CENTRI Technology and Atonomi Complete Leadership Transition as Companies Move to Preliminary Launch Stage for IoT Security Products

SEATTLE, Oct. 24, 2018 /PRNewswire/ -- CENTRI Technology Inc. and Atonomi, the blockchain-based product business unit of CENTRI, today announced the completion of the previously announced leadership transition. In line with Robert Strickland's appointment as CEO in August and the advancement of the companies to the preliminary launch phase for their suite of Internet of Things (IoT) security products, founder Vaughan Emery has left to pursue other business interests.

"We are focused on the initiation of several pilot product runs with our first customers," said Strickland. "Our plan calls for beta testing and then product roll-out later this quarter with a major emphasis on sales in the first half of 2019. At this point, we have completed the initiatives that were spearheaded by Vaughan and appreciate his efforts to get us here. This is a transformational time for our company with significant product sales opportunities there for the taking, as we complete the initial tests and design modifications."

Gartner has projected that spending on IoT security will reach $2.5 billion by 2020, with over 40 billion devices projected to be connect to the internet. With the healthcare IoT and industrial IoT sectors forecast to grow at rate of 30% and 25% per year respectively, and no de facto security standards, Gartner expects that IoT device security will begin to be included in the design phase of IoT products.

Emery added: "My work is complete, but the mission will continue to help businesses address IoT trust and security. The company is in the best hands for driving the product development, testing and launch phase with Rob, our engineers and highly experienced technology sales and marketing professionals. CENTRI/Atonomi can build a dominant market position with the innovations that we developed."

About CENTRI Technology and Atonomi

CENTRI provides advanced data security for the Internet of Things. Our flexible, software-only product provides IoT professionals, developers and device makers with the means to quickly get to market with purpose-built IoT security, protecting data from creation to consumption. CENTRI enables you to mitigate today's data communication risks in a standards-based network infrastructure with heavyweight industry-standard encryption and compression, packed into a lightweight small footprint ideal for low-power IoT endpoint devices.

Atonomi, the blockchain-based product business unit of CENTRI, is the creator of the universal trust environment for IoT. Atonomi security software validates immutable device identity as well as enables device interoperability and reputation for a connected world. Through the application of blockchain technology, Atonomi aims to empower developers to build IoT solutions on its platform which will enable secure IoT transactions.

For more information, visit centritechnology.com and atonomi.io.

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SOURCE CENTRI Technology Inc.

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