EYEfi Reports Increased Forecast in Demand for Upcoming EYEfi Axis Cloud Product
EYEfi Group Technologies Inc. (CSE:EGTI, OTC PINK:EGTTF) has reported a substantial rise in demand forecasts for its upcoming EYEfi Axis Cloud product following a partnership with Axis Communications. This collaboration will integrate Axis' extensive network of over 1,200 partners in Australia and New Zealand, enhancing EYEfi's market reach significantly. The EYEfi Axis Cloud, scheduled for an August 2022 launch, aims to provide cloud-based video monitoring solutions and will capitalize on subscription-based revenue from Axis' distribution channels.
- Increased demand forecast for EYEfi Axis Cloud due to partnership with Axis Communications.
- Collaboration adds over 1,200 partner organizations for enhanced market reach.
- Product launch scheduled for August 2022, potentially driving subscription-based revenue.
- None.
TORONTO, ON / ACCESSWIRE / May 4, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI) (OTC PINK:EGTTF) ("EYEfi") is pleased to announce that following our recent Press Release regarding our partnership with Axis Communications, there has been an increased forecast in demand for the upcoming launch of the EYEfi Axis Cloud (EAC) product, as a result of Axis requesting EYEfi add their expansive network of partners and systems integrators across Australia and New Zealand, to the go-to-market plans for the product.
Axis Communications is one of the world's leading manufacturers of highly sophisticated IP-network cameras and integrated security solutions. Axis is a trusted name in surveillance manufacturing, and active throughout large enterprise, government, and consumer market segments globally and utilizes a large network of distributors, resellers, and system integrators to sell their camera hardware.
The addition of Axis' partners will add more than 1200 organizations who provide end-customers with a variety of installation and support services relating to Axis cameras, associated equipment, and software, so that customers don't have to be concerned with deploying and managing their camera networks.
EYEfi's CEO, Simon Langdon said, "We are delighted at the request from Axis to include their expansive partner network in our go-to-market plans, as this will significantly grow our market reach with the EYEfi Axis Cloud service and will add thousands of more customers to our addressable sales opportunity.
EYEfi Group Technologies Inc. management and in-house development team has been working closely with Axis Communications and some of their major distributors over the past 8 months to finalize the product and commercial offering of which we are in the closing stages of the go-to-market plans with the product due for launch in August 2022.
EYEfi Axis Cloud offers customers an easy way to connect, monitor and manage Axis cameras on the internet. EYEfi Axis Cloud is an entirely cloud-based video service platform and will enable the EYEfi and Axis sales channels with recurring subscription-based revenue, while providing end customers with a reliable and effective monitoring solution for Axis cameras.
The EYEfi Axis subscription-based offering will be available initially via Axis' vast distributor and partner network across Australia and New Zealand. Axis plans to expand this offering into other major regions around the world, once launched here in Oceania.
More information about Axis Communications can be found here
More information about EYEfi can be found here
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About EYEfi in detail:
EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.
EYEfi is a software and electronics engineering company that 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 (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.
EYEfi has also developed IIoT 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.
On behalf of the board of directors of
EYEFI GROUP TECHNOLOGIES INC.
"Simon Langdon"
Simon Langdon, CEO
For more information contact:
Simon Langdon | Mark van der Horst |
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
FORWARD LOOKING INFORMATION
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.
The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid 19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.
Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.
The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
SOURCE: EYEfi Group Technologies Inc.
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FAQ
What is the significance of the partnership between EYEfi and Axis Communications for EGTTF?
When is the EYEfi Axis Cloud product expected to launch?
How will EYEfi benefit from the Axis partner network?
