Vuzix Announces Collaboration with Ubimax to Support World's First Everything-as-a-Service Smart Glasses Offering

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Nov 05, 2019, 11:05 ET

ROCHESTER, N.Y., Nov. 5, 2019 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced a collaboration with Ubimax, a leading provider of industry-standard AR solutions for wearable computing, to support the rollout of the Everything-as-a-Service (XaaS) offering with the Vuzix M400 Smart Glasses.

The Everything-as-a-Service (XaaS) offering from Ubimax allows customers to deploy Vuzix M400 Smart Glasses and Ubimax Frontline solutions at scale without the upfront capital investment traditionally required when deploying smart glasses solutions. For a $200 monthly fee (excluding taxes) with no additional upfront costs (subject to a 24-month subscription and minimum unit volume commitment), the XaaS solution includes use case-specific workflows for inspection, remote support and order picking, alongside all necessary hardware, software, and services. The XaaS offering from Ubimax will allow enterprise companies to implement Vuzix M400 Smart Glasses and Ubimax Frontline solutions rapidly and without any upfront investment, resulting in almost immediate ROIs. Both Ubimax and Vuzix will be selling this solution.

"The XaaS Everything-as-a-Service offering from Ubimax, coupled with the Vuzix M400 Smart Glasses, offers enterprise customers a tremendous value proposition right out of the gate," said Paul Travers, President and CEO of Vuzix. "We are thrilled to be working alongside Ubimax to support the launch of their XaaS product offering and look forward to driving better business performance and ROIs across numerous industry verticals."

About Ubimax

Ubimax is a leading provider of fully integrated industrial augmented reality (AR) solutions. The solution platform Ubimax Frontline improves manual work processes across industries along the entire value chain on the basis of the latest wearable computing technologies. The solutions are designed to consciously empower the human worker in an increasingly digitized working environment. The Ubimax Frontline solutions have received numerous awards, including the Auggie Award for "Best Enterprise Solution", the MHI Award for "Best IT Innovation" and the Automotive Logistics Award. ABI Research calls Ubimax the world's leading company for industrial wearables and augmented reality solutions. In addition to four locations in Germany, Ubimax has subsidiaries in the USA and Mexico. With more than ten years of industry experience and a remarkable track record in wearable computing, augmented reality, mixed reality, and sensor systems, UbimaxO is leading the way. Ubimax today serves more than 250 customers worldwide and continues to grow.

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 147 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2019 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information, visit Vuzix website, Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to Vuzix Smart Glasses, our business relationship with Ubimax and the business success of the new service offering, and the Company's leadership in the Smart Glasses and AR display industry, among other things. These statements are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations, Vuzix Corporation [email protected] Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – [email protected] www.vuzix.com

SOURCE Vuzix Corporation