Tickers: XTSX:ES
Tags: Blockchain, Technology
Vancouver, BC / TheNewswire / October 30, 2018 - Eight Solutions Inc. (TSXV:ES) ("Eight Solutions" or the "Company"), a technology company bringing fast value to data, today announced an agreement with a large Canadian electrical contracting company rapidly expanding into the Industrial Internet of Things (IIoT) space. The company is turning to Cumul8, a cloud-based, integrated Artificial Intelligence (AI) platform, to create their predictive analytics product offering. This sale is the first step in a staged integration in line with their software and digital transformation plans.
The Smart Building industry is growing quickly and this company is set to make a significant impact in bringing enhanced value from data generated by building automation control systems for HVAC, lighting, and door access, along with solutions for networks, AV, and power quality in home, commercial, and industrial environments. All of these systems create data independently from one another. By connecting the disparate data sources within the Cumul8 platform and creating predictive data models, actionable insights that were never before available can now be achieved, leading to better optimization of building operations.
"We have designed and developed the Cumul8 platform to be industry agnostic and this agreement provides an entry into our next vertical market: smart building monitoring and maintenance," said Michael Devine, EVP of Sales and Marketing at Eight Solutions. "This market presents a lot of opportunity, from healthcare and educational facilities to manufacturing plants, residential homes, and more. Expanding into this new industry not only advances the Cumul8 platform and our customer base, but also allows this company to cost effectively and quickly execute on their digital transformation strategy."
Rory Armes, CEO of Eight Solutions, will expand on this topic and speak about 'Big Data and the Built Environment' at the upcoming BUILDEX Calgary conference in Alberta on November 7, 2018. Visit www.buildexcalgary.com for more information.
About Eight Solutions
Eight Solutions is a technology company bringing fast value to data through affordable Artificial Intelligence (AI). With a team of Media and Entertainment industry veterans, Eight Solutions brings together the 'fast to excitement' and 'ease of use' philosophies learned from years of producing the world's biggest video games and the experience of handling immense volumes of VFX data while working on Hollywood blockbuster movies. The Eight Solutions product portfolio includes Cumul8, an Industrial Internet of Things (IIoT) and predictive analytics platform providing real-time and predictive insights that help businesses harness and realize operational value from 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"
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:
Investor Relations
investor.relations@eightsolutions.com
Suite 100, 138 East 7th Avenue
Vancouver, British Columbia, V5T 1M6
Phone: (604) 669-8885
Fax: (604) 669-8855
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