IP Risk Control Signs Letter of Intent to Acquire ARALOC.com
SALT LAKE CITY, June 12, 2017 (GLOBE NEWSWIRE) -- Continuing its expansion into cloud-based data protection and management, IP Risk Control (OTCPK:APHD), signed a letter of intent to acquire all technology, sales assets and customers of Modevity’s enterprise cloud-based data storage, protection and workflow automation platform, ARALOC.
ARALOC is an industry-leading secure digital content distribution and communications platform that protects an organization’s confidential content and intellectual property assets from leakage – malicious or accidental – without impacting communications and collaboration between all stakeholders.
Originally developed in 2004, ARALOC is one of the industry’s first products to deliver on a SaaS-Based approach with full encryption and digital rights management for all kinds of content – fully controlled and maintained directly by the customer - with a high level of content security, audit trails and analytics to support today’s ever-increasing information security regulations such as HIPAA, Sarbanes-Oxley, ITAR, Gramm-Leach-Bliley Act and others.
The platform is natively based on the Microsoft Azure cloud infrastructure and integrates with Microsoft Active Directory (Azure & on premise) for a seamless single sign on experience. The ARALOC platform maintains a full set of RESTFul APIs for easy integration to any upstream or downstream application.
“When I first saw the ARALOC product and reviewed its architecture with the team, I knew we had a technology winner. Knowing that it has over 400 active clients and has almost a decade of sales and operations behind it – further validates the market acceptance of the product line,” states IP Risk Control’s President Jason Remillard. “Indeed, when multi-billion dollar global organizations rely on it for secure content distribution for their most critical information – renewing their service for years now – we are honored to continue those relationships, build and augment the product functionality and enhance its offerings ongoing.”
The ARALOC platform includes: SPARK Employee Communications Platform, Board Management Software, Sales Content Management, and publishing/distribution of content for K-12 educational clients.
“The IP Risk Control team is building an incredible and on-target technology stack that is relevant and highly-required for today's information security requirements,” added Modevity, LLC President and co-Founder Jim Coyne. “Combining ARALOC with functions such as ClassiDocs and other enhancements signifies both a deep understanding of the market and a continued leading data governance and storage management platform which is able to be deeply integrated to the rest of enterprise – for both cloud and hybrid-cloud applications.”
“The teams are working closely to complete the transition as efficiently as possible, while continuing to grow the customer base and product set. We expect the transaction to be accretive to earnings beginning Q2 FY 2018 and ongoing. The transaction includes the full and completely supported transition of customers, code, sales and marketing and other operational facets of the business. We are very excited to add this solution set to our offerings for our clients,” added IP Risk Control president Jason Remillard.
Customers, analysts and reporters that are interested in the technology and a roadmap briefing with the team will be able to learn how the product integrates with the main strategy of IP Risk Control and how it is positioned to be significantly differentiated from other data governance, data classification and Data Access Governance vendors’ solutions.
Terms of the transaction were not disclosed.
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