By VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 24, 2014) - Moimstone Corporation ("Moimstone") (TSX VENTURE:MSE) today announced the signing of a distribution agreement for a new Android™-based handset for the enterprise market with NEC Corporation of America ("NEC"), a leading provider and integrator of advanced IT, communications, managed services and biometric solutions. Under the agreement, Moimstone will develop a new Android handset platform for NEC. The product is scheduled to release in the fall 2014.
"NEC is extremely pleased with our new relationship with Moimstone, which is known for its best-in-class voice over IP ("VoIP") technology," said Ram Menghani, vice president, Unified Communications Products and Services, NEC Corporation of America. "We share Moimstone's vision of transforming traditional enterprise VoIP handsets into intelligent, interactive, interconnected and multi-functional devices. This new product will enable NEC to offer additional features and customizable options for our vertical markets, extending both the product life and value to our customers. We anticipate quite a bit of demand for this Android-based offering once the product is fully developed and available."
Moimstone and NEC will work together to set up and operate an app store to make it simple for end users to purchase and download software updates, as well as access additional features and applications.
Rob Bakshi, CEO of Moimstone, explained, "This is a historic moment for Moimstone. This agreement helps the company expand its sales beyond South Korea and Japan as well as enter new markets in addition to telcos and broadband carriers. Most importantly, this new direction changes the company from a hardware supplier to software-focused with a potential for higher gross margins and recurring revenue. I have complete confidence in our experienced and best-in-class team to execute this path."
About Moimstone
Moimstone Corporation 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.
About NEC Corporation of America
Headquartered in Irving, Texas, NEC Corporation of America is a leading provider of innovative IT, network, communications and biometric products and solutions for service carriers, Fortune 1000 and SMB businesses across multiple vertical industries, including Healthcare, Government, Education and Hospitality. NEC Corporation of America delivers one of the industry's broadest portfolios of technology solutions and professional services, including unified communications, wireless, voice and data, managed services, server and storage infrastructure, optical network systems, microwave radio communications and biometric security. NEC Corporation of America is a wholly-owned subsidiary of NEC Corporation, a global technology leader with a presence in 44 countries and more than $32 billion in revenues. For more information, please visit www.necam.com.
This press release has been prepared by Moimstone Corporation. 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.
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