Leonovus Announces Federal Government Trial

Leonovus (TSXV:LTV) announced major trail of Leonovus software for a large department in the Government of Canada.

The company offers leading software defined storage solution combined with auditing and management capabilities that contribute to governance, risk management and compliance for modern enterprise.

As quoted in the press release:

In February 2018, Leonovus announced its approval for the GOC’s Build inCanada Program (“BCIP”), which entitles the Company to a $500,000purchase grant and a $1.5M simplified supply arrangement for any federal government department that purchases Leonovus software. We are now in detailed discussions with ten different government departments to install our industry-leading software defined storage solution. Today we are pleased to announce closing of a comprehensive trial with one of these departments.

This federal department is faced with managing a massive amount of data with the continuous pressure to reduce costs, and the ever-increasing requirements for compliance and ultra-secure data storage and retrieval.

Applying our unique patented ‘encrypt – shred – spread’ data storage algorithms results in military-grade cyber security and uses the cloud to significantly reduce storage costs. The Leonovus hybrid, multi-cloud data storage capability ensures that the department’s storage assets are not stranded or locked into a specific cloud storage provider. Moreover, Leonovus software enables the department to take advantage of the continuous downward pricing trends for cloud storage services.

“Having a major Government of Canada department install our product is tremendous news for the company. We recently completed CENGNresiliency testing.  Our software-defined storage solution will help government departments dramatically reduce their storage costs and ensure the protection of public data. This trial will last three months, and the plan is to move this department into production and a standard supply arrangement in the fall of 2018. We anticipate that this is the first of several government departments to trial and install Leonovus software,” said Michael Gaffney, Chairman, and CEO.

Click here for the full press release.