RiT Announces Formation of its New RiT Wireless Division
New Division to Focus Exclusively on RiT's Disruptive Beamcaster™ Indoor
Wireless Optical Network Solution
TEL AVIV, Israel, April 25, 2013
TEL AVIV, Israel, April 25, 2013 /PRNewswire/ --
RiT Technologies (NASDAQ: RITT) today announced that it has formed the RiT
Wireless Division to focus on the marketing, sales and further development of
its Beamcaster products. The new division will operate in both the United
States and Israel and will be led by Motti Hania, Deputy CEO of RiT
"We are extremely excited about the potential of our game-changing new
Beamcaster product family and its potential to become the future standard for
indoor wireless networking," said Dr. Vadim Leiderman, RiT's President and
CEO. "By separating out the Beamcaster products, we will be able to focus
management attention on their launch, ongoing rollout and the continued
development of the technology."
RiT Wireless's Beamcaster eliminates the trade-off between Wi-Fi's
ease-of-installation and flexibility with the high-security needed in today's
office environments. It brings a unique approach to open-space networking that
delivers the ultra-high bandwidth of structured cabling without the related
infrastructure expenses while being 100% hackproof.
About RiT Technologies
RiT is a leading provider of intelligent infrastructure management (IIM)
solutions and a developer of a new revolutionary indoor optical wireless
technology solution. Our IIM products provide and enhance security and network
utilization for data centers, communication rooms and work space environments.
They help companies plan and provision, monitor and troubleshoot their
communications networks, maximizing utilization, reliability and physical
security while minimizing unplanned downtime. RiT's IIM solutions are deployed
around the world, in a broad range of organizations, including: data centers,
enterprises, corporations, government agencies, financial institutions,
airport authorities, healthcare institutions, and education institutions.
RiT's indoor optical wireless technology solution will help our clients
streamline deployment, reduce infrastructure design, installation and
maintenance complexity and enhance security in a cost effective way. RiT's
shares are traded on the Nasdaq exchange under the symbol RITT.
For more information, please visit our website:http://www.rittech.com
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In this press release, all statements that are not purely about historical
facts, including, but not limited to, those in which we use the words
"believe," "anticipate," "expect," "plan," "intend," "estimate", "forecast",
"target", "could" and similar expressions, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
For example, when we discuss a field trial which could lead to a
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While these forward-looking statements represent our current judgment of what
may happen in the future, actual results may differ materially from the
results expressed or implied by these statements due to numerous important
factors, including, but not limited to, those described under the heading
"Risk Factors" in our most recent Annual Report filed with the Securities and
Exchange Commission (SEC) on Form 20-F, which may be revised or supplemented
in subsequent reports filed with the SEC. These factors include, but are not
limited to, the following: our ability to raise additional financing, if
required; the continued development of market trends in directions that
benefit our sales; our ability to maintain and grow our revenues; our
dependence upon independent distributors, representatives and strategic
partners; our ability to develop new products and enhance our existing
products; the availability of third-party components used in our products; the
economic condition of our customers; the impact of government regulation; and
the economic and political situation in Israel. We are under no obligation,
and expressly disclaim any obligation, to update the forward-looking
statements in this press release, whether as a result of new information,
future events or otherwise.
Julia Geva, AVP Marketing
SOURCE RiT Technologies Ltd
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