Global business leader Kenges Rakishev joins advisory board of Sprylogics
Rakishev Working to Export Technologies to Russia, Kazakhstan and other CIS
Countries to Capitalize on the Region's Explosion of Mobile Commerce and
Foreign Direct Investment
TORONTO, Oct. 23, 2012 /CNW/ - Sprylogics International (TSXV: SPY) today
announced the addition of noted global business leader and strategic
technology investor Kenges Rakishev to its advisory board. In this role,
Rakishev will work with other thought-leaders on the advisory board, including
Dennis Miller, Jeff Sagansky, Asim Abdullah, Tony Lacavera, and Jan Klein, to
provide strategic insights, solidify partnerships and help secure distribution
agreements worldwide for Sprylogics' mobile solutions.
In particular, Rakishev plans to leverage his extensive network and high-level
business dealings in Russia, Kazakhstan and other Commonwealth of Independent
States countries to help expand Syrologics' reach into those regions and other
emerging markets. Rakishev, who recently announced multi-million dollar
investments into TriPlay, Mobli and Net Element International (NASDAQ:NETE),
is actively working to source technologies abroad and export them to the
Sprylogics' unique technologies include a Facebook-integrated version of
Liquid Messaging, which enables users to chat, perform mobile searches and
share their search results (including movies, restaurants, and local
businesses) with their Facebook friends as well as other Liquid Messaging
users over Sprylogics, proprietary platform. The iPhone version of this
product is currently in Beta stage.
"Sprylogics' Liquid Messaging solution is very compelling for consumers,
operators and messaging providers," said Rakishev, who was designated by
Forbes as one of the 50 most influential people in Kazakhstan. "Sprylogics is
uniquely positioned to capitalize on the incredible growth of messaging and
search, both tremendous opportunities in the mobile space."
Added Rakishev: "I am excited by the incredible growth of technology and
mobile commerce in Russia, Kazakhstan and other CIS countries. Russia's mobile
commerce market alone reached $475 million in 2011 and its IT market is
expected to reach $32 billion in 2013. I look forward to working with
Sprylogics and other technology companies to source technological innovations
abroad, export them to the CIS region, and then modify these technologies to
the fit the unique cultural nuances and needs of the CIS market in order to
cultivate a spirit of technological innovation in the region."
Marvin Igelman, CEO of Sprylogics, echoed his sentiments about the
opportunities in the region: "Without doubt, Kenges' experience, knowledge and
global network will be invaluable in pursuing partnerships, distribution
agreements, and consumer adoption in the important Commonwealth of Independent
States (CIS) and Russian markets and other key markets. The addition of Kenges
to our advisory board is part of our commitment to align Sprylogics with the
best and brightest minds and continue to expand our reach and presence
Rakishev replaces William Kirsh. "We appreciate William's contribution to our
Advisory Board and look forward to moving ahead with Kenges as part our
strategic plans," said Igelman.
About Kenges Rakishev
Kenges Rakishev, a noted global business leader designated by Forbes as one of
the 50 most influential people in Kazakhstan, is an accomplished investor with
multiple business interests worldwide. He serves as chairman of the board of
directors for several companies including SAT & Company (KASE: SATC), a
diversified industrial holding. Benefitting from Kenges' leadership, SAT &
Co., which has interests in mechanical engineering, infrastructure projects
and petrochemical operations as well as plants and projects in Turkey and
China, has grown from its initial investment of $10K in 2000 to more than
$500M today. Kenges also is chairman of the board for Kazakhstan Petrochemical
Industries, the lead operator constructing the first integrated gas chemical
complex in Kazakhstan, as well as Vyborg Shipyard, one of the largest
shipbuilding companies in the northwestern region of Russia. He also serves as
chairman of the board of directors of Net Element International (NASDAQ:NETE),
a technology driven group in mobile commerce and payment processing, as well
as in entertainment and culture Internet destinations in Russia and other
Sprylogics International develops advanced search and analysis technology.
The patent pending technology platform uses Semantic and Machine Learning
techniques to process, analyze and interpret unstructured data including real
time conversation, in order to extract key sentiments, facts, user interests
and intent. The technology platform is currently being used to develop
innovative solutions related to search and discovery of products and places on
mobile devices. More information is available atwww.sprylogics.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Cautionary and Forward-looking Statements - Statements contained in this news
release which are not historical facts are forward-looking statements that
involve risk, uncertainties and other factors that could cause actual results
to differ materially from those expressed or implied by such forward-looking
statements. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from
those anticipated in such statements. All forward-looking statements
included in this news release are based on information available to the
Company on the date hereof. The Company assumes no obligation to update any
forward-looking statements, except as required by applicable securities laws.
Media Contacts FOR KENGES RAKISHEV Tyler Sminkey (305) 403-2080, Ext. 114
tyler@RoarMedia.com www.RoarMedia.com FOR SPRYLOGICS David Berman, CFO (905)
761-9200, Ext. 21 firstname.lastname@example.org www.Sprylogics.com
SOURCE: Sprylogics International Corp.
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