Full Disclosure mailing list archives
Lotus Fund Acquires Controlling Interest in PIVX Solutions
From: "Jason Coombs" <jasonc () science org>
Date: Fri, 8 Apr 2005 20:16:58 +0000 GMT
Lotus Fund Acquires Controlling Interest in PIVX Solutions From Co-Founders; Seeks to Leverage Company's Unique Windows Security Technology NEWPORT BEACH, Calif.--(BUSINESS WIRE)--April 7, 2005--PIVX Solutions, Inc. (OTCBB:PIVX), the leader in next generation Windows Host-Based Intrusion Prevention software, announces today that the private equity firm Lotus Fund has increased their holdings in PIVX to become the controlling shareholder of the company. "We are very excited about the IT security industry, and we view host intrusion prevention as the next significant area of growth within that industry," said Tydus Richards, director at Lotus Fund and the new Chairman of the Board at PIVX. "We evaluated many different companies in this space and are impressed with the technology, the team and the momentum at PIVX. Given the continually growing threats to PC users, PIVX's products provide the protection that Windows users must have to be truly protected against hackers and the malware they deploy. The co-founders of PIVX have a legacy to be proud of and now we are assembling the team to take the Company to the next level." The company's primary software product, Qwik-Fix Pro, is designed to proactively block known and unknown software threats in all versions of Microsoft Windows and Internet Explorer. Using Active System Hardening technology, Qwik-Fix Pro combines automatic remediation of critical software security flaws with targeted configuration management. This host-based technology is driven by world-class security research and mitigates critical software vulnerabilities well before Microsoft releases a patch or an anti-virus signature is written. "Defective software represents the greatest security risk facing organizations today. With tens of millions of lines of code in Microsoft Windows, the potential for abuse is extremely high and will continue to plague industries that rely upon this platform," said PIVX CTO, Alex Tosheff. "Windows users must take a different approach to mitigating this risk and by using a product like Qwik-Fix Pro as a key component in a layered-security approach, they can achieve the best possible protection against the greatest number of threats. In many cases, we are providing the 'patch before the patch.'" "We are very pleased that we are having success on multiple fronts," said Luis Curet, Interim CEO and senior vice president of sales and marketing at PIVX. "We are seeing increased traction within our OEM, International, Enterprise, Consumer and Forensic Services groups. It is clear that companies understand the unique value proposition that we provide. In addition, we're seeing a huge number of downloads of Pre>View, our recently launched security scorecard application for Windows computers." PIVX will hold an investor conference call at 4:15 p.m. Eastern Standard Time on Thursday, April 14, 2005. PIVX Solution's Chairman of the Board Tydus Richards and PIVX's Interim CEO Luis Curet will host the call. To hear the conference call as it takes place: -- Call 1-800-434-1335 in the United States or Canada or; -- Call 1-404-920-6620 in the Atlanta Area or Internationally -- Pin Code: 646636 -- Exclusive: For Expedited Entry into the Conference: Please register via this link for your Direct Access 800 number. www.AccuConference.com/PIVX To hear a recording of the call (available immediately following the call by telephone for 30 days after the call takes place): -- Call 1-800-977-8002 in the United States or Canada or; -- Call 1-404-920-6650 in the Atlanta Area or Internationally -- Pin Code: Press * then 646636 About PIVX PIVX Solutions, Inc. (OTCBB:PIVX) is a security research product and services company that leverages its domain knowledge to increase the security of corporate PCs and servers and the Internet infrastructure. PIVX also conducts highly confidential security-related work on behalf of some of the world's largest corporations. PIVX research has identified multiple vulnerabilities and ways to exploit many of the worlds widely used Operating Systems and software including Microsoft Windows, Microsoft IIS, Unreal Engine, Microsoft Internet Explorer, Cisco IOS and Turbo Tax. For more information, please visit www.pivx.com or call 949-999-1600. Forward-Looking Statements The statements contained in this press release that are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements, without limitation, regarding our expectations, beliefs, intentions or strategies regarding the future. PIVX intends that such forward-looking statements be subject to the safe-harbor provided by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, among other things: (1) PIVX's successful integration of Threat Focus; (2) PIVX's expected revenue and earnings growth; and (3) estimates regarding the size of target markets. These statements are qualified by important factors that could cause PIVX actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) PIVX's ability to obtain development financing as and when needed, (2) PIVX's ability to generate and sustain profitable operations; (3) the market's acceptance of PIVX's products and services; (4) significant competition from other network security companies and operating system providers with significantly greater technological, marketing and financial resources, and (5) PIVX's ability to protect its intellectual property. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties as more fully described in the Company's periodic filings with the Securities and Exchange Commission. CONTACT: Redwood Consultants, LLC Jens Dalsgaard, 415-884-0348 JNSD () aol com SOURCE: PIVX Solutions, Inc. _______________________________________________ Full-Disclosure - We believe in it. Charter: http://lists.grok.org.uk/full-disclosure-charter.html Hosted and sponsored by Secunia - http://secunia.com/
Current thread:
- Lotus Fund Acquires Controlling Interest in PIVX Solutions Jason Coombs (Apr 08)