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TMCNet:  VersAi Inc. Acquires Intellectual Property from Espion International

[February 21, 2014]

VersAi Inc. Acquires Intellectual Property from Espion International

NEW WESTMINSTER, British Columbia --(Business Wire)--

VersAi, Inc. ("VersAi" or "the Company"), a Canadian Federal Corporation, headquartered in Irvine, California, an Intellectual Property Holdings company known for developing OEM Intelligent Middleware™ for next generation computing environments, is pleased to announce that it has acquired certain intellectual property assets including the worldwide distribution and licensing rights to the product lines and technology developed by Espion International, Inc., an 11 year old leading email and UTM ("Unified Threat Management") appliance manufacturer.

Espion, founded in 2003, developed and sold a line of AI-based email security appliances known as the "Interceptor." The Interceptor soon was recognized and featured in several Network World (News - Alert) Magazine articles in 2004 and 2005 as a strong contender in the email security space, alongside similar appliance products of competitors such as Proofpoint (News - Alert), Postini, Barracuda Networks, and Cisco/IronPort.

The IP itself is a self-signature-creating AI algorithm which now makes up the core of VersAi's product line, which is an extension of Espion's Interceptor line. VersAi's product offerings include hardware appliances which can be installed at the client's premises or which can be remotely accessed as a hosted solution. In addition, VersAi's product line ncludes the virtualized versions of the Interceptor. This AI technology is now known as VersAi Probabilistic Reasoning (VPR). It has been deployed on several million user mailboxes worldwide, including several Fortune 500 companies.

"We are very pleased with completing this IP transfer, as it marks the beginning of a new era for us which involves renewing our existing licensing agreements with our current partners and opening our doors to new partners in each of the markets we are seeking to reach," commented Dr. J. Scott Smith, President of VersAi.

About VersAi:

VersAi is a leading IT Security company utilizing artificial intelligence that has reached near autonomic operation, or operation without human intervention. We create self-learning, self-regulating, self-healing algorithms that have been commercially proven to be extremely effective at securing networks against email spam, viruses, intrusions via hacking attempts (IDS/IPS) and for providing outbound content security via content filtering and auto-encryption. Our inbound threat detection and prevention, as well as outbound policy and content security systems, are powered by VersAi's VPR AI intelligent security algorithm. Originally designed as a hybrid AI algorithm, borrowing from both symbolic (probabilistic reasoning, logic) and non-symbolic (machine learning, fuzzy logic, pattern detection) approaches, VPR has been commercially proven and tested over 11 years running as a self-signature-creating predictive and adaptive system, currently used as an email and content security gateway (DLP, HIPAA compliance via encryption) by over 250 enterprise customers including Fortune 500 companies, major Governmental divisions, various hospitals and many different businesses in virtually every vertical market. VersAi is fast becoming the leader in delivering a solid value proposition as a developer of OEM Intelligent Middleware to its customers and partners.

Disclaimer/Safe Harbor Statement:

This release may be deemed to contain forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, among other things, statements regarding the potential growth of the market in which VersAi Inc. operates. Readers are cautioned that these and similar forward-looking statements are only predictions and may differ materially from actual future events or results. VersAi Inc. does not undertake any duty to update the information provided in this release, except as otherwise required by law.


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