Mississauga, Ontario, Nov. 11, 2015 (GLOBE NEWSWIRE) -- Skkynet Cloud Systems, Inc. ("Skkynet" or "the Company") (OTCQB: SKKY), a global leader in real-time cloud information systems, has been selected by Nokia as a Top10 winner in the Nokia Open Innovation Challenge 2015 in Helsinki. Among the resulting opportunities to collaborate with Nokia, Skkynet's SkkyHub™ service and DataHub® software will be demonstrated at the Nokia pavilion at Slush, a gathering of 15,000 tech entrepreneurs, investors and journalists also held in Helsinki, on November 11-12.
Skkynet's solutions primarily serve the $145B global industrial automation market, which by some estimates is expected to reach $202B by the year 2020 at a CAGR of 6.73% from 2015 to 2020. Meeting the growing need for access to remote data across a range of industrial market verticals, Skkynet is uniquely positioned for the "Industrial Internet of Things" or "Internet 4.0" because unlike the traditional approach for industrial systems, network security is built-in--not just an add-on.
"Nokia's validation of Skkynet's innovative approach to the Industrial IoT is well timed," said Paul Thomas, President of Skkynet. "Leaders of industry are demanding high security solutions for the Industrial IoT that deliver real-time performance, and they need a solution that works seamlessly with existing equipment and data protocols. Skkynet is the only supplier that offers to smoothly integrate IoT and SCADA systems, while preserving the in-plant experience. Further, the SkkyHub service provides a unique opportunity for our partners by offering them a shared revenue model."
The Nokia Open Innovation Challenge is held annually to discover and develop new talent and ideas for the telecommunications industries. "Today, the pace of innovation matters more and more in our daily lives and, at Nokia, we are showing our openness to incorporating innovations from all around us," said Hossein Moiin, Executive Vice President, Chief Technology Officer for Nokia Networks. "Our objective is to reach out to the brightest innovators and experts in the IoT domain so that we, together, can help build a future that will benefit us all."
Skkynet takes an evolutionary approach to the Industrial IoT by combining its DataHub software, Embedded Toolkit (ETK), and SkkyHub service to provide complete in-plant data communication and integration that can easily add support for IoT applications like M2M, remote data access, field service management, real-time analytics, and predictive maintenance. The smooth transition from SCADA to IoT is facilitated by SkkyHub's secure-by-design system architecture that requires no open firewalls, no VPNs, and no programming or changes to the IT infrastructure. In practical terms, Skkynet offers a "drop-in" upgrade for remote connectivity that works very effectively with today's systems, preserving existing infrastructure investments.
About Skkynet Cloud Systems, Inc.
Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. The Skkynet Connected Systems platform includes the award-winning SkkyHub™ service, DataHub®, WebView™, and embedded toolkit software. The platform enables real-time data connectivity for industrial, embedded, and financial systems, with no programming required. Skkynet's platform is uniquely positioned for the "Internet of Things" and "Industry 4.0" because unlike the traditional approach for networked systems, SkkyHub is secure-by-design. Customers include Microsoft, Siemens, Metso, ABB, Honeywell, IBM, GE, Statoil, Goodyear, BASF, Cadbury Chocolate, and the Bank of Canada. For more information, see http://skkynet.com.
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