforming organizations to leverage disruptive technology and innovative business practices to accelerate overall corporate objectives. KasTech's professional services have implemented cloud programs into large private and public sector organizations. Their proven methodology begins with a strategy to transform businesses into a lean, agile, customer-centric organization, followed by business execution and the implementation of the Cloud, Big Data, and the Internet of Things (IoT) technologies.
As part of the consulting agreement, KasTech seeks to develop key products and services to appeal to the growing market demands of IoT and Big Data based on LeoNovus' unique and innovative dark-core processing and geo-distributed networking technologies. In addition, the two companies will collectively refresh and enhance the sales and marketing activities to drive revenue acceleration and elevate the LeoNovus brand to increase corporate visibility.
The incremental product line will be accomplished through a Team 2 approach in which the team is paid as consultants. All consulting fees are payable on success and may be subject to TSX approval. It should be noted that all IP and new products are to be the property of LeoNovus under this agreement.
"Strong market leadership is built through partnerships and engagement with the broader marketplace," said Gordon Campbell, CEO of LeoNovus. "We are very pleased to be working with KasTech and welcome their contribution on business alignment for growth and broader capital market visibility."
"We see major opportunity with LeoNovus' technology to accelerate their business for revenue growth and the potential to become market leaders in the next evolution of cloud computing." stated Paul J. Harding, founder and president of KasTech. "LeoNovus has a wealth of intellectual property and innovative technologies that can pioneer the forecasted $1.7 trillion dollar 'IoT' market by 2020."
"The Team 2 product approach is ideal," remarked Dan Willis, president and chief architect of LeoNovus. "The vision and expertise they bring in terms of knowledge of the cloud and IoT market allows for immediate and positive impact to the company."