VANCOUVER, BC--(Marketwired - January 16, 2017) - Intrinsyc Technologies Corporation (TSX: ITC) (OTC: ISYRF) ("Intrinsyc" or the "Company"), a leading provider of solutions for the development and production of embedded and Internet of Things ("IoT") products, today announced the Company signed an agreement with a new client valued in excess of US$600,000.
The agreement is for the Company's product development services, including architectural consulting, mechanical design of the product enclosure, electrical design, and software development; including device drivers, remote device update, and power management. The client's platform will be derived from Intrinsyc's Open-Q™ 820 System on Module and is expected to launch in the fourth quarter of 2017.
"Intrinsyc's ability to provide comprehensive product development services, from product concept through production, was a key differentiator in winning this new project and client relationship," stated Mark Waldenberg, Vice President, Global Sales, Intrinsyc. "Another key factor was our ability to leverage our Open-Q™ 820 computing platform to provide the advanced technology needed to enable our client to build a compelling product. We are excited to begin development to speed our client's powerful and innovative product to market."
About Intrinsyc Technologies Corporation
Intrinsyc Technologies Corporation is a product development company that provides comprehensive and tailored solutions that enable the development and production of next-generation Internet of Things ("IoT") products. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX: ITC) (OTC: ISYRF) and is headquartered in Vancouver, BC, Canada; with additional engineering centers in Boulder, Colorado and Taipei, Taiwan.
This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information may include statements regarding the Company's future plans, objectives, delivery performance, revenues, or the company's underlying assumptions. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company's actual future results or performance may be materially different. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized.
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