Byte Power and Wimobilize Extend Exclusive Partnership into Singapore and Malaysia
This agreement acts as supplementary to the agreement signed and announced on 26 August 2016, which was for an Exclusive Partnership with Wimobilize through a BPG fully owned subsidiary, Byte Power Pte Ltd ("Byte Power Singapore") enabling Byte Power Singapore to sell and implement Wimobilize Big Data solutions exclusively in Singapore and Malaysia.
Big Data is a term for data sets that are so large or complex that traditional data processing applications are inadequate. Big Data can be defined as high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation.
Wimobilize's Big Data solution provides companies with the capability to identify correlation and valid models to facilitate more accurate decisions from multi-structured data, such as marketing and transactional data, and unstructured data such as social conversations and news.
Australian organisations expect to leverage on Big Data and Advanced Analytics projects to deliver outcomes that will improve competitive advantage, enhance customer service and support, and aid with customer acquisition and retention. According to the International Data Corporation (IDC), the Australian IT services market is projected to grow to reach $19.7 billion at the end of 2019, and the New Zealand IT Services market projected to reach NZ$3,574.3 million in 2019.
This opportunity has provided Byte Power Australia to partner with a truly innovative company, Wimobilize, allowing the group to be part of a rapidly growing industry.
Mr Alvin Phua, Chairman and CEO of Byte Power Group commented: "The partnership between Byte Power Australia and Wimobilize gives us the opportunity to tap into the IT services market both in Australia and New Zealand with strong projected growth over the next few years."
Mr Stephen Lee, Executive Chairman of Wimobilize commented: "We are excited to launch the Wimobilize Hybrid Advance Big Data Technology Platform through our new partnership with Byte Power Australia. We are pleased to offer our Augmented Cyber Intelligence & Security, Predictive Analytics as well as other Big Data solutions through the extensive, established network of Byte Power Australia within Australia and New Zealand. Together, we can accelerate and leverage on these new exciting, available markets in these regions."
About Byte Power Group Limited
Through Wimobilize, the Group has a new cutting edge technology solution, a proprietary Advance Hybrid Artificial Intelligence Big Data Technology Platform consisting of 31 Advance Analysis Engines, 4 levels of Hybrid Correlation and Al Profiling Algorithms customised for governmental, healthcare, banking, telco and tourism industries. This proprietary Big Data technology platform elevated the AI Predictive Analysis and deep insight intelligence to a new paradigm, applicable to any market segment.
This Wimobilize Big Data technology powered e-commerce ecosystem will provide the next generation innovative trading platform for distributing the Company's Australian wine, organic honey and honeycomb.
Byte Power Group Limited