LOS ANGELES--(BUSINESS WIRE)--CloudSoda, one of the world's fastest-growing SaaS applications for accelerated data movement and storage cost analytics, announced today that it will become an independent company, separating from its parent, Integrated Media Technologies, Inc. (IMT).
CloudSoda has evolved rapidly since the product launch at the Sports Video Group's (SVG) annual technology conference in July 2020. As a result, the company's customer base includes some of the world's largest brands in Media and Entertainment, Professional Sports, and E-commerce Platforms—choosing CloudSoda for its secure, encrypted, fast, and efficient tools to move large media files from any source to any destination while reporting costs and statistics back to users.
CloudSoda's patented solution for predicting and reporting costs to move, store, and retrieve files from the cloud eliminates the guesswork in using cloud services for storage.
"We are pleased with the growth in the market for CloudSoda," said Bruce Lyon, IMT's Chief Executive Officer. "The validation we are getting from important new customers proves that it's time for CloudSoda to stand on its own and for the founding executive team to accelerate the growth path to building a world-class data mover and cost analytics application for digital media professionals."
"We are excited to take this next step in our evolution as a critical SaaS application provider to the digital media industry," commented Greg Holick, Chief Product Officer. "The spin-out from IMT allows us to meet the needs of our customers, further enabling us to provide industry-specific solutions to deliver unprecedented control of the entire media storage ecosystem. In addition, an independent CloudSoda will accelerate the development of accelerated data movement, insightful cost analysis, and advanced business intelligence for all storage types."
CloudSoda is exhibiting at the National Association of Broadcasters (NAB) Convention in Las Vegas. The company's software application will also be highlighted in several exhibits at NAB, including the AWS booth.
To learn more about Integrated Media Technologies Inc. (IMT), visit imtglobalinc.com. To learn more about CloudSoda's accelerated data movement and storage cost analytics application, visit cloudsoda.io.
Some of the statements in this press release may be forward-looking or statements of future expectations based on currently available information. Such views are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Hannover Re does not make any representation or warranty, express or implied, regarding such statements' accuracy, completeness, or updated status. Therefore, in no case will Hannover Re and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and statements in this press release or for any related damages.