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Regulatory News:

Verimatrix , (Paris:VMX) (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced that Hong Kong-based OliveX Holdings Limited (NSX: OLX), a global digital health and fitness company, selected two Verimatrix cybersecurity solutions for its KARA Smart Fitness system.

According to a report earlier this month, the global online fitness market is estimated to grow from $6.04 billion in 2019 to $59.23 billion by 2027. Delivering live-streamed and recorded celebrity fitness coaches into users’ homes, the KARA Smart Fitness system uses mobile apps as well as an interactive full-length mirror powered by camera-based artificial intelligence. A regular mirror while turned off, the system offers a host of classes ranging from boxing to meditation. The camera detects movements, can count calories, can provide form correction recommendations, and even allow live competitions with others.

Through gamification, the company also encourages users to harness their passion for gaming and combine it with lengthier, fun workouts. And with gaming already positioned as the largest type of media consumed worldwide, the company sees gamification as a notable opportunity for their sector.

OliveX chose Verimatrix’s easily-deployed, cloud-based App Shield and Code Protection solutions, citing the many benefits of Verimatrix’s automated approach to applying foundational security as well as the company’s flexible customer support options for their specific needs.

“We like to describe today’s fitness-minded users as omnivores, consuming a wide variety activities and changing it up every so often – which is actually great for your body – and that’s why we’re committed to delivering premium, continually-updated KARA Smart Fitness content that needs to be powerfully protected against cybercriminals,” said Keith Rumjahn , Chief Executive Officer at OliveX. “Verimatrix code protection solutions ensure that our intellectual property, apps and users’ personal information remains safe. Its cloud-based automated technology was the answer for KARA Smart Fitness. We can focus on our core business and rely on Verimatrix as the proven security innovator.”

“Bringing group fitness to users’ homes in a pioneering way, especially during a pandemic, OliveX is a driving force in the global fitness sector that clearly prioritizes premium content that needs to be protected – not to mention its online community where customers want to know their information stays safe,” said Asaf Ashkenazi , Chief Operating Officer at Verimatrix. “Just as any other app-based business, the fitness world faces the same security and intellectual property challenges – and we’re pleased to work with OliveX to maintain peace of mind for their company as well as their users around the world.”

About OliveX Holdings Limited
OliveX is a digital health and fitness company selling innovative products and applications to deliver a unique user experience using artificial intelligence, gamification and premium content. With its flagship product the KARA Smart Fitness Mirror and associated subscription-based applications, OliveX provides a platform that links and engages consumers with brands, influencers and fitness coaches and that enables any space to become a personal fitness studio. OliveX has a market reach that spans over 170 countries. For more information, visit www.olivex.ai .

About KARA Smart Fitness
KARA Smart Fitness is OliveX’s digital application that delivers premium, on demand and live health and fitness-related content and classes from celebrity trainers and wellness influencers across the globe. KARA Smart Fitness complements the KARA Smart Fitness Mirror and together the products provide a complete hardware and software solution that harness artificial intelligence and technology for at-home fitness. For more information, visit www.karasmartfitness.com .

About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business. To learn more, visit www.verimatrix.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005066/en/

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