Accretive Acquisition of Market Leading Secure Digital Content Distribution and Communication Platform Expected to Close Before End of Q3 2018.
Provides Meaningful Revenue, EBIT Contributions, Monthly Recurring Revenue
RALEIGH, N.C., August 1, 2018 (Globe Newswire) — LandStar, Inc. (OTCPK: LDSR) (“LandStar” or the “Company”), the parent company of Data443™ Risk Mitigation, Inc. (“Data443”), a leading data security company, announced today that the Company has signed a letter of intent to acquire all technology, sales assets, and customers of Modevity’s enterprise cloud-based data storage, protection, and workflow automation platform, ARALOC™.
ARALOC is an industry-leading secure digital content distribution and communications platform that protects an organization’s confidential content and intellectual property assets from leakage – malicious or accidental – without impacting communications and collaboration between all stakeholders.
Developed in 2004, ARALOC is one of the industry’s first products to deliver on a SaaS-based approach with full encryption and digital rights management for all kinds of content – fully controlled and maintained by the customer directly – with a high level of content security, audit trails, and analytics to support today’s ever-increasing information security regulations such as HIPAA, GDPR, Sarbanes-Oxley, ITAR, Gramm-Leach-Bliley Act, and others. The ARALOC platform includes the SPARK Employee Communications Platform, Board Management Software, Sales Content Management, and publishing/distribution of content for K-12 educational clients.
The platform is natively oriented on the Microsoft Azure cloud infrastructure and integrates with Microsoft Active Directory (Azure and on premises) for a seamless sign-on experience. The ARALOC platform maintains a full set of APIs for easy integration to any upstream or downstream application.
“We are thrilled to announce such a game-changing transaction for Data443, one that is immediately accretive for us, and makes meaningful revenue and EBIT contributions,” said Jason Remillard, CEO of LandStar and founder of Data443. “The acquisition of ARALOC represents a significant strategic investment that crystalizes our ongoing commitment and previous investments in cloud security. In addition, the high quality and caliber of ARALOC’s technology and customer roster, which includes several global, multi-billion-dollar companies that have regularly depended on ARALOC for over a decade, provides us the opportunity to service these accounts, while building-upon and strengthening existing product functionality and offerings. We simply couldn’t pass up this opportunity.”
“I’ve known Jason and his team for quite a while, and I’m thrilled to be a part of Data443’s mission of developing a focused technology stack that’s dedicated towards addressing the current and future challenges of information security,” said Modevity, LLC President and Co-founder Jim Coyne. “Together, ARALOC’s platform with additional functions such as ClassiDocs and other planned enhancements will address the rapidly changing and growing demands of customers for integrated information security solutions that can be deeply integrated to the rest of the enterprise – for both cloud and hybrid-cloud applications.”
“Because of our familiarity with ARALOC, we have been working closely with their team to complete the transition as efficiently as possible, while continuing to grow the customer base and product set. We anticipate minimal service disruption, as the transaction includes full and completely supported transition of customers, code, sales, marketing, and other operational facets of the business,” concluded Mr. Remillard.
About LandStar, Inc.
LandStar, Inc. (OTCPK: LDSR), through its wholly owned subsidiary Data443™ Risk Mitigation, Inc., enables secure data – across local devices, network, cloud, and databases – at rest and in flight. ClassiDocs™, the company’s award-winning data classification and governance technology, provides GDPR compliance and DSAR management coupled with DLP, CASB, SIEM, and cloud solutions to provide user-enabled, governance-enabled, up-to-date security for every data point, every time. The WordPress-based GDPR Framework enables organizations of all sizes to comply with the GDPR and other privacy frameworks. ClassiDocs™ for Blockchain provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks. For more information, please visit www.data443.com.
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding LandStar’s plans, objectives, future opportunities for LandStar’s services, future financial performance and operating results and any other statements regarding LandStar’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond LandStar’s control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to the operations of LandStar; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and in integrating acquisitions; product liability; cybersecurity risk; and, anti-takeover measures in our charter documents.
Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained, from time-to-time, in LandStar’s filings with the Securities and Exchange Commission and postings on the OTC Markets news and information website. LandStar undertakes no obligation to publicly update or revise any forward-looking statement.