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RETRANSMISSION: Oculus Completes Acquisition of California-based Data Privacy Provider, OCL Technologies Corp.
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2020) - Oculus VisionTech Inc. (TS...
About this update from Oculus Inc.
[{"type":"text","content":"RETRANSMISSION: Oculus Completes Acquisition of California-based Data Privacy Provider, OCL Technologies Corp.Vancouver, British Columbia--(Newsfile Corp. - June 8, 2020) - Oculus VisionTech Inc. (TSXV: OVT) (OTCQB: OVTZ) (FSE: USF1) (the \"Company\" or \"Oculus\"), an emerging data security provider, is pleased to report, further to the Company's news release of April 20, 2020, that the Company has completed the acquisition of 100% of the shares of OCL Technologies Corp. www.ocltechnologies.com (hereafter \"OCL\"), a Delaware Corporation, with its head office located in the technology hub of San Diego, California. OCL is specifically focused on providing enterprise organizations and individuals with highly-secure data privacy tools that provide sustained and continuous global regulatory compliance of data subject rights, while independently protecting all parties. With the burgeoning growth of privacy regulation worldwide coupled with strict regulatory oversight, companies are dedicating significant resources to achieve and maintain compliance. In the past two years alone, initiatives such as the EU GDPR (General Data Protection Regulation effective May 25, 2018) as well as the CCPA (California Consumer Privacy Act passed June 28, 2018 and effective January 1, 2020) have mandated privacy rights and data protection for entities and individuals contemplated within their legislative frameworks. In addition to these, there are additional data privacy legislative initiatives on-going in Asia and both North and South America which will require data protection solutions. Oculus believes that the acquisition of OCL is a tremendous fit within its core objective of developing robust cutting edge technologies that address focused customer data protection requirements on a global scale.\"We are very pleased today to be able to report that we have closed the acquisition of OCL Technologies Inc., an emerging data security provider, based in the technology hub of San Diego, California . This acquisition will enable the Company to participate in what has been described by Industry followers as a large growing global marketplace requiring data security solutions. The acquisition supplements the Company's DPS document protection system which will allow the Company the opportunity to further develop leading edge cyber security and data ...