Cloud Security Corporation and App Ventures Limited Agree to Complete Asset Purchase
Grazed from PRNewsWire. Author: PR Announcement.
Cloud Security Corporation, an emerging technology company focused on the next generation of Internet and mobile security, today announced that the Company is pursuing the purchase option of the assets of Hong Kong-based, App Ventures Ltd. as part of its previously announced joint venture agreement. The acquisition of App Ventures’ assets will allow Cloud Security the opportunity to expand its App and website security development and marketing in North America, as well as give it access to critical Asian markets.
The two companies formed a joint venture agreement to pursue technology and intellectual property that was equally owned. Cloud Security Corporation and the joint venture filed a patent (US Serial Number 61/832,534) for a process and methods for one-time password generation on mobile computing devices. This patent-pending process reduces several risk factors related to current one-time password technology. Cloud Security Corporation will own 100% of this patent following completion of the asset purchase agreement…


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