LONDON (ShareCast) - (Sharecast News) - Technology investment company Pires Investments updated the market on its investment in artificial intelligence data management and security company Getvisibility on Tuesday.
The AIM-traded firm said it is interested in Getvisibility both directly, and through its 13% investment in Sure Valley Ventures.

On 7 August, Getvisibility signed a public sector distribution agreement with US public sector enterprise IT distributor immixGroup, which would allow Getvisibility to grow its public sector business, accelerate sales cycles, and operate more efficiently in the government market.

Federal agencies would also be able to deploy Getvisibility products on-premises, and into their existing cloud infrastructure.

New regulations and legislation, such as Cybersecurity Maturity Model Certification (CMMC) and the US Federal Information Technology Acquisition Reform Act, were said by Pires to be "challenging" public entities to upgrade ageing IT systems with technologies that better protected data and saved billions in taxpayer dollars.

Getvisibility, via immixGroup's portfolio of contract vehicles, would be available to federal agencies to help them "transform and modernise" their data security.

"We are delighted with Getvisibility's agreement with immixGroup, which is expected to deliver a significant increase in business for Getvisibility," said chairman Peter Redmond.

"With the changing landscape of cybersecurity regulations in the U.S., we believe Getvisibility is well positioned to serve the increasing demand for comprehensive data security services.

"The agreement with immixGroup will certainly aid this progress."

Redmond said the company's strategy was still focussed on strategic investments in high-tech businesses, with "significant potential" for accelerated growth.

"We continue to seek similar opportunities to that of Getvisibility, and we look forward to updating the market with progress to this regard in due course."

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