Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Cybersecurity company, Oculus VisionTech (TSXV:OVT) has expanded into the data privacy compliance market, through a recent acquisition
  • The company has acquired California-based start-up, OCL Technologies, which provides highly secure data privacy tools
  • Through OCL, Oculus will help organisations to meet its data privacy compliance obligations, privacy rights initiatives, and legislation
  • Data privacy is quickly emerging as an industry with great potential for growth in both personal and organisational applications
  • Oculus VisionTech (OVT) is up 15.69 per cent and is currently trading at C$0.59 per share

Cybersecurity company, Oculus VisionTech (TSXV:OVT) has expanded into the data privacy compliance market, through a recent acquisition.

The company recently acquired OCL Technologies, a data privacy start-up based in San Diego, California. OCL provides individuals and organisations with tools for high-security data privacy, in compliance with global data subject regulations.

Through OCL, Oculus will help organisations to meet their compliance obligations to global privacy rights initiatives and legislation. These include the European Union General Data Protection Regulation, the California Consumer Privacy Act, and Nevada’s Senate Bill 220.

OCL has a cloud-native, zero-trust data privacy API tool, which will be of particular use in this endeavour. The tool has a systematic consent, collect, store, and verification process, which protects its data subject and data controller.

Oculus’ CEO, Rowland Perkins, said the company is excited to be part of the building momentum at OCL.

“We will be reporting on more development with respect to both the details of the product offering, and imminent future opportunities,” he said.

Data privacy is quickly emerging as an industry with great potential for growth in both personal and organisational applications.

Matt Leib, an analyst for GigaOm, commented on the increasing potential of the market which Oculus has entered.

“As regulatory oversight grows in stature, with a strong foothold in the global markets, and with obvious growth in the US, data privacy requires significant resources to achieve and maintain.

“The value of an automated toolset to manage these datasets makes for a timely market opportunity for OCL,” he said.

Oculus VisionTech (OVT) is up 15.69 per cent and trading at C$0.59 per share at 12:47pm EDT.

More From The Market Herald

@ the Bell: Markets wrap a November to remember

Canada’s main stock index saw upward movement Thursday as crude oil prices fell, and the TSX tried to snap a four-month losing streak.
Ucore Rare Metals - Ucore's RapidSX rare earth element separation technology.

A leading-edge rare earth elements stock with no market recognition

Rising demand for rare earth elements offers a multi-billion-dollar opportunity, and Ucore Rare Metals is positioned to profit from it.