Moimstone and NEC Sign Distribution Agreement for New Enterprise Phone Product
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/24/14 -- Moimstone
Corporation ("Moimstone") (TSX VENTURE:MSE) today announced the
signing of a distribution agreement for a new Android(TM)-based
handset for the enterprise market with NEC Corporation of America
("NEC"), a leading provider and integrator of advanced IT,
communications, managed services and biometric solutions. Under the
agreement, Moimstone will develop a new Android handset platform for
NEC. The product is scheduled to release in the fall 2014.
"NEC is extremely pleased with our new relationship with Moimstone,
which is known for its best-in-class voice over IP ("VoIP")
technology," said Ram Menghani, vice president, Unified
Communications Products and Services, NEC Corporation of America. "We
share Moimstone's vision of transforming traditional enterprise VoIP
handsets into intelligent, interactive, interconnected and
multi-functional devices. This new product will enable NEC to offer
additional features and customizable options for our vertical
markets, extending both the product life and value to our customers.
We anticipate quite a bit of demand for this Android-based offering
once the product is fully developed and available."
Moimstone and NEC will work together to set up and operate an app
store to make it simple for end users to purchase and download
software updates, as well as access additional features and
Rob Bakshi, CEO of Moimstone, explained, "This is a historic moment
for Moimstone. This agreement helps the company expand its sales
beyond South Korea and Japan as well as enter new markets in addition
to telcos and broadband carriers. Most importantly, this new
direction changes the company from a hardware supplier to
software-focused with a potential for higher gross margins and
recurring revenue. I have complete confidence in our experienced and
best-in-class team to execute this path."
Moimstone Corporation is a Canadian technology company principally
engaged in the design, development, marketing, and sale of
communications equipment and software. It has a wholly-owned Korean
subsidiary with an eight year history of supplying VoIP telephone
equipment and other products to major Korean and international
About NEC Corporation of America
Headquartered in Irving, Texas, NEC Corporation of America is a
leading provider of innovative IT, network, communications and
biometric products and solutions for service carriers, Fortune 1000
and SMB businesses across multiple vertical industries, including
Healthcare, Government, Education and Hospitality. NEC Corporation of
America delivers one of the industry's broadest portfolios of
technology solutions and professional services, including unified
communications, wireless, voice and data, managed services, server
and storage infrastructure, optical network systems, microwave radio
communications and biometric security. NEC Corporation of America is
a wholly-owned subsidiary of NEC Corporation, a global technology
leader with a presence in 44 countries and more than $32 billion in
revenues. For more information, please visit www.necam.com.
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Moimstone Media Contact:
President and Chief Executive Officer
NEC Media Contact:
NEC Corporation of America
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