SOURCE: Apivio Systems Inc.

Apivio Systems Inc.

March 09, 2017 09:55 ET

Apivio Announces New Recurring Revenue Model Through CLive Contract with Sora Telecom

VANCOUVER, BC--(Marketwired - March 09, 2017) - Apivio Systems Inc. ("Apivio" or the "Company") (TSX VENTURE: APV), a leading provider of VoIP solutions, is pleased to announce Sora Telecom as its first customer to adopt the Company's cloud-based Internet protocol ("IP") device management service ("CLive"). Developed under the guidance of NEC Corporation of America ("NECAM"), Sora Telecom (www.SoraTelecom.com) will soft-launch its hosted VoIP phone service in the coming weeks with the NEC UT880S Android desk phone developed by Apivio, along with Apivio's Liberty L2 Wi-Fi phone, and Dexter D1 desk phone.

"This is an exciting milestone for Apivio," stated Rob Bakshi, President and CEO of Apivio Systems. "Three years ago, we formulated a three-prong strategy to disrupt the VoIP market: 1) develop enterprise desk phones to do more than voice calls (Monet Series); 2) deliver superior Wi-Fi mobility (Liberty Series); and 3) develop an intelligent software service to easily deploy and manage these devices (CLive). With Android and Wi-Fi platforms already in the market, the upcoming launch of CLive with Sora Telecom introduces the third prong of this strategy," continued Mr. Bakshi.

CLive is an industry leading cloud initiative by which Sora Telecom will provide its end-users advanced functionality such as automatic phone provisioning, firmware upgrades, status reporting and push messaging to Apivio's phones running on its network. CLive will also be used to manage, lock or unlock Apivio's phones that are sold with the service.

Expected to launch in the near future, Sora Telecom is developing calling packages to sell with Apivio's IP phones initially through online sales, and later expand its offerings and availability with NECAM. CLive will be bundled with each device and will generate revenue for Apivio through a recurring SaaS-based revenue model.

"We are continuing to build out CLive's features and functionality, and over time, we are hoping to expand CLive's capabilities beyond managing just Apivio's devices. We look forward to reporting on our launch with Sora Telecom in the very near future," said Mr. Bakshi.

About NEC Corporation of America

Established July 1, 2006, from the combined operations of NEC America, NEC Solutions America and NEC USA, NEC Corporation of America (NEC) is a leading technology integrator providing solutions that improve the way people work and communicate. NEC delivers integrated Solutions for Society that are aligned with customers' priorities to create new value for people, businesses and society, with a special focus on safety, security and efficiency. NEC delivers one of the industry's strongest and most innovative portfolios of communications, analytics, security, biometrics and technology solutions that unleash customers' productivity potential. Through these solutions, NEC combines its best-in-class solutions and technology, and leverages a robust partner ecosystem to solve today's most complex business problems. NEC Corporation of America is a wholly-owned subsidiary of NEC Corporation, a global technology leader with a presence in 160 countries and $25 billion in revenues.

About Apivio Systems

Apivio Systems Inc. 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 established track record of supplying VoIP telephone equipment and other products to major Korean and international telecommunications carriers. For more information regarding the Company, please visit www.apivio.com.

This press release has been prepared by Apivio Systems Inc. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact
    Rob Bakshi
    President and Chief Executive Officer
    Apivio Systems Inc.
    604-343-4200
    rbakshi@apivio.com

    Babak Pedram
    Investor Relations
    Virtus Advisory Group Inc.
    416-644-5081
    bpedram@virtusadvisory.com