MONTREAL, June 28, 2016 /CNW Telbec/ - EXO U Inc. ("EXO U" or the "Corporation") (TSXV: EXO) today announced that it has entered into an amendment (the "Amendment") to the previously announced reseller agreement (the "Agreement") with a division of Panasonic Corporation of North America ("Panasonic"). The Amendment provides for the sale and distribution of 1,500 Ormiboard Pro licenses with Panasonic's technology solutions for kindergarten – Grade 12 (K-12), higher education, and professional meeting spaces. EXO U will provide licensing of its Ormiboard Pro software to Panasonic for one year, renewing on an annual basis thereafter. The Amendment sets forth the pricing, support and maintenance services to be provided by EXO U and provides for joint sales and marketing efforts through Panasonic's established network of resellers with a proven track record of success in the U.S. education markets.
The device-agnostic Ormiboard Pro goes beyond presenting and testing by opening up whole-class creation and participation. With ping-pong sharing and group collaboration, Ormiboard Pro users create sessions where everyone can watch and participate in the lessons. In a classroom setting, teachers can select a screen from a student device and share it on the front-of-class display.
Ormiboard Pro is designed for schools and districts and is primarily offered through distribution channels. Ormiboard Pro is an installed software with a perpetual license and enables complete device integration and collaborative sharing over existing networks via local WIFI (no internet access required). Ormiboard Pro is optimized for fast speed and split-view capabilities for multi-touch panels and tables, and gives administrators dashboard control over building, classroom, teacher, user and content grouping.
Kevin Pawsey, CEO of EXO U, stated, "We have worked with Panasonic closely over the last six months to really understand their customers' requirements and this commitment to Ormiboard Pro is a testament to really focusing on the functionality within Ormi that resonated most to prospects. I am very pleased with how we have worked together and that we now have a commitment from this top-tier, international company".
Dan Deem, Director of Sales, Visual Systems for Panasonic, added, "We are excited to add Ormiboard Pro to our collaborative offering for education and business customers. It's a great marriage between two high end technology brands".
About EXO U
EXO U's shares trade on the TSX Venture Exchange under the ticker symbol EXO. EXO U develops an innovative software platform which enables businesses and educational institutions to securely mobilize and manage their mobile workforce and students by delivering engaging experiences spanning desktop and mobile applications. At the core of EXO U's platform is the smart and agnostic EXO engine that unifies multiple software platforms, allowing devices to interact and communicate seamlessly together. EXO U was recently a finalist for the 2016 SIIA CODiE Award. For more information, visit http://www.exou.com and follow us on Twitter @exo_u.
Cautionary Note Regarding Forward-Looking Information
Certain statements included herein, including those that express management's expectations or estimates of EXO U's future performance or future events, constitute "forward-looking information" within the meaning of applicable securities laws. Such forward-looking information and statements are often, but not always, identified by the use of words such as ""plans", "expects", "estimates", "intends", "anticipates", or "believes", or variations of such words and phrases (or the negative form thereof) or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic, regulator and competitive uncertainties and contingencies that could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. For additional information with respect to certain of these and other assumptions and risk factors, please refer to EXO U's management's discussion and analysis for the year ended March 31, 2015, available under the Company's profile on SEDAR at www.sedar.com. Forward-looking information contained herein is presented as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. 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 are cautioned not to place undue reliance on these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE EXO U Inc
For further information: Media contacts: Ian Bryan, Vice President, Marketing, EXO U Inc., (678) 373-9263, firstname.lastname@example.org; Investor contacts: Kevin Pawsey, Chief Executive Officer, EXO U Inc., (508) 367-1729, email@example.com; Shan Ahdoot, President, EXO U Inc., (480) 313-5983, firstname.lastname@example.org