LIMERICK, Ireland, Jan. 20, 2022 /CNW/ - kneat.com, inc.
(TSX: KSI) ("Kneat" or "the Company") a leader
in digitizing and automating validation and quality processes, is
pleased to announce it has signed a four-year Master Services
Agreement with the U.S. subsidiary of one of the world's top
fifteen Consumer-Packaged-Goods (CPG) companies.
The global CPG parent company employs over 50,000 people,
operates in over 150 countries and runs over 40 manufacturing
sites. This Master Services Agreement is effective immediately and
allows the company to scale Kneat to all its affiliate companies
and business divisions. This represents a considerable opportunity
for the expansion of SaaS licenses over the coming years. The
company's initial focus is the digitalization of computer systems
validation within the United
States. Implementation will commence in the coming weeks
with an expected go-live date in Q2 2022.
"Today's announcement further demonstrates that Kneat's
enterprise software has wide-ranging applications beyond life
sciences," said Eddie Ryan, Chief
Executive Officer of Kneat. "Kneat was designed to operate in
highly-regulated industries, and we are delighted to be trusted as
the solution of choice by the U.S. division of this top fifteen CPG
company. We look forward to working with the U.S. team to
build out a robust, digitized computer system validation
process."
This customer acquisition continues the trend of innovative,
global leaders selecting Kneat Gx as their enterprise validation
platform.
About Kneat
Kneat, a Canadian company with operational headquarters in
Limerick, Ireland, develops and
markets the next generation Kneat Gx software platform. Multiple
business work processes can be configured on the platform from
equipment to computer system validation, through to quality
document management. Kneat's software allows users to author,
review, approve, execute testing online, manage any exceptions and
post approve final deliverables in a controlled FDA 21 CFR Part 11/
Eudralex Annex 11 compliant platform. Macro and micro report
dashboards enable powerful oversight into all systems, projects and
processes globally. Customer case studies are reporting
productivity improvements in excess of 100% and a higher data
integrity and compliance standard. For more information visit
www.kneat.com.
Cautionary and Forward-Looking Statements
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
information" within the meaning of applicable Canadian securities
laws. Such forward-looking information includes, but is not limited
to, the relationship between Kneat and the customer, Kneat's
business development activities, the use and implementation
timelines of Kneat's software within the customer's validation
processes, the ability and intent of the customer to scale the use
of Kneat's software within the customer's organization and the
compliance of Kneat's platform under regulatory audit and
inspection. While such forward-looking statements are expressed by
Kneat, as stated in this release, in good faith and believed by
Kneat to have a reasonable basis, they are subject to important
risks and uncertainties. As a result of these risks and
uncertainties, the events predicted in these forward-looking
statements may differ materially from actual results or events.
These forward-looking statements are not guarantees of future
performance, given that they involve risks and uncertainties. The
forward-looking information in this press release does not include
a full assessment or reflection of the unprecedented impacts of the
COVID-19 pandemic occurring since the first quarter of 2020 and the
ongoing and developing resulting indirect global and regional
economic impacts. This has resulted in significant economic
uncertainty and even though the company has to date experienced no
significant impact to its operations, any potential impact on our
future is difficult to understand or measure at this time. Kneat
does not undertake any obligation to release publicly revisions to
any forward-looking statement, except as may be required under
applicable securities laws. Investors should not assume that any
lack of update to a previously issued forward-looking statement
constitutes a reaffirmation of that statement. Continued reliance
on forward-looking statements is at an investors' own risk.
SOURCE kneat.com, inc.