RESTON, Va., May 3, 2017 /PRNewswire/ -- PrecyseTech Corporation ("PrecyseTech") and Agylytyx announced the execution of a Letter of Intent for PrecyseTech to acquire Agylytyx, a cloud-based enterprise business analytic software solutions firm and current PrecyseTech partner. PrecyseTech's proven Industrial IOT ('IIOT') asset tracking management and analytics, and cloud-based inPALMSM SaaS solutions will fully integrate Agylytyx's Generator, BI, analytics, and visualization cloud based software. Agylytyx is also an SAP Partner and is experienced with ERP data integration which will enhance PrecyseTech's asset management and analytics capabilities.
Terms of the transaction were not disclosed and the transaction is subject to the approval of the respective Boards of Directors.
"PrecyseTech's enterprise network, smart agents, and upcoming inPALMSM portfolio of secure SaaS asset management and analytics today track thousands of assets for blue-chip customers," said Paul B. Silverman, PrecyseTech President and CEO. "Expanded financial analytics, enhanced leading indicators, powerful user-friendly visualization options, improved cost performance, augmented productivity, increased worker safety, and seamless SAP linkage – these are some of the many benefits we will offer users with the new integrated IoT analytics solutions platform," said Silverman. He continued, "The unique Agylytyx 'building block' approach based on their Construct Library offers our users powerful new IOT management and analytics capabilities."
McKinsey studies estimate today's IoT revolution will generate $11 trillion in economic value by 2025, and notes interoperability will be critically important, accounting for 40 to 60 percent of this total opportunity. The Agylytyx platform and technology provides real time access and analytics to enterprise ERP systems, - significantly expanding the reach of Precystech's current asset management and analytics solutions, moving beyond traditional sensor data, and providing insights and analytics on the relationship between often isolated 'islands of information' within enterprises.
"We have a long history of working with Paul Silverman and the PrecyseTech team. We are already developing new business insights using PrecyseTech's proven asset tracking technology," said Madison Laird, Agylytyx President and CEO.
The initial inPALMSM v.1 SaaS offering is scheduled for beta release on June 1st. The inPALMSM v.2 offering, including the Predictive Analytics and Metrics Module ("PAMM"), will be released for user beta tests on August 1st.
PrecyseTech is a leading pioneer of Industrial IoT (IIoT) Systems providing end-to-end management of high-value physical assets and personnel. PrecyseTech's proprietary technology provides reliable performance in indoor and harsh outdoor environments, with affordable, 'micro-beacon' infrastructure and long battery life. PrecyseTech's upcoming cloud-based inPALMSM portfolio of SaaS IIOT applications linked to PrecyseTech remote 'Smart Agents" enable enterprises to track real time status of critical remote assets including people, vehicles, and equipment, and to provide users with a powerful suite of new SaaS tools to improve productivity, cost performance, and worker safety. Besides typical IIoT management functions, e.g., identification, location, telemetry, and M2M, PrecyseTech Smart Agents support additional features using proprietary patented technologies. PrecyseTech's solutions also employ proven proprietary bi-directional air protocol that incorporate the PrecyseTech proprietary Local Positioning System for indoor environment and Assisted GPS (A-GPS) for harsh outdoor into a single Smart Agent. PrecyseTech solutions address applications in airports, water facility contracting, logistics, energy, vehicle distribution, border patrol, industrial manufacturing and other hazardous and non-hazardous heavy industries. For more information, please visit our website at www.PrecyseTech.com.
Agylytyx provides cloud-based enterprise business analytic software solutions. The company's flagship product, the Agylytyx Generator, frees up analyst time and results in better enterprise decision making. The Agylytyx Autosense product monitors existing data streams to assist in developing proactive strategies for investment decisions. Agylytyx Autosense uses collective inferencing and artificial intelligence to assess alternative investments and empirically determine which are more likely to succeed. It can also detect and alert to different financial conditions before they emerge. The Agylytyx Optimizer helps companies choose the combinations of funding levels and projects which return the most benefit for their investment. The Agylytyx Optimizer functions in an atmosphere of uncertainty, project dependencies and strategy pre-requisites to identify the set of the investments which represents the highest possible "bang for the buck" within given parameters. Agylytyx is based in Sunnyvale, California, and has locations in Philadelphia and Chicago, IL. For more information about Agylytyx visit www.agylytyx.com or contact Scott Gripenstraw; firstname.lastname@example.org; Tel: (408) 498-5840.
Certain statements above, in press releases and PrecyseTech officials oral statements are "Forward-Looking Statements" (FLS) according to the Private Securities Litigation Reform Act of 1995 (the "Act"). FLS include statements predictive in nature, depending upon or referring to future events / conditions, including words like "believes," "anticipates," "intends," "plans," "expects," and similar expressions. Statements concerning future financial performance (revenues, earnings, and growth rates), ongoing business strategies / prospects, and future actions, which may be provided by management, are also FLS as defined by the Act. The actual and any future results, performance or achievements of the Company, expressed or implied, may be materially different and vary significantly for different reporting periods due to FLS that involve known and unknown risks and other factors. Management believes that the assumptions made and expectations reflected in the FLS are reasonable. There is no assurance that the underlying assumptions will prove to be correct and the actual future results may be different from expectations expressed above. These statements are not guarantees of future performance.
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SOURCE PrecyseTech Corporation