Vancouver, BC / TheNewswire / May 15, 2018 - Eight Solutions Inc. (TSXV:ES) ("Eight Solutions" or the "Company"), a technology company on a mission to make data easy, today announced that two prominent companies in their respective industries signed software license agreements for the cloud-based Cumul8 data analytics and Industrial Internet of Things (IIoT) platform. By signing these agreements, the companies have shown the value they place in the real-time and predictive insights that the Cumul8 platform delivers on asset and operational health.
These contracts generate both monthly recurring revenue ("MRR") for software licensing and Professional Services revenue for custom development.
Both customers are leading companies in North America interested in pursuing the digital transformation of their businesses. This a common thread amongst most companies - all are collecting streaming, real-time data from sources such as disparate databases and sensors on various heavy equipment, but few have figured out an economical way of first connecting the data and then getting real value and return from it.
The Cumul8 platform has been designed and developed to help these companies get value from their data through quick insights from specific or broad-based predictions. Using a value-driven methodology to create predictive models, the Cumul8 team asks clients to imagine opportunities for improving their business; leans on their domain expertise to conceptualize data models for achieving those goals; connects the relevant data sources within the Cumul8 platform; and then drives the modeled Key Performance Indicators as values to monitor, visualize, shape, share, and drive better outcomes throughout an organization.
"We're excited about the opportunities for Cumul8 presented by these two clients, now and in the near future," says Rory Armes, CEO of Eight Solutions. "It is been a rather crazy software invention journey, but I'm proud that our team has pushed the Cumul8 platform to the point where it can easily drop into existing organizations and quickly show real value in the world of prediction, artificial intelligence, and IIoT - regardless of industry and even when working with deep and raw data sources. We look forward to working with more companies needing a robust, real-time, and predictive analytics platform that will help them achieve faster, actionable insights for better outcomes."
About Eight Solutions
Eight Solutions is a technology company on a mission to make data easy. With a focus on data analytics and data distribution, Eight Solutions brings together highly visual and user-centric solutions designed and developed by a team of entertainment and gaming industry veterans with a combined 60+ years of experience working on the world's most successful films and video games. The Eight Solutions product portfolio includes Cumul8, an Industrial Internet of Things (IIoT) data analytics platform providing real-time and predictive insights that help businesses imagine and realize speed to value with their data; and Jetstream, a secure high speed file transfer application enabling users to focus on their own work product rather than how it is delivered. For more information, visit www.eightsolutions.com.
On Behalf of the Board of Directors
(signed) "Rory Armes"
Chief Executive Officer, President and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Although Eight believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
For more Information, please contact:
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
Phone: (604) 669-8885
Fax: (604) 669-8855