Visium Announces Launch of Technology Consulting Services Division to Meet Growing Demand
FAIRFAX, VA / ACCESSWIRE / September 26, 2023 / Visium Technologies, Inc., ('Visium' or the 'Company') (OTC PINK:VISM), a global cybersecurity and analytics company, released a letter to shareholders today from its Chief Executive Officer, Mark Lucky.
To our Valued Shareholders:
We are grateful for the patience and support of our shareholders as we look towards a very promising future. Our leadership team is committed to fostering transparency and open communication with our valued stakeholders. We welcome this opportunity to share our insights into our recent developments and our strategic vision moving forward. Our primary objective is to establish Visium as a company known for innovation in professional services, cybersecurity, and data analytics visualization.
Technology Consulting Services Launch
As we became more engaged in upcoming contracts, it became evident that Visium had the expertise to seize on the lucrative business opportunity to expand our professional services to include network engineering, system engineering, converged infrastructure deployment, software development, and cybersecurity services. These professional services offerings will fall in under our newly created Technology Consulting Services division. This strategic initiative represents a significant expansion of our service portfolio (in addition to licensing revenue), allowing us to meet the expanding demand for an array of critical services, which complements our proprietary TruContextTM data analytics technology. With a dedicated focus on bringing digital solutions to market, we have made the pivotal decision to transform our company into a major provider of these services, leading to rapid corporate growth.
Africa and Cybastion
Now, more than ever, Africa is seeking digital solutions to boost productivity and spur development. The continent lags behind much of the world in terms of fiber network and broadband connectivity, spectrum allocation, and data center capabilities.
According to the World Bank, achieving universal, high-quality internet access across Africa necessitates a staggering $100 billion investment. Eighty percent (80%) of this investment is earmarked for essential infrastructure to establish and maintain broadband networks. Africa currently accounts for just one percent (1%) of global data center capacity, with approximately two-thirds of this capacity concentrated in the country of South Africa. To bring the rest of the continent up to a comparable density to South Africa, approximately seven hundred (700) new data centers with 1,000 Megawatts (MW) capacity would be required.
Related to this digital transformation initiative, our partner, Cybastion Institute of Technology ('Cybastion'), has been awarded projects valued in excess of $1 Billion in more than ten countries in Africa. Cybastion has entrusted Visium to deliver project management, engineering and cybersecurity services. The projects in Cote D'Ivoire will be the first to begin, with the contract value of the services to be delivered by Visium is expected to be over $50 million. The contract value from work to be performed in these follow-on countries is estimated to be in excess of an additional $50 million. It is important to note that the financing has already been secured for these Cybastion-related projects and is derived from multiple governmental institutions devoted to funding the digital transformation of the African continent.
These major projects and the launch of the Technology Consulting Services division serve as the catalyst to transform Visium into a world-class technology company with global reach.
In conclusion, on behalf of the Visium team we appreciate your patience and continued support as we look forward to a Company engaged in multiple contracts across the African continent.
About Visium Technologies, Inc.
Visium Technologies (OTC PINK:VISM) is a cyber security solutions provider that uses graph database technology to deliver an analytics-driven, risk-based approach to cybersecurity that provides context to data so that users can make intelligent decisions in real time. Built for the US Army Cyber Command by MITRE Corporation (CyGraph), and then further developed by Visium, our world class TruContextTM technology provides visualization, advanced cyber monitoring intelligence, data modeling, analytics, and automation to help reduce risk, simplify cyber security, and deliver better security outcomes. TruContextTM plugs the gaps left by other security tools.
Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements that reflect management's current views with respect to future events and performance. These forward-looking statements are based on management's beliefs and assumptions and information currently available. The words 'believe,' 'expect,' 'anticipate,' 'intend,' 'estimate,' 'project' and similar expressions that do not relate solely to historical matters identify forward-looking statements. Investors should be cautious in relying on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed in any such forward-looking statements. These factors include, but are not limited to, whether the reverse stock split will be beneficial to the Company and its shareholders, any inability to meet the NYSE American continued listing standards in the future for any reason, and those other factors described in our filings with the U.S. Securities and Exchange Commission. Any responsibility to update forward-looking statements is expressly disclaimed.
Visium Technologies, Inc.
Corporate: Mark Lucky, Chief Executive Officer
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SOURCE: Visium Technologies, Inc.
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