MIAMI, Jan. 8, 2014 /PRNewswire/ -- Intelligent Living Inc. (OTCQB: ILIV) has signed a Letter of Intent (LOI) to acquire the assets of Venturian Group, Inc., an enterprise Cloud and IT Solutions Architecture Company. This strategic acquisition enables ILIV to continue its transformation into a 21st Century Health and Wellness Company.
"The future of Intelligent Living is being built on a connected platform that we call our Core Operating Areas or COA for short," explained Intelligent Living's Chief Executive Officer Victoria Rudman. "Venturian is the first of a few opportunities in the cloud and IT space that we have and will pursue. We have a broader plan to become an independent global technology company that can integrate our various offerings for our clients through our portfolio of services and technologies. We are all very excited about the synergies this deal brings to Intelligent Living and its immediate accretive earnings effect."
Miami-based Venturian Group, Inc. provides enterprise-class Private and Hybrid Cloud environments for mid-sized and large companies, managed IT services, and IT Consulting. The mainstay of the Venturian product line is a single, secure, highly available, policy-driven and managed integrated control point for governance, compliance and operations across Cloud systems and applications, empowering companies to focus on their business instead of their IT needs. Venturian counts among its customers some of the world's most prestigious enterprises in financial services, healthcare and other highly regulated industries.
Cloud computing offers significant benefits to the healthcare sector; Doctor's clinics, hospitals, and health clinics require quick access to computing and large storage facilities which are not provided in the traditional settings, moreover healthcare data needs to be shared across various settings and geographies which further burdens the healthcare provider and the patient causing significant delay in treatment and loss of time. Cloud caters to all these requirements thus providing the healthcare organizations an incredible opportunity to improve services to their customers, the patients, to share information more easily than ever before, and improve operational efficiency at the same time. The flip side of this advantage is that healthcare data has specific requirements such as security, confidentiality, availability to authorized users, traceability of access, reversibility of data, and long-term preservation. ILIV and Venturian are taking the steps needed to account for all these while conforming to regulations such as HIPAA and Meaningful use.
According to a new market report published by Transparency Market Research "Cloud Computing Market In Healthcare Industry (IaaS, SaaS, PaaS, CIS, NCIS, PACS, EMR, RIS) – Global Industry Analysis, Size, Share, Trends and Forecast, 2012 – 2018" the global cloud computing market in the healthcare industry was valued at USD 1.82 billion in 2011 and is expected to reach USD 6.79 billion by 2018, growing at a CAGR of 21.3% from 2012 to 2018.
"As an agent for Cloud management, Venturian is right at the point of consumerization for next-generation enterprise applications," noted ILIV Chief Strategy Officer Josh Eikov. "The combination of Intelligent Living and Venturian will empower an ecosystem of enterprise-level capabilities with a full set of tools to empower healthcare practices by lowering their friction points and to execute a single Cloud strategy while maintaining central governance, policy and administration in a single contact point and also providing ILIV a way to internally scale its operations and become technology independent."
In the past few months under new leadership, Intelligent Living has undertaken a significant strategic transformation to position itself for the high-growth segments of the technology solutions and services marketplace, including mobile and gaming, wellness and health based ecommerce, and now Cloud Computing, Big Data, cybersecurity and next-generation applications. This transformation has been enabled by several acquisitions of next-generation technologies, including brain games platform MIND360 and nutrafoods platform Health and Beyond, and by building partnerships with industry leaders that can deliver applications and games to ILIV customers, including an alliance agreement signed in October with Monster Arts Inc. (APPZ).
"Enterprise consumption habits, especially within the healthcare arena, have changed. Customers today want to move to a new IT model in which they can operate at a lower cost structure, eliminate CapEx, improve service and gain more ROI out of their work environments." said Venturian's Chief Executive Officer Allen Firouz. "Bringing Intelligent Living and Venturian together makes logical sense and positions the new organization for a true leadership role in transformation of IT."
The assets of Venturian Group, Inc. will be absorbed into a newly established subsidiary of Intelligent Living called Venturian Technologies Inc. with the current management of Venturian taking on the same roles within the new company. Venturian Technologies will continue its mission of providing Private Cloud and Solutions Architecture services to its current and new customers, while playing a critical role in the technology endeavors of ILIV. Allen Firouz and Lauren Fox will also be named as VP's of Intelligent Living Inc., becoming a critical part of the executive team.
The companies expect to close the transaction on March 31, 2014, subject to customary closing conditions. The exact terms were not disclosed at this time.
About Intelligent Living Inc.
Intelligent Living Inc. operates as a development stage company focused on the ever-expanding eHealth and eCommerce markets. Its segments include exercise, nutrition, supplements, mental acuity testing and training, through our newly acquired subsidiaries MIND360 Studios, and Health and Beyond. The Company, based in Florida, is a health and wellness company engaged in the development of software and technology to aid in age management and cognitive health. The mission of Intelligent Living is to improve a person's quality and function of daily living over a span of many years.
More information about Intelligent Living can be found on the Company's website located at http://www.intelligentlivinginc.com
Forward Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act") and as such, may involve risks and uncertainties. Intelligent Living Inc. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms "may," "believes," "projects," "expects," or "anticipates," and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to: our successful integration of diversified growth companies, impact of the company's expansion plan, and new business development success, future financial results, development and acquisition of new product lines and services, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
E Relations Group
SOURCE Intelligent Living Inc.