Sarment is set to launch KEYEES CHAT, co-developed with Blackberry, an encrypted app targeted at its “high-net” user base.
Sarmet Holding (TSXV:SAIS) announced on Monday (November 26) that it is partnering with BlackBerry (TSX:BB) to co-develop KEYYES CHAT, an encrypted messaging application that will feature identity and data security management.
Sarmet, a company engaged in luxury lifestyle business connecting enterprises with individuals through digital ecosystem, said the messaging application is the first of its kind and will be launched next year.
Sarmet said that the application is aimed at its “ultra-high” and “high-net” worth user base. The company aims to roll out the application on Apple’s (NASDAQ:AAPL) App Store and Google’s (NASDAQ:GOOGL) Play Store in the second quarter of 2019.
The KEYYES CHAT application will include features like voice, video and data transfer functionality apart from end-to-end encrypted chat. The product was developed on BlackBerry Spark Communications software development kit (SDK).
“Integrating this technology into Sarment’s digital ecosystem KEYYES is one of the steps we are taking to continue to provide our communities with useful tools they can trust,” Will Beattie, chief technology officer of Sarment, said in the release.
The app will also feature AES 256-bit encryption for data protection on a mobile network and into enterprise infrastructure.
“We started with bookings, purchases, deliveries and now we are adding communication to solve the issue of privacy and data security for our growing user-base,” Beattie said.
The company said that KEYYES CHAT will be part of the KEYYES ecosystem which which was launched earlier in the year. The app system is available in five cities across Asia and lets user discover insights and make bookings at featured lifestyle venues. The company is looking to expand its reach to 20 additional cities around the world in the next three years.
“We are extremely excited to be working with BlackBerry to address the cyber security and overall privacy of our users, and look forward to growing the breadth of our technology and specific application portfolio together in the coming months and years,” Quentin Chiarugi, CEO of Sarment Group, said in the release.
Chiarugi said that the app would be the company’s only communication tool as it plans to transfer all of its communications employees and partners to the KEYYES CHAT.
“KEYYES delivers a useful service for high-net worth individuals, whose data may be of value to those with malicious intent, and being able to trust in the integrity of the chat system will be a primary decision-making factor for them in considering the service,” Alex Thurber, GM of Mobility Solutions at Blackberry, said in the release.
Following the announcement, shares of Sarment remain unchanged from the Friday’s (November 23) closing price of C$2.81 as its shares were not traded on Monday. Sarment has a “Sell” ranking on TradingView with 12 verticals against, three in neutral and four in favor.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.