SANTA MONICA, Calif., Oct. 22, 2019 (GLOBE NEWSWIRE) — GBT Technologies Inc. (OTC PINK: GTCH) (“GBT”, or “the Company”), a company specializing in the development of Internet of Things (IoT) and Artificial Intelligence (AI) enabled networking and tracking technologies, including its GopherInsight™ wireless mesh network technology platform for both mobile and fixed solutions, announced that it has entered into a Joint Venture (“JV”) Agreement with BitSpeed LLC (“BitSpeed”), a software development company located in the Los Angeles area. The new JV will be called GBT BitSpeed Corp.
BitSpeed (www.bitspeed.com) specializes in the development, sale and maintenance of software which allows the accelerated and secure transfer of large file data over existing private or public networks. BitSpeed is currently partnered with a major Cloud Platform (GCP) and has an agreement to supply its software through GCP’s Partner Advantage program, where their customers can buy certified solutions directly from GCP.
BitSpeed’s Concurrency application competes in the Extreme File Transfer market, which is a subset of the larger Managed File Transfer or MFT market. Per analyst Market Reports World (https://www.marketreportsworld.com/enquiry/request-sample/12905887):
“Managed file transfer is a type of software that allows the transfer of files inside an organization or between multiple organizations. This method is a fast, secure, reliable, and a transparent way of exchanging files, with additional features such as tracking and monitoring. As a result, one can discover the loss of data from a specific point, and also receive an acknowledgement after successful completion of a file transfer process. With the advent of digitalization, companies are becoming heavily dependent on the successful transmission of digital files bearing critical information. Hence, this transmission should be secure, reliable, and quick to run the business process smoothly in real time. The demand for efficient and effective file transfer has been increasing in the past few years.”
GBT BitSpeed Corp. is expected to assist with the integration and development of BitSpeed’s technology into GBT’s patented and patent-pending technology platform outlined in previous announcements, highlighted by its GopherInsight, gNET Wireless Mesh Network platform, and its Avant! AI management system. As GBT’s gNET network data transfer needs grow in the future, it is planned that a high-speed, secure layer of technology could be added to facilitate movement of large file data globally.
“Continuing with our strategic goal to launch world-class products and software, GBT feels that this is another great step in enhancing our offerings both through internal and partner resources,” said Doug Davis, GBT’s Chief Executive Officer. “We welcome our new partners from BitSpeed and look forward to our cooperative development and business efforts in the future.”
“We are excited to partner with GBT in this Joint Venture,” states Caron Caldwell, BitSpeed’s General Manager. “As wireless mesh networks deploy globally, it will be important to move large amounts of data quickly and safely, and we look forward to helping GBT’s InSight platform achieve this.”
About GBT Technologies Inc.
GBT Technologies Inc. (OTC PINK: GOPH) (“Gopher”) (http://gopherprotocol.com/) is a development-stage company which considers itself a native IoT creator, developing Internet of Things (IoT) and Artificial Intelligence (AI) enabled mobile technology platforms. Gopher has a portfolio of Intellectual Property that, when commercialized, will include smart microchips, mobile and security applications and protocols, and supporting cloud software. Gopher’s system envisions the creation of a global mesh network. The core of the system will be its advanced microchip technology that can be installed in any mobile or fixed device worldwide. Gopher envisions this system as a low-cost, secure, private mesh network between any enabled devices, providing shared processing, advanced mobile database management/sharing and enhanced mobile features as an alternative to traditional carrier services.
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.
Doug Davis, CEO
GBT Technologies Inc.
Media: [email protected]