Alternet Systems OTCBB:ALYI): Mobile Platforms Continue Traction

Alternet Systems (OTCBB:ALYI ), an enabler of secure mobile commerce and payment transactions, announced that it has concluded a first acquisition of intellectual property for its mobile security subsidiary International Mobile Solutions (IMS). IMS was created in late 2009 with the intent of addressing security concerns often present when deploying mobile commerce and transaction services, which Alternet offers through its other operating subsidiary, Utiba Americas. Since its launch, IMS has expanded its product portfolio to include products for the corporate and consumer market.

Demand in these markets is driven by the ubiquity of cellphones worldwide, the growth of mobile commerce applications, and the explosive growth of smart phones and tablet computing devises, which like computers store and transmit sensitive user data but without the levels of protection that have evolved for computers. In order to fulfill the requirements of these market segments and to offer a comprehensive product portfolio, the company began targeting potential acquisitions in 2009. With this purchase, IMS obtains the exclusive rights to a core technology that is currently marketed to global law enforcement agencies, and that will continue to generate revenues in this market segment. This proven and robust core technology will form the basis of applications and services for the corporate and consumer markets. The company has effectively acquired more than 20 commercially viable products; the consumer products will be launched in the 3rd Quarter of 2011, and corporate products soon thereafter.

The global mobile security software market which IMS targets is growing at explosive rates. ABI Research published a study in January 2010 projecting that the market will surpass $4 billion in 2014; however, IMS expects the market to be much larger. Company CEO Juan Cubides points to mergers and acquisitions in the space that occurred in the summer of 2010 as an indication of the market's potential. "We see the acquisition of mobile security technologies by telecommunications and IT leaders like Juniper Networks and Intel as a ratification of our strategy. Truly, the mobile platform appears poised to eclipse desktop and laptop computing, and these industry leaders have seen the same future as we do," Mr. Cubides remarked.

The importance of digital security has drawn US government attention as well. In 2010 President Obama declared that, "America's economic prosperity in the 21st century will depend on cybersecurity," and with that launched the Cyber Security Initiative and its multi-billion dollar budget for the next five to ten years. Alternet hopes to take part in the Initiative and looks forward to providing security tools to safeguard US interests.

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