Philadelphia, PA - July 21, 2020 (Investorideas.com Newswire) VSBLTY Groupe Technologies Corp. (CSE: VSBY) (Frankfurt: 5VS) (OTC: VSBGF) ("VSBLTY"), a leading provider of security and retail marketing technology, and Teralight, a global provider of over-the-top (OTT) services to mobile network operators, internet service providers and governments, today jointly announced the signing of a strategic alliance agreement to provide smart city applications enhanced with advanced analytics. Teralight has a strong global customer base in Eastern Europe and the Middle East as well as in Africa and Southeast Asia.
The announcement was made by VSBLTY Co-founder & CEO Jay Hutton and Melanie Salvador, Teralight CEO. Hutton said, "Teralight is a special kind of service provider with active relationships in the carrier community. Our products allow carriers to cost-effectively deploy new services from shared infrastructure in a highly competitive and scalable way. VSBLTY is delighted to partner with Teralight and looks forward to a mutually profitable relationship."
"The market for IoT/IoE and smart city applications coupled with associated analytics is growing exponentially worldwide. With the advent of 5G/6G and Wi-Fi 6, the demand for artificial narrow intelligence, specifically video surveillance with smart analytics, is leading the way. VSBLTY offers a unique, affordable and peerless service offering which we intend to develop into a suite of hosted service offerings, bundled or à la carte, to our customers," Melanie Salvador, CEO of Teralight, said. "We are pleased to partner with a company entrenched in the Americas. It allows us to work with our customers with confidence to deliver fantastic products together with custom deployment experience."
VSBLTY technology provides enhanced customer engagement and audience measurement using machine learning and computer vision. Its industry-leading VisionCaptor™ and DataCaptor™ software combine motion graphics and interactive brand messaging with cutting-edge computer vision measurement and insights. VSBLTY's AI-driven software, Vector™, provides advanced facial recognition that is crucial to enhancing today's security requirements when recognizing weapons or suspicious persons in a crowd.
The Company also announces that it has issued 1,000,000 performance shares at a deemed price of $0.30 per share to certain officers and senior directors of the Company upon achieving the milestone release of its OpenVINO™ software to general availability.
MarketSmart Communications Inc.
CHF Capital Markets
Cathy Hume, CEO
Linda Rosanio, 609-472-0877
About VSBLTY (www.vsblty.net)
Headquartered in Philadelphia, VSBLTY (CSE: VSBY) (Frankfurt:5VS) (OTC: VSBGF) ("VSBLTY") is the world leader in Proactive Digital Display™, which transforms retail and public spaces as well as place-based media networks with SaaS-based audience measurement and security software that uses artificial intelligence and machine learning.
About Teralight (www.teralight.com)
Teralight is a telecommunications solutions provider based in Vancouver, B.C., Canada. The company provides the most advanced software, implementing platforms in the following verticals: anti-fraud and revenue assurance, eSports, identity and access management, mobile payments, smart city applications and automated machine learning.
Melanie Salvador, CEO, +1.416.554.8563
This news release contains forward-looking statements, including statements regarding anticipated revenue to VSBLTY from its agreement with Synect, and other statements that are not historical facts. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's Annual Information Form and other public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.
FINANCIAL OUTLOOK INFORMATION
This news release contains "financial outlook information" regarding future revenue expectations, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above. Revenue and other estimates contained in this news release were made by VSBLTY management as of the date of this news release and are provided for the purpose of informing readers of the anticipated size of VSBLTY's agreement with Synect, and are not an estimate of profitability or any other measure of financial performance. Investors are cautioned that the financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein.
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