SAN GERONIMO, Calif., Jan. 3, 2012 (GLOBE NEWSWIRE) -- Virogen Inc. (OTC:VRNI), a holding company specializing in data security and encryption technology, today announced that the company's wholly-owned subsidiary Tiger Team Technologies "T3," is engaged in substantive discussions to acquire a company operating four data centers in the southeast region of the United States.
T3's acquisition target presently has a client base upwards of 10,000 to which the company would market its enterprise data tracking and protection solutions upon finalization of the acquisition. This represents a strategic move by the company, which is positioning itself logistically to accommodate anticipated growth and expansion in 2012.
The company's business model requires vast cloud computing capabilities as T3 recently announced plans to release a consumer product that will provide data tracking and protection for laptops and home PC's in addition to its enterprise-level solutions.
Paul Hogan, CEO of Virogen, Inc., commented, "We are very excited about the opportunity to acquire such a vibrant company that is a perfect strategic fit with the company's overall business plan. Additionally, upon closing of the acquisition, we would have the opportunity to penetrate the target company's client base with Tiger Team's very unique product offering. This is a wonderful opportunity for the company to develop an additional profit center that would be accretive to the top line and the bottom line revenues immediately."
About Virogen, Inc.
Virogen, Inc. is a technology holding company. The company's wholly owned subsidiary, Tiger Team Technologies "T3," has developed a very unique suite of copyrighted tools to address the network and database security needs of enterprise level companies and corporations. T3's risk management offering provides an unprecedented level of security and liability protection, positioning it as the only company with a comprehensive solution to data security breaches for its clients. T3's primary markets include medical service providers, financial services firms, brokerages and currency transaction platforms, consumer credit card companies, banking entities, retailers, defense and government related operations.
Forward-Looking Statements:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.