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Searchlight to Ramp Up Operations Plans as Growth of Cloud Computing Accelerates; Cloud Market Estimated to Grow to $241 Billion by 2020(October 26, 2011)
ATLANTA, GA -- (Marketwire) -- 10/26/11 -- Searchlight Solutions Ltd. (PINKSHEETS: SLLN) today announces it is planning to ramp up its operational deployment to ensure it is well positioned to take advantage of the forecasted increase in demand for cloud based services.
An article from the Wall Street Journal cited a report by Forrester Research that "The global market for "cloud computing" is going to increase from about $41 billion in 2011 to $241 billion in 2020."
The article further went on to state the following:
- It's clear that cloud computing is one of the "next big things" in tech.
- It's going to be a "significant contributor to the size and growth of the tech industry overall," wrote Forrester researchers Stefan Ried and Holger Kisker.
- The big growth will happen when businesses, rather than regular people, move things like email and other tech services to the "cloud."
Additionally a 2011 Cloud Research report by Morgan Stanley stated the following:
- Cloud Computing Takes Off.
- Market Set to Boom as Migration Accelerates.
- Cloud Impacts: Stronger than Investors Anticipate.
The Company believes its High Performance Cloud Computing (HPC2) services under development and in beta programs will provide a great competitive advantage to pursue the cloud computing market growth opportunity.
Searchlight Solutions Ltd. (PINKSHEETS: SLLN) is a technology venture holding company that provides business development and high level management services for early stage technology companies who are pursuing the benefits of the public marketplace.
Searchlight Scientific Inc. is a next generation data services company focusing on developing and growing cloud based solutions to solve tomorrow's computing challenges. www.searchlightscientific.com
Linux Labs International Inc. is a hybrid engineering firm specializing in technologies that expand the field of high performance supercomputing. Linux Labs designs and builds high-performance supercomputers utilizing their proprietary NimbusOS. www.linuxlabs.com
FORWARD-LOOKING STATEMENT DISCLAIMER
Forward-Looking Statements: The statements in this press release or on the Company's website and any other statements relative to the Company, which are not historical facts, are forward-looking statements -- that is, statements related to future, not past, events. These statements may be identified by words such as "expects," "looks forward to," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "project" or words of similar meaning. Such statements are based on the current expectations and certain assumptions of the Company's management, and are, therefore, subject to certain risks and uncertainties, including but not limited to, costs and difficulties related to the state of the Company's current operations, applicability of the Company's technology, costs, delays, and any other difficulties related to the Company's business plan, the company's sources of liquidity, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, marketability of the Company's products and services, and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. A variety of factors, many of which are beyond the Company's control, affect the Company's operations, performance, business strategy and results and could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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