VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 12/18/14 — Apivio Systems Inc. (formerly Moimstone Corporation) (“Apivio” or the “Company”) (TSX VENTURE: APV) is pleased to report progress with the initial launch of its next generation Monet series VoIP enterprise video phones. Pursuant to its development agreement with NEC Corporation of America (“NEC”), Apivio has received orders for 2,000 UT880 VoIP enterprise phones to be shipped in Q1 2015.
“We are pleased that our collaborative effort with NEC on design specifications for the new UT880 enterprise phone has resulted in NEC approval of the design and specifications of the phone for the enterprise market,” stated Rob Bakshi, President and CEO of Apivio Systems Inc. “The next generation Monet series VoIP product line extends Apivio–s products into a new growing segment that will enable a recurring revenue stream from new applications. This also serves as a confirmation of the demand for our technology and the direction of our product and platform development.”
“Innovative features and smart design are high on NEC–s list and we are confident that this phone will be well received in the market,” said Ram Menghani, VP of Product Management, NEC Corporation of America.
Apivio–s product development strategy in the smart enterprise phone space is to develop innovative new Smart VoIP phones that will provide compelling value to customers and create new recurring revenue streams for the Company. The Company plans to grow its enterprise sales in the North American market by introducing a range of new phones that will address various vertical markets and provide applications to support those vertical markets.
The Company is currently in the process of launching a new website that will highlight its new products.
“This is the most ambitious platform developed to date by our team and it will pay dividends for Apivio, NEC and their customers for years to come. Software features and applications that will be developed by Apivio, NEC and third parties are expected to enable upgrades, cross platform compatibility, enterprise connectivity and user productivity,” added Bakshi. “The days of the traditional enterprise phone becoming obsolete due to technology, features and changing user requirements are over.”
About Apivio Systems Inc.
Apivio Systems Inc. (formerly Moimstone Corporation) (“Apivio” or the “Company”) (TSX VENTURE: APV) 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 telecommunications carriers. For more information regarding Apivio, please refer to its respective public filings available at .
About NEC Corporation of North America
Headquartered in Irving, Texas, NEC Corporation of America is a leading provider of innovative IT, network, communications and biometric solutions for customers across multiple vertical industries, including healthcare, public sector, education and hospitality. NEC Corporation of America delivers one of the industry–s broadest portfolios of technology solutions and professional services, including communications, analytics, biometrics, managed services and technology solutions that unleash customers– productivity potential. NEC Corporation of America is a wholly-owned subsidiary of NEC Corporation, a global technology leader with a presence in 140 countries and $29.5 billion in revenues. For more information, please visit
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, budget”, “scheduled”, “suggest”, “optimize”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, believes”, “anomalous” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Although Apivio has attempted to identify important factors that could affect Apivio and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Apivio does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts:
Apivio Systems Inc.
Rob Bakshi
President and Chief Executive Officer
+1-604-244-3700
PR Contact
Steve Kim
Boilingpoint Group
+1-604-630-7943
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