News
posted on
Jul 20, 2007 05:20AM
CARLSBAD, Calif., July 20, 2007 /PRNewswire-FirstCall via COMTEX/ -- Patriot
Scientific Corporation (OTC Bulletin Board: PTSC) announced today that Pilot
Power Group, Inc. and its affiliate EDM S, LLC have acquired a controlling
interest in DataSecurus, LLC (formerly Holocom Multi-Domain Computers, LLC).
DataSecurus develops secure data- and power-control technologies that enable
high-security PCs for government and military installations.
Users of DataSecurus PCs can access both secure classified networks and
unsecured unclassified networks (such as the Internet) from the same computer,
without the possibility of unauthorized access or loss of classified data.
Previously, such users required two or more physically separate PCs on the same
desk. The patented technology, known as the Sentinel(TM) System, has been
praised by the U.S. Department of Defense personnel, NATO officers, and other
federal agency employees.
Patriot Scientific CEO Jim Turley said, "We saw the potential of the technology
but also realized that it's not among our core competencies. DataSecurus needed
added capital and industry expertise, so Patriot felt that it was wise to
attract a partner willing to make that investment. Pilot Power Group will share
ownership in the enterprise while carrying the product through to
commercialization. This configuration made the most sense for our shareholders."
Patriot's subsidiary, Holocom Networks, will retain a 22% interest in
DataSecurus, as well as ongoing board-level positions. Holocom also has the
option to invest additional capital in DataSecurus to either maintain or
increase its ownership position. Holocom Networks is jointly owned by Patriot
and Scripps Ventures, Inc.
Thomas R. Darton, vice president of Pilot Power Group and CEO of DataSecurus
said, "We are very excited about this new investment and feel that the
technology has great promise. We have completed a supply contract for design
services, have signed consulting agreements with key stakeholders in the
technology, and have signed an exclusive manufacture, distribution and sales
agreement with the developers and owners of the technology. We will have a
number of announcements to make as this product comes to market later this year.
The company is accepting orders for shipment in the fourth quarter of 2007." He
added that "Patriot's history of involvement in high-technology products and
design will make their representatives valuable Board members for DataSecurus."