Mississauga, Ontario, Nov. 11, 2015 (GLOBE NEWSWIRE) -- Skkynet Cloud Systems, Inc. ("Skkynet" or "the Company") (OTCQB: SKKY), a global leader in real-time cloud information systems, has been selected by Nokia as a Top10 winner in the Nokia Open Innovation Challenge 2015 in Helsinki. Among the resulting opportunities to collaborate with Nokia, Skkynet's SkkyHub™ service and DataHub® software will be demonstrated at the Nokia pavilion at Slush, a gathering of 15,000 tech entrepreneurs, investors and journalists also held in Helsinki, on November 11-12.
Skkynet's solutions primarily serve the $145B global industrial automation market, which by some estimates is expected to reach $202B by the year 2020 at a CAGR of 6.73% from 2015 to 2020. Meeting the growing need for access to remote data across a range of industrial market verticals, Skkynet is uniquely positioned for the "Industrial Internet of Things" or "Internet 4.0" because unlike the traditional approach for industrial systems, network security is built-in--not just an add-on.
"Nokia's validation of Skkynet's innovative approach to the Industrial IoT is well timed," said Paul Thomas, President of Skkynet. "Leaders of industry are demanding high security solutions for the Industrial IoT that deliver real-time performance, and they need a solution that works seamlessly with existing equipment and data protocols. Skkynet is the only supplier that offers to smoothly integrate IoT and SCADA systems, while preserving the in-plant experience. Further, the SkkyHub service provides a unique opportunity for our partners by offering them a shared revenue model."
The Nokia Open Innovation Challenge is held annually to discover and develop new talent and ideas for the telecommunications industries. "Today, the pace of innovation matters more and more in our daily lives and, at Nokia, we are showing our openness to incorporating innovations from all around us," said Hossein Moiin, Executive Vice President, Chief Technology Officer for Nokia Networks. "Our objective is to reach out to the brightest innovators and experts in the IoT domain so that we, together, can help build a future that will benefit us all."
Skkynet takes an evolutionary approach to the Industrial IoT by combining its DataHub software, Embedded Toolkit (ETK), and SkkyHub service to provide complete in-plant data communication and integration that can easily add support for IoT applications like M2M, remote data access, field service management, real-time analytics, and predictive maintenance. The smooth transition from SCADA to IoT is facilitated by SkkyHub's secure-by-design system architecture that requires no open firewalls, no VPNs, and no programming or changes to the IT infrastructure. In practical terms, Skkynet offers a "drop-in" upgrade for remote connectivity that works very effectively with today's systems, preserving existing infrastructure investments.
About Skkynet Cloud Systems, Inc.
Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub®, WebView™, and embedded toolkit software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet's platform is uniquely positioned for the "Internet of Things" and "Industry 4.0" because unlike the traditional approach for networked systems, SkkyHub is secure-by-design. Customers include Microsoft, Siemens, Metso, ABB, Honeywell, IBM, GE, Statoil, Goodyear, BASF, Cadbury Chocolate, and the Bank of Canada. For more information, see http://skkynet.com.
Safe Harbor
This news release contains "forward-looking statements" as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. We assume no obligation to update the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Skkynet Cloud Systems, Inc. Paul E. Thomas, President Office: (888) 628-2028 Fax: (888) 705-5366 Web: http://skkynet.com Email:
