Getvisibility signs distribution agreement

RNS Number : 7105V

Pires Investments PLC

11 August 2020

 

11 August 2020

Pires Investments plc

("Pires" or the "Company")

Getvisibility signs public sector distribution agreement with immixGroup

Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in Getvisibility, an artificial intelligence data management and security company that Pires is invested in, both directly and through its 13% investment in Sure Valley Ventures ("SVV").

On 7 August 2020, Getvisibility announced that it had signed a public sector distribution agreement with immixGroup, the leading value-added distributor of enterprise IT for the U.S. public sector. The agreement will allow Getvisibility to grow its public sector business, accelerate sales cycles, and operate more efficiently in the government market. Federal agencies will also be able to deploy Getvisibility products on-premises and into their existing cloud infrastructure.

New regulations and legislation such as Cybersecurity Maturity Model Certification (CMMC) and the U.S. Federal Information Technology Acquisition Reform Act are challenging public entities to upgrade ageing IT systems with innovative technologies that better protect data and save billions in taxpayer dollars. Getvisibility, now available through immixGroup's portfolio of contract vehicles, can be used by federal agencies to help transform and modernise their data security.

As a comprehensive enterprise data security and classification solution, Getvisibility is designed to address demanding use cases and help ensure regulatory compliance.

Pires has a circa 13% interest in SVV which is a venture capital fund focused on investing in the software technology sector with a specific focus on artificial intelligence, the internet of things and augmented and virtual reality.

Peter Redmond, Chairman of Pires commented:

"We are delighted with Getvisibility's agreement with immixGroup, which is expected to deliver a significant increase in business for Getvisibility. With the changing landscape of cybersecurity regulations in the U.S., we believe Getvisibility is well positioned to serve the increasing demand for comprehensive data security services. The agreement with immixGroup will certainly aid this progress.

"Our strategy remains focused on strategic investments in high-tech businesses with significant potential for accelerated growth. We continue to seek similar opportunities to that of Getvisibility, and we look forward to updating the market with progress to this regard in due course."

- Ends -

Enquiries:

Pires Investments plc Peter Redmond, Chairman Nicholas Lee, Director	Tel: [phone]
Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams	Tel: [phone] Tel: [phone]
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabel Atkins	Tel: [phone]

Notes to Editors

About Pires Investments plc

Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.

The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence ("AI"), Internet of Things ("IoT"), Cyber Security, Machine Learning, Augmented Reality and Virtual Reality ("AR/VR") and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.

For further information, visit: https://piresinvestments.com/ . 

About Getvisibility

Getvisibility is an artificial intelligence security company addressing the substantial and increasing problem which corporations face in storing, sorting, accessing and protecting data. Getvisibility has developed and launched a software platform using artificial intelligence that delivers visibility over a wide range of data.

Getvisibility recently announced that it believes that it could be awarded up to €20 million in business following new Cybersecurity Maturity Model Certification (CMMC) requirements for suppliers to the US Department of Defence.

Further details about Getvisibility can be found at https://www.getvisibility.com/ .

 

END

 

 

NRAEANPEFAAEEFA