[August 31, 2016] |
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5BARz Signs Landmark Deal with Top ISP to Deploy a Minimum of 5 Million Wi-Fi Routers
5BARz International (OTCQB:BARZ) (www.5BARz.com)
("5BARz" or "the Company"), a technology leader in the cellular network
extender industry and broadband networks, is pleased to announce that
our wholly owned subsidiary, 5BARz India Private Limited, today
announced the signing of a landmark strategic deal with a top Internet
Service Provider (ISP) to connect 5 million Indian homes to the
Internet. The Company also disclosed today that it has entered the
wireless router business through its advanced Fuji Wi-Fi broadband
router.
The agreement stipulates a commitment by the top ISP to deploy a minimum
of 5 million 5BARz Wi-Fi routers over a period of five years. 5BARz
India secured this order for its advanced Wi-Fi experience suite, which
is delivered through its next generation router, 5BARz
Fuji, as well as its 5BARz
Smart Experience connectivity software. The Company did not disclose
the specific terms of the agreement honoring confidentiality.
Daniel Bland, Founder and Global CEO of 5BARz International, Inc.,
commented on today's news, "The deployment agreement with this ISP marks
an exciting milestone for 5BARz as we have now entered the Wi-Fi router
space. Our best in class Fuji router serves the substantial need for
better broadband in India, a market with significant growth potential.
With the launch of our Wi-Fi router business, we now have a portfolio of
technology solutions consisting of our cellular network extender and the
broadband Fuji router, and now offer a diversified suite of best in
class products enhancing wireless connectivity throughout the home.
Through our Wi-Fi router business, we have created parallel sales
strategies and revenue generating opportunities, enhancing value for
both current and future investors."
Vasan Paulraj, Managing Director and Business Head - Financial
Sponsors Group at Axis (News - Alert) Capital, which serves as 5BARZ India's Investment
Banker, commented on today's news, "This is one of the most
significant deals in the Indian telecom industry in the last several
years and the way that 5BARz India's last mile connectivity is monetized
is extremely innovative. The creativity of 5BARz management in
structuring this deal exemplifies the qualities we look for in the
executive teams of those technology companies with which we partner, and
was the key to successfully closing this tranaction. We are in the
process of raising the capital required for this rollout and fully
support 5BARz India in this endeavor."
Samartha Nagabhushanam, CEO of 5BARz India Private Limited,
commented, "Our 5BARz Wi-Fi Smart Experience will be available for the
Indian market during this quarter, and we plan to launch the suite in
multiple cities within the country over the coming months. We strive to
take the connectivity experience to a new level, offering products and
services that behave like an in-home assistant."
Gil Amelio, Chairman of the Board of 5BARz International, Inc, commented,
"This took a tremendous amount of effort to get this deal done and I
would like to congratulate the entire team. This deal is a testament to
our flexibility in responding to and recognizing market trends and
market opportunities. Furthermore, we are extremely excited about the
potential of this model in other markets around the world and look
forward to continued growth in the future."
About Axis Capital
Axis Capital is amongst India's leading Investment Bank. Axis
Capital is 100% subsidiary of Axis Bank, India's 3rd
largest Private Bank. Axis Capital has a track record of bringing
companies in emerging sectors to the Indian capital market. Axis
Capital maintains dominance as the #1 ECM Banker in Indian Capital
Markets having successfully completed 41 ECM/Block, 23 M&A/Advisory, 5
Private Equity, 4 Structured Finance and 5 Public Debt transactions
worth ~INR 70,000 crore (15 billion USD) since January 2015.
About 5BARz India
5BARz India Private Limited is one of India's most
promising technology start-ups that is well equipped to provide seamless
connectivity solutions. 5BARz India is a part of 5BARz
International Inc., a start-up that is delivering solutions for
cellular and broadband network operators in providing clear, high
quality signal and superior connectivity for their subscribers. 5BARz™
with it's 2 state-of-the-art products, 5BARz™ Network
Extender for cellular connectivity and the 5BARz™ Fuji for
broadband connectivity is striving to solve the problem of last
mile connectivity. Due to the plug & play nature and zero installation
cost, the 5BARz™ suite of products is emerging as
the most attractive proposition in India.
The ultra-portable 5BARz™ Network Extender
incorporates a patented technology to create a high engineering based,
single-piece, plug and play device that strengthens weak cellular
signals by amplifying even the poorest cellular signals from 1 bar to 5
bars, ensuring uninterrupted connectivity at home and work.
The 5BARz™ Fuji through it's single-piece,
plug and play device introduces a break through approach in providing
uninterrupted and superior coverage and connectivity across home and
work with a smart approach to broadband.
For further information about 5BARz International, Inc.,
visit www.5BARz.com.
For further information on 5BARz India visit www.5BARzIndia.com.
About 5BARz International Inc.
The 5BARz International Inc. business is focused on the
global commercialization of patented product technologies branded under
the name 5BARz®. 5BARz® is a cellular and broadband
connectivity solutions company for application in the small office, home
or for when users are mobile. 5BARz® incorporates patented
technology to create highly engineered, single-piece, plug 'n play units
that strengthens weak cellular signals to deliver high quality signals
for voice, data and video reception on cell phones and other cellular
equipped devices cellular connectivity device and an uninterrupted and
smart solution for the broadband coverage solutions. 5BARz®
represents a key solution for network operators in providing clear, high
quality signal for their subscribers with a growing need for high
quality connectivity. 5BARz International Inc.'s shares
are publicly traded on the OTCBB under the ticker symbol BARZ.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of forward-looking
statements within the meaning of Section 27A of the Securities Act and
Section 21E of the Exchange Act. These statements may involve risks and
uncertainties that could cause actual results to differ materially from
those described in such statements. Such forward-looking statements
involve known and unknown risks and uncertainties, including all
business uncertainties relating to product development, marketing,
market acceptance, future capital requirements, and competition in
general that may cause actual results to be materially different from
those described herein as anticipated, believed, estimated or expected.
The Company is under no obligation to (and expressly disclaims any such
obligation to) update or alter its forward-looking statements whether as
a result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160831005667/en/
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