San Francisco and Ottawa – Feb 20, 2018 iCONECT CA Inc. of London, ON, the makers of the iCONECT-XERA document and video review platform already used to manage highly confidential information in some of the world’s highest-profile legal cases and LEONOVUS (TSXV:LTV) an Ottawa, Canada based software-defined storage and encryption technology company have executed an LOI committing the firms to create a combined product offering. This offering assists corporations to meet regulatory requirements and increase the security of sensitive documents and those used for legal cases as a component of their document management and eDiscovery workflow.
The Leonovus technology digitally scrambles and shreds electronic files, thus presenting an illegible pile of digital nuggets to anyone who gains unauthorized access to the files directly. For the review of the stored files, iCONECT has worked with Leonovus technical staff to integrate a method of reconstituting the digital nuggets and presenting documents, videos, and audio to files to eDiscovery users as if the file was always sitting in its native format. Features such as searching, sorting, organizing, relationship analysis, graphing and producing files are seamless to end users.
Corporations worldwide can use Leonovus’ patented military-grade encryption methodology, in combination with their iCONECT-XERA document and video review platform. Leonovus uses FIPS 140-2 level encryption (Federal Information Processing Standard), regarded as the benchmark for US and CDN military information encryption logs and the secure data nugget meta-data is Blockchain hardened. The resulting enterprise data storage leads to improved governance, ROI, ultra-security and reduced errors. The digital nuggets can also be distributed across multiple data storage services or devices, leading to an opportunity for significant savings when redistributing to lower cost storage.
“When we first saw the Leonovus technology, we were blown away with the potential to create a paradigm shift in eDiscovery file storage and security,” said Ian Campbell, CEO of iCONECT.
“Although this extra layer of security comes at a cost, it’s additional insurance against unauthorized access and manipulation of data. ‘It’s not a question of IF we’ll get hacked, it’s simply a matter of when,’ added a Senior Product Manager for a leading eDiscovery firm. The ability to create this level of security without disrupting our users’ workflow is key,” said Campbell.
The integration with Leonovus technology will be available in Q2 as an add-on module for iCONECT-XERA systems, both of which can be deployed behind a firm’s own firewall or in a secure cloud.
“The integration with iCONECT is a very exciting step as it was named as one of the 50 Most Valuable Brands of the year 2017 by Silicon Review. Their deep product knowledge and market penetration, regarding the protection and management of legal documents and their associated workflows, gives Leonovus a unique market insight for our product development team. Moreover, the real goal is to expand the sales of both companies with an unparalleled blockchain hardened data security and compliance solution for iCONECT customers,” said Michael Gaffney, Chairman, and CEO.
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Leonovus is a software solutions provider that offers the leading blockchain hardened software-defined object storage solution (SDOSS) and governance, risk management and compliance (‘GRC’) solution for the modern enterprise. Designed with the IT manager in mind, Leonovus’ patented algorithms virtualize, transform, slice and disperse data across a network of on-premises, hybrid or multi-cloud storage nodes – allowing for the most secure yet internally accessible form of object-based data storage that provides governance, risk management, and compliance across the entire solution. The advanced geo-distributed architecture minimizes latency, optimizes geo-availability, reduces remote backup costs and meets data sovereignty requirements. With its software and hardware agnostic design, Leonovus provides Petabyte scalability and allows the enterprise to utilize its existing idle storage resources, extend the useable lifespan of depreciated resources and improve the enterprise’s overall ROI.
This press release may contain forward-looking statements and information, which may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Leonovus’ growth, the state of the financial markets, regulatory risks and other factors. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws, Leonovus disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not place undue reliance on any statements of forward-looking information that speak only as of the date of this release. Further information on Leonovus’ public filings, including its most recent audited consolidated financial statements, are available at www.sedar.com.
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