SAN GERONIMO, Calif., Jan. 9, 2012 (GLOBE NEWSWIRE) -- Virogen Inc. (OTC:VRNI), a holding company specializing in data security and encryption technology, today announced today that the Company's wholly-owned subsidiary, Tiger Team Techologies "T3," will expand into the smartphone security market with a primary product offering and additional applications for online transactions.
T3 intends to make available on smartphones its existing suite of proprietary tools offered to its enterprise level clients including Auditrac and Encryptrac. Along with this existing suite of products, Tiger is also introducing to the smartphone market personal transaction tracking involving credit cards and personal transactions executed with the smartphone. Both offerings will be on a subscription basis in the cloud and the company expects to introduce the new offering in the 2nd quarter of 2012.
Mobile security has become a major concern since smartphone transactions are now of much higher value, including corporate data access, managing personal finances and online purchases. Most consumers have not protected their smartphones as fewer than 5 percent of smartphones and tablets are installed with security software, according to Juniper Research. The research firm expects to see a surge in demand with the total annual market for mobile security software growing to $3.6 billion by 2016.
"T3 is very excited to announce that over the next quarter we will be developing tools to assist smartphone clients with their security and tracking requirements. The smartphone market continues to expand at a record pace worldwide. By introducing applications specifically designed for this market , T3 will instantly expand its growth opportunities by several fold. This development is in tandem with company's previously announced expansion into the personal computing market with a new consumer product that will serve as a data protection and tracking solution for personal credit card transactions online," commented Paul Hogan, CEO of Virogen, Inc.
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.