EYEfi Group Technologies, a software and electronics engineering company, receives additional order from Telstra, Australia’s largest wireless carrier – Video on InvestmentPitch Media

Rhea-AI Summary

EYEfi Group Technologies (CSE:EGTI) (OTCPink:EGTTF) announced a significant order exceeding $100,000 from Telstra Corporation for its EYEfi Cloud Automated Incident Management system, utilized by the Victorian Government’s Department of Transport. The system processes over 3,000 road incidents monthly, with VicRoads reporting a 28% increase in incident management vehicles. EYEfi is exploring partnerships for global expansion, alongside its ongoing collaborations with distributors such as Anixter and Fujitsu. Currently, shares are trading at $0.34.

Positive

• Received an order over $100,000 from Telstra, enhancing revenue.
• EYEfi Cloud processes over 3,000 road incidents monthly, indicating high demand.
• VicRoads reported a 28% increase in incident management vehicles, leading to repeat orders.
• Exploring partnerships for global expansion.

Negative

• None.

VANCOUVER, British Columbia, Dec. 09, 2022 (GLOBE NEWSWIRE) -- EYEfi Group Technologies (CSE:EGTI) (OTCPink:EGTTF), a software and electronics engineering company, has received an additional, greater than $100,000, order from Telstra Corporation. This new order is for the EYEfi Cloud Automated Incident Management product used by the Victorian Government’s Department of Transport.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “EYEfi” in the search box.

Telstra Corporation, Australia’s largest wireless carrier, is an EYEfi channel partner or reseller, primarily relating to its end customers, the Victorian Government Department of Transport and VicRoads. VicRoads, part of the Department of Transport, is the road and traffic authority in the State of Victoria, Australia’s fastest growing state.

VicRoads utilizes EYEfi Cloud’s Automated Incident Management technology, which is installed across the entire fleet of Incident Management Vehicles at VicRoads, which grew by 28% in the last quarter, providing additional repeat orders for EYEfi. EYEfi is processing more than 3000 road incidents per month for DoT, where it provides real-time incident visibility, GPS tracking of vehicles, automation of incident workflow processes, and a system of record for all incidents being attended to by incident management vehicles and personnel.

The company is currently in discussions with prospective partners to expand this offering into other major regions around the world and will provide further updates regarding several contracts nearing finalization.

EYEfi has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones, whether fixed, mobile, airborne, portable or handheld, into geo-target co-ordinate acquisition devices. EYEfi has also developed Industrial Internet of Things sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.

In addition to Telstra, EYEfi as a Software as a Service (SaaS) provider, sells it products and services through other large distributors and resellers, such as Anixter, Dicker Data, Fijitsu and VSP.

The shares are trading at $0.34. For more information about EYEfi’s products, please visit the company’s website www.EYEfiGroup.com, contact Simon Langdon, CEO, by email at info@EYEfigroup.com.
Investor relations is handled by Anoosh Manzoori, CEO, Shape Capital Pty Ltd., who can be reached at +61.409 252 088 or by email anoosh@shape.capital.

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The information in this InvestmentPitch Media Ltd video is for the viewers information only. EYEfi Group has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What recent contract did EYEfi Group Technologies secure?

EYEfi Group Technologies secured a contract worth over $100,000 from Telstra Corporation for their Automated Incident Management system.

How many road incidents does EYEfi's system manage monthly?

EYEfi's system manages over 3,000 road incidents monthly for the Victorian Government's Department of Transport.

What percentage increase did VicRoads report in incident management vehicles?

VicRoads reported a 28% increase in incident management vehicles in the last quarter.

Which other distributors is EYEfi working with?

EYEfi is collaborating with distributors like Anixter, Dicker Data, Fujitsu, and VSP to sell their products and services.

What is the current trading price of EYEfi Group Technologies shares?

Shares of EYEfi Group Technologies are currently trading at $0.34.