Protexis Opens Head Office
August 1, 2000, Vancouver, BC – Protexis Inc. announced today that it has opened its new head offices in Vancouver, BC. The new Protexis offices are located at Suite 670, 220 Cambie Street, Vancouver, BC. Protexis offers a complete internet-based software and digital content security, registration and on-line payment system.
The company was created on March 30, 2000 as 1395079 Ontario Inc. and acquired the software anti-piracy and content security business assets from Paradata Systems Inc. These assets include patents granted and pending on encryption technology and a System for Distributing Digital Information. The new company name reflects the three core elements of its anti-piracy and digital content security business: Protection, Transactions and Information Systems. Protexis is now open for business.
Glen Smeltzer, Managing Director of TIMCO stated, "As managers of the Canadian Science and Technology Growth Fund, we manage investments in over 20 high tech companies. As early backers of Paradata, and now Protexis, we believe that security related internet companies have a high growth potential in the coming years. Robust and full-featured software anti-piracy and content security systems are fundamental requirements for the ongoing evolution of internet commerce. We believe Protexis has a sound formula for success, combining its own anti-piracy technology with the transaction processing capability of its sister company Paradata. The strategic relationship between Protexis and Paradata along with our participation as shareholders, positions Protexis well for success."
"We are very excited about this new venture," added John Kelly, Protexis Director, Principal of Reid Eddison Inc. and Chairman of the Canadian Advanced Technology Alliance. "Software piracy alone accounts for over $11 Billion annually in lost software revenue and digital content security is an increasingly important eBusiness consideration. Protexis has a unique and appealing solution that incorporates licensing, registration and on-line transaction services. The Protexis services provide value for all participants in the distribution channel as well as for the end-user. We believe that these services will be very well received in the market."
The Canadian Science and Technology Growth Fund Inc. (CSTGF) is a Labour Sponsored Venture Capital Corporation based in London, Ontario. CSTGF invests in advanced technology with a focus and on early-stage technology companies. CSTGF has over 6,500 shareholders and investments of over $22 million in more than 20 companies.
Paradata Systems Inc. is based in Whistler, BC and delivers fast, secure and reliable on-line credit card processing services to businesses of all sizes through a number of financial institutions, including the Royal Bank of Canada.
Protexis provides a complete system for software anti-piracy and digital content security. For additional information on Protexis and its anti-piracy products call 604.915.5200.
Contact:
David Dunnison
Protexis Inc.
604.915.5200, Ext. 103
dunnison@axionet.com
Glen Smeltzer
TIMCO
519.858.1488, Ext. 231
gsmeltzer@cstgf.com
Note: Protexis Inc. relies on litigation protection for "forward-looking" statements.
