VANCOUVER, BC--(Marketwired - February 07, 2017) - Intrinsyc Technologies Corporation (TSX: ITC) (OTC: ISYRF) ("Intrinsyc" or the "Company"), a leading provider of solutions for the development of embedded and Internet of Things ("IoT") products, today announced the receipt of a follow-on order from an existing IoT client valued at US$572,500 for their custom single board computer ("SBC") from Intrinsyc. The client creates high resolution imaging and analytic products for commercial customers.
The SBC is based on the Company's Open-Q™ computing module, and modified for form and function as required for the client's application. Intrinsyc plans to manufacture and deliver the SBCs in the second quarter, ending June 30, 2017. Additional follow-on orders from this client are anticipated to be received in 2017.
"We are delighted to see our client achieve remarkable success with their product, which is based on a custom single board computer designed and manufactured by Intrinsyc," stated Mark Waldenberg, Vice President, Global Sales, Intrinsyc. "Intrinsyc's Open-Q modules are a great starting point for IoT applications with demanding compute capabilities, and our ability to create customized solutions specifically tailored to our clients' needs truly sets us apart."
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. The words "may", "would", "could", "will", "likely", "expect," "anticipate," "intend", "plan", "forecast", "project", "estimate" and "believe" or other similar words and phrases may identify forward-looking statements or information. 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. Risk factors are described in the Company's reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2015. 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. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
About Intrinsyc Technologies Corporation
Intrinsyc Technologies Corporation is a product development company that combines production ready computing engines with unmatched product development expertise to enable rapid commercialization of embedded and Internet of Things ("IoT") products. Intrinsyc has successfully delivered over 1,000 projects from mobile phones and tablets to IoT products like robotics, wearables, connected cameras, augmented reality glasses, and many more. Intrinsyc's Open-Q™ System on Modules incorporate the industry's most advanced processor technology available, and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC) (OTC: ISYRF) and is headquartered in Vancouver, BC, Canada, with additional product development centers in Boulder, CO, and Taipei, Taiwan.