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Classified in: Science and technology, Business
Subjects: ECO, CPG

Quebec Ministry of Economy and Innovation Allocates $4 Million to Montreal-Based Edge Computing Firm, Ormuco

Investment in R&D will help Ormuco accelerate growth in Quebec's tech ecosystem

MONTREAL, Aug. 5, 2019 /CNW Telbec/ - Today, the Quebec Ministry of Economy and Innovation announced the allocation of $4 million to the Montreal-based leader in edge computing, Ormuco. This investment will support Ormuco's research and development and stimulate job creation in the software engineering sector. It will also contribute to establishing Quebec as a relevant and fertile ground for the future of innovative and real-time based technologies such as AI, 5G, Machine Learning and Edge Computing.

Despite the current talent shortage in technology, 85% of Ormuco's workforce is based in Quebec. "Thanks to our government's trust and generosity, Ormuco has the opportunity to create jobs in edge computing software development, and by the same token, play a pivotal role in the creation of new career paths in the province," says Orlando Bayter, CEO of Ormuco.

"We are honored to contribute to this fantastic ecosystem the government is building to address the fast-growing demand for platforms that enable and foster innovative technologies. As edge computing is crucial to the development and processing of AI solutions, Ormuco will contribute to reinforcing Quebec's reputation as an innovative AI hub."

In 2013, when most of Ormuco's competitors in software technology were focusing on centralizing data processing systems (known as cloud computing), the company embarked on a different path and developed a decentralized data processing system to provide innovative real-time solutions to local and global businesses.

Over the years, Ormuco has evolved into a leading global software company today with clients across several industries and markets worldwide. Working with established global technology such as Hewlett Packard Enterprise and ALSO Group, as well as with some of the world's largest telecommunication companies, Ormuco has more edge computing solutions use cases than any other player in the industry.

As cloud computing is at a significant distance from the user, it is not possible to make real-time decisions. This is because the transfer of data from the device to the cloud is not immediate. The technology that solves this problem is edge computing. Its wide array of solutions overcome the physical challenges that cloud computing brings about, by offering an experience with significantly less latency (the time it takes to send information from point A to point B) and an increased capacity for transferring data at a higher speed.

One of the greatest transformations of the present era comes with machine learning, augmented or virtual reality, video games and the Internet of Things. This transformation will only be possible with coupled use of 5G mobile networks and edge computing. Thanks to the solid expertise Ormuco has built, the company is poised to become a global leader in the deployment of edge computing as the preferred solution for data processing, as the platform that accelerates the growth of solutions that will dramatically change the way we live today.

For more information, please visit: ormuco.com.

About Ormuco
Founded in 2008, Ormuco's mission is to be a leader in the deployment of edge computing as the preferred solution for data processing. The company enables the delivery of real-time solutions based on innovative technologies such as AI and machine learning to businesses and users worldwide. With headquarters in Montreal, the company employs 50 employees and serves industries across diverse sectors such as media and entertainment, energy, mining, technology, retail, education, banking, construction, utilities and healthcare.



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