MONTREAL, Oct. 1, 2015 /CNW Telbec/ - EXO U Inc. (TSXV: EXO) ("the Company" or "EXO U "), a developer of the EXO U Mobile Engagement Platform, today announced that it has signed a non-binding Memorandum of Understanding (MoU) with QOMO HiteVision, L.L.C. ("QOMO"), a manufacturer of high technology electronic products located in Wixom, Michigan, USA. The MoU sets out the intention of EXO U to provide QOMO a fixed number of licences each year over a three-year commitment term for the EXO U Software on which students, teachers and administrators can learn, communicate, share and create digital content for use on multiple devices. The intent of the parties is to enter into a definitive licence agreement and master distribution agreement setting out the terms and conditions under which EXO U will license its EXO U Software to QOMO. It is expected that these agreements will be finalized by the end of October.
The companies intend to develop their partnership in three areas:
- Initial go-to--market strategy including training QOMO's reseller network, joint attendance at trade shows and joint presentations to school districts across the US.
- License Agreement for the EXO U Software to be included with every QOMO's Large Format Display sold into the education sector
- Master Distribution Agreement to distribute the EXO U Mobile Engagement Platform on other QOMO technologies and also to distribute to other leading businesses supplying mobile devices to the education sector.
"We are very pleased to begin this relationship with QOMO", said Shan Ahdoot, President and CEO of EXO U. "Our software and their hardware are highly complementary and we feel that together, we can have a very compelling offering in the market. The fact that QOMO, an established company in the market, intends to make a minimum volume commitment to us highlights their belief in our software solution and the relevant teaching and learning trends within Education"
"THE EXO U Mobile Engagement Platform gives QOMO the ability to really demonstrate the capabilities of our large format displays", Kevin Talintino, President of QOMO commented. "The fact that they are built on the Android platform means the teacher can still teach at the front of the class but then share content, activities and apps to the class, groups or individual students whatever device they are using and still give a common user experience. We want to make technology even easier for teachers to use in the classroom and make mobile more secure and seamless than ever. We are very excited about the potential and are pleased to be working with EXO U on this initiative'
About the EXO U Mobile Engagement Platform
The EXO U Mobile Engagement Platform can be used by school districts to empower educators to manage and share third-party digital materials and instructional content to almost any digital device. With both offline and online flexibility, EXO U creates a classroom-focussed, learner-centric platform that runs across multiple devices, is compatible with most operating systems, and delivers both online and offline access to instructional content in and beyond the classroom.
The EXO U Mobile Engagement Platform is device agnostic, supports and encourages collaboration and transparency within the classroom, optimizes efficiency, and handles open education resources (OER) seamlessly.
EXO U continues to expand its strategic channel, technology and content partner programs, with the goal of delivering joint integrated solutions to customers around the world.
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 EXO engine 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.
QOMO HiteVision L.L.C., an American company, is a global manufacturer of presentation technology for the education and corporate market. QOMO's comprehensive product line includes interactive touchscreens, touch tables, whiteboards, wireless presentation systems, document cameras, student response system and integrated classroom software solutions. Learn more about QOMO HiteVision at www.QOMO.com.
Disclaimer in Regards to Forward Looking Statements
Certain statements made in this press release that are not historical facts are forward-looking information within the meaning of application securities laws. The statements regarding the Company's and QOMO's expectations and intentions, including regarding their plans to enter into definitive agreements and the terms of such agreements are forward-looking statements. These forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events and there is no assurance that the discussions reflected in the MoU with QOMO will result in any definitive agreements being entered into on the terms described or at all. 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 regarding the Company's ability to continue as a going concern, please refer to EXO U's management's discussion and analysis for the year ended March 31, 2015 and for the quarter ended June 30, 2015 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 as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
SOURCE EXO U Inc
For further information: For investor or media inquiries, please contact: Doug McCollam, CFO, [email protected], 514-212-7407