Intrinsyc Technologies Corporation
TSX : ITC

Intrinsyc Technologies Corporation

June 30, 2015 09:00 ET

Intrinsyc Signs New Development Projects and Increases Design Win Total for Open-Q™ Computing Platforms

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 30, 2015) - Intrinsyc Technologies Corporation ("Intrinsyc" or the "Company") (TSX:ITC), a leading provider of solutions for the development and production of intelligent connected products, today announced the achievement in recent days of four new design wins for the company's Open-Q™ embedded computing platforms with accompanying product development services in excess of $900K in aggregate and a product development agreement with a Fortune 500 company in excess of $450K. It is early in the development cycle and too soon to predict production volume from these projects. However, the Company expects production orders from these customers to begin in the fourth quarter of 2015, with volume ramping more significantly in 2016.

"Intrinsyc's Open-Q computing platforms lead the embedded computing industry in combining performance, power efficiency, functionality, and quality," stated Mark Waldenberg, Senior Director, Sales, Intrinsyc Technologies Corporation. "With these additional design wins, we are growing our customer base and increasing our engineering services backlog and expect to see increasing revenue from sales of Open-Q embedded computing platforms as these projects are completed."

Combined with previous design win customers, this brings the total number of customers currently developing products using Intrinsyc's embedded computing products to 28. The Company's design wins range across an array of embedded industries including: wearables, retail, digital signage, video conferencing, broadcast equipment, cameras, robotics, avionics, in-vehicle entertainment, and many more.

More information on the Company's Open-Q product line can be found at: http://www.intrinsyc.com/computing-platforms/snapdragon-computing-modules/

About Intrinsyc Technologies Corporation

Intrinsyc Technologies is a product development company that provides comprehensive and tailored solutions that enable the development and production of next-generation intelligent connected devices. Solutions span the product development life cycle from concept to production and help makers of intelligent connected devices create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX:ITC) and is headquartered in Vancouver, BC, Canada.

For more information, please refer to the Intrinsyc's website at www.intrinsyc.com.

© Intrinsyc Technologies Corporation. All rights reserved.

Intrinsyc and Open-Q and their respective logos are trademarks, registered and otherwise, of Intrinsyc Technologies Corporation in Canada, European Union, Taiwan, United States of America and other jurisdictions. Other products and services mentioned in this document are identified by the trademarks or service marks of their respective companies or organizations.

Contact Information

  • George Reznik
    Chief Financial Officer
    Intrinsyc Technologies Corporation
    Email: greznik@intrinsyc.com
    Phone: +1-604-678-3734