MONTREAL, Dec. 23, 2014 /CNW Telbec/ - EXO U Inc.(TSXV: EXO.V) ("EXO U"), a software provider that develops cross platform, operating system agnostic software that enables development of highly customizable touch-based user interfaces and experiences, today announced that it has entered into its first contract in Europe.
The contract is with the Institute of Economics and Management, a university located in the Russian Federation. The contract provides that after a pilot phase in the early spring, a full deployment of the EXO U Educational Software will take place encompassing the entire Institute. This will initially involve 2,360 users. The initial term of the contract is 10 years. The amount of revenues that EXO U expects to receive from this contract were not disclosed.
"We live in a fast-moving world today. Education is also evolving: the system of education and methods of teaching are changing. If we want to be in step with the times, we should move towards the modernization of our teaching processes," said Vazagov Viktor Misostovich, Rector, Institute of Economics and Management, Pyatigorsk, Russia.
"We are very pleased to be able to announce this milestone" said Shan Ahdoot, President and CEO of EXO U. "We have identified eastern Europe as one of our target markets and we anticipate that this will help us to build momentum for other opportunities in the region, where we have been very active. We will work hard with the Institute to make this a showcase installation of our unique educational solution".
The EXO U Educational software provides functionalities to create, distribute and manage content and applications across multiple platforms, giving the teachers the tools to effectively manage technology use by students in the classroom and providing an engaging experience where students can securely collaborate and learn.
About EXO U
EXO U's shares trade on the TSX Venture Exchange under the ticker symbol EXO.V. 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 EXOengine that unifies multiple software platforms, allowing devices to interact and communicate seamlessly together. It enables true mobility for businesses and educational organizations by solving important mobility issues such as security, privacy, collaboration, and management of application and content. EXO U's technology agnostic framework delivers to end users a safe, reliable, and intuitive Smart Workspace designed for connecting with people, accessing services, and sharing information and digital content, while requiring minimal infrastructure and optional Internet connectivity. It simplifies management of the entire application lifecycle, freeing the organizations to focus on building engaging apps that work across different operating systems and form factors, thus increasing productivity for developers and reducing total cost of ownership for organizations. By offering an engaging and exceptional user experience on all computing devices, without compromising security or protected information, the EXO U enterprise and education solutions allow organizations to embrace consumerization and enjoy all the benefits of mobile. For more information, visit http://www.exou.com and follow us on Twitter @exo_u.
Disclaimer in Regards to Forward Looking Statements
Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions. These statements include those that include the words "expects", "anticipate", "will" and similar words. The results or events predicted in these forward-looking statements may differ materially from actual results or events and there is no assurance that discussions with any government authorities will result in a definitive agreement. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. For additional information with respect to certain of these and other assumptions and risk factors, including risk factors that may cause actual results and future events to differ materially from the plans and expectations described in this release, please refer to EXO U's management's discussion and analysis for the three- and six-month periods ended September 30, 2014 available under the Company's profile on SEDAR at www.sedar.com. The forward-looking information contained in this press release represents EXO U's current expectations. EXO U disclaims any intention and assumes no obligation to update or revise any forward-looking information, except pursuant to applicable securities laws.
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SOURCE: EXO U Inc
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