Dubai, UAE, March 06, 2024 (GLOBE NEWSWIRE) -- Lytus Technologies Holdings PTV. Ltd. (the “Company”) (Nasdaq:LYT), a leading global technology-driven services company, today announced the launch of Lytus Cloud, a cutting-edge suite of cloud infrastructure services with robust management capabilities. Leveraging the Company’s in-house technological expertise and one of the most popular open-source cloud management platforms, Lytus Cloud is designed to meet the escalating demands of enterprise computing, tapping into the expansive US$325.9 billion global data center market (Statista).
Lytus Cloud is strategically positioned to exploit the burgeoning demand for high-performance computing (HPC) infrastructure, fueled by advancements in deep tech such as natural language processing, large language models, and machine learning. The launch of Lytus Cloud signifies a pivotal moment for the Company, promising to deliver unparalleled flexibility, functionality, and value to enterprise clients across a spectrum of cloud services, including public cloud, private deployments, managed private clouds, Build-Operate-Transfer (BOT) Data Centers (DC), co-location, cloud consulting, and VPS and hosting services.
By offering a diverse array of cloud solutions, Lytus Technologies is set to provide a compelling alternative to traditional hyperscale cloud providers. This strategic move not only enhances Lytus Technologies' portfolio, which includes Lytus Digital, Broadband, Studios, and Tele-health, but also strengthens its commitment to delivering cutting-edge technology, exceptional customer service, and significant value to its clientele.
The introduction of Lytus Cloud is expected to catalyze growth across all Lytus Technologies' offerings, reducing cloud-related expenses and powering the deployment of state-of-the-art products and services.
This initiative marks Lytus Technologies’ transition into a major player in the cloud computing sector, with plans to rapidly expand its capacity globally over the next two years. This expansion will focus on serving US clients while also establishing a presence in key international markets.
With the massive growth in demand for cloud services, spurred on by constant disruptions in technology and the race for innovation, it’s an exciting time for Cloud Computing as an industry. Lytus Technologies is well-positioned at the forefront of this evolution, offering a unique opportunity for us to become the next big player to revolutionize this space.
Dharmesh Pandya, CEO of Lytus Technologies, added, “Lytus Cloud will serve as the foundational backbone for all of our technology-driven ventures, presenting us with a remarkable opportunity to build a cutting-edge platform that drives growth and revenue on a global scale.”
About Lytus Technologies Holdings PTV. Ltd:
Lytus Technologies, a leading platform services entity with a significant footprint across India, serves over four million active users through its innovative distribution of linear content streaming/telecasting services and advanced technology products, including telemedicine. With a strong base of more than one million connections, the company is a key player in India's digital transformation, delivering superior streaming and internet services via its proprietary technology platform. Committed to global expansion and technological innovation in telemedicine and healthcare services, Lytus aims to elevate the service experience with cutting-edge solutions. The company's strategic ownership in Sri Sai's business, coupled with an extensive 5,000-kilometer fiber and broadband network, bolsters its operational capabilities and service offerings. Poised to leverage India's e-commerce boom and recent telemedicine regulatory changes, Lytus is expanding internationally, focusing on acquisitions and pioneering services in MedTech IoT and remote healthcare. The recent launch of Lytus Cloud further exemplifies the Company’s commitment to technological advancement, enhancing its digital and telehealth services, reducing operating costs, and tapping into the $325.9 billion global data center market.
Forward-Looking Statements
Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including but not limited to that the Company will be able to maintain its listing on The Nasdaq Stock Market, are not a guarantee of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions you that actual results may differ materially from the anticipated results expressed or implied by the forward-looking statements we make. You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. These forward-looking statements are made as of the date of this news release.
Contact:
Dave Gentry RedChip Companies, Inc. 1-407-491-4498 1-800-733-2447 LYT@redchip.com
