Vuzix Expands Reach in Northern Europe by Signing Distribution Agreement with Westbase.io and Receives Initial Volume Smart Glasses Order
ROCHESTER, N.Y., July 26, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that it has entered into a distribution agreement with Westbase.io, a leading distributor of Extended Reality (XR) technologies, 4G/5G and IoT for industry. Vuzix has received and shipped against a significant first volume purchase order from Westbase.io, who will distribute across Europe from their UK and EU-based warehouses.
Westbase.io has over 30 years of experience working with enterprise customers that have distributed assets and workforces, providing technologies that connect workers and enable better ways of communicating, educating and operating. They are a channel-only business committed to offering best-in-class XR technologies for use in industry and enterprise, so bringing the right products and services to their partners is key to addressing and winning new XR business. The addition of Vuzix to the company's portfolio will provide their partners with greater choice, allowing them to address an even wider range of use cases. Key market verticals served by Westbase.io include utilities, automotive, healthcare and manufacturing.
"Westbase.io is pleased to be adding the Vuzix product range to our portfolio as a distributor in the Nordics, Benelux, UK and Ireland," said Sacha Kakad, Managing Director of Westbase.io. "We're increasing our investment in, and focus on, Extended Reality (XR) as part of our connected technology strategy; Vuzix' industry experience and innovative product line provide a further platform for growth in this fast-moving market sector. By combining Vuzix' augmented reality smart glasses with Westbase.io's operational technology experience, and our value-added approach, the XR ecosystem we will offer to our partners is class-leading."
"We are thrilled to be partnering with Westbase.io, a leading distributor who is well positioned to provide us with new and diverse distribution opportunities in a high demand region," said Paul Travers, President and CEO of Vuzix. "We look forward to supporting their efforts to help their customers gain competitive advantages within their respective industry verticals."
About Vuzix Corporation
Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 275 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2022 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit the Vuzix website, Twitter and Facebook pages.
Westbase.io is the leading distributor of 4G/5G, IoT and Extended Reality (XR) technologies. Whether it's increasing profitability, productivity or safety, Westbase.io can help to deliver better ways of working for everyone. We take today's business challenges and turn them into future opportunities which make a real difference. Our partner support and services are at the heart of our business. We take the time to understand the context as well as the complex, both in your business and your objectives, so that we can provide support which realizes your ambitions.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship and future opportunities with Westbase.io and its customers, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Vuzix Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations,
Tel: (585) 359-5985
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SOURCE Vuzix Corporation
Released July 26, 2022