Vuzix Formalizes Reseller Agreement with VR Expert
Vuzix Corporation (NASDAQ: VUZI) has announced a formal reseller agreement with VR Expert, a prominent European provider of VR and AR hardware. The partnership has led to multiple follow-on orders for Vuzix smart glasses, totaling a six-figure amount. VR Expert operates in several European countries, providing services such as hardware advice and software installation. This collaboration is expected to enhance Vuzix's competitive position in key European markets, particularly in sectors like healthcare and manufacturing.
- Formal reseller agreement with VR Expert solidifying market presence in Europe.
- Follow-on orders for Vuzix smart glasses with a six-figure total dollar value.
- None.
VR Expert places multiple follow-on orders for Vuzix smart glasses
ROCHESTER, N.Y., April 7, 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 formalized a reseller agreement with VR Expert, one of Europe's leading providers of VR & AR hardware. VR Expert, which has been an active reseller of Vuzix products over the past year, has recently placed follow-on orders for various sets of Vuzix smart glasses that had a multiple six-figure total dollar value.
With offices in Utrecht and Cologne, VR Expert is a service-oriented supplier that is active in the Netherlands, Belgium, France and Germany. Providing VR/AR hardware advice, installation, support and distribution services, VR Expert can configure customer headsets, install software, and optionally can be the first line of support. Along with these services, VR Expert also provides its clients with a Knowledge Base, a central hub of information to get started with the hardware and software. If needed, the company can also provide guides and support in local languages.
"Vuzix smart glasses offer one of the market-leading solutions for augmented and mixed reality technology. By working with Vuzix, we are able to support clients in healthcare, manufacturing, warehousing and field services with appropriate smart glasses, software and service. We can now provide a comprehensive smart glass solution, making Vuzix the perfect partner," said Marco Janmaat, Chief Executive Officer at VR Expert.
"VR Expert is an industry leader that helps solidify Vuzix' presence and competitive position in several key European countries," said Paul Travers, President and Chief Executive Officer at Vuzix. "We look forward to working with and supporting them in these regions and others as they look to expand their global footprint."
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 246 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.
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 VR Expert, 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.
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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