MPH Group Signs Distribution Agreement with Vuzix and Places Volume Purchase Order for Vuzix Smart Glasses
Vuzix Corporation (NASDAQ: VUZI) has entered a distribution agreement with MPH Group, a UK-based company focused on digital transformation. This deal enables MPH to distribute Vuzix Smart Glasses and includes a volume purchase order for immediate delivery. The partnership aims to enhance Vuzix's market presence in Europe and the UK, tapping into sectors like healthcare and automotive. Both companies express optimism, highlighting Vuzix's innovative products as crucial for future growth. Vuzix holds 210 patents and has won multiple innovation awards in the AR and display industry.
- Distribution agreement signed with MPH Group, enhancing market access.
- Volume purchase order received for immediate delivery of Smart Glasses.
- Strategic expansion into Europe and UK markets.
- None.
ROCHESTER, N.Y., July 26, 2021 /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 signed a distribution agreement with MPH Group ("MPH"), a UK-based distribution company enabling digital transformation through the channel and helping in the digitization of businesses, and has received a volume purchase order from MPH for Vuzix Smart Glasses for immediate delivery.
MPH distributes game-changing and highly immersive technologies that involve augmented reality, virtual reality and IoT (Internet of Things) solutions. From concept to reality, pre-sales through to support, training to automated tools, and from research to high ROI, MPH serves customers across numerous industry verticals that include healthcare, energy, automotive, telecommunications, defense, construction and manufacturing.
"MPH Group is delighted to sign a distribution agreement with Vuzix, giving us and our partners access to the excellent products designed and manufactured in the U.S. by one of the world's leading vendors of head mounted display technologies," stated Nick Amer, Commercial Director at MPH Group. "Because of their innovation, quality, and market strategy, Vuzix is the one company we have always wanted to work with and now we can finally offer our partners one of the very best solutions on the market."
"Our distribution agreement with MPH will help further strengthen our presence in Europe and the UK, geographies which represent important growth opportunities for us," said Paul Travers, President and CEO of Vuzix. "Vuzix looks forward to an expanding distribution relationship with MPH that will span all of our current smart glasses products, as well as future ones."
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 210 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 2021 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 Vuzix website, Twitter and Facebook pages.
About MPH Group
MPH Group Ltd is a unique trade-only global distribution company specializing in providing the Channel with tools and solutions to help Digitally Transform the way we live and work using new and immersive technology. For more information, visit MPH Group website.
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 with MPH Group and their 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,
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation
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