5BARz™ Enters into Strategic Manufacturing Alliance with Kaynes Technology
SAN DIEGO--(BUSINESS WIRE)-- 5BARz International (OTCQB: BARZ) (www.5BARz.com) (“5BARz” or “the Company”), a technology leader in the cellular network extender industry and broadband networks, is pleased to announce that our wholly owned subsidiary, 5BARz India Pvt. Ltd., a leading Indian based technology startup in enhancing cellular reception at home and providing smart Wi-Fi and IoT hubs, today entered into a strategic manufacturing alliance with Kaynes Technology, in order to bolster its delivery against the landmark deal of supplying 5 million of its 5BARz™ ‘ROVR’ Wi-Fi Router & Smart IoT Hub units to a leading Broadband ISP in India.
Kaynes Technology India Private Ltd, Mysore, India is a highly acclaimed and awarded player in the Electronics System & Design Manufacturing Services space with a global footprint. Kaynes Technology will be manufacturing and supplying the ‘ROVR’ for 5BARz India markets. The exclusive supply agreement between Kaynes Technology and 5BARz India ensure favorable terms and financing for initial deployments. In addition, this alliance will enable 5BARz India to achieve extremely high ROIs and drastically ease capital requirements. Kaynes Technology, as a result, will emerge as the exclusive supplier of ‘ROVR’ products to 5BARz India and become one of the largest manufacturers of Wi-Fi hubs in India over the period of the agreement.
Commenting on the alliance, Ramesh Kannan, Managing Director, Kaynes India Pvt. Ltd. said, “5BARz has a suite of very innovative cutting-edge products. It will be our privilege to manufacture such highly evolved technologies and products from our manufacturing house here in India. ‘ROVR’ is a product which has several times the opportunity over and above the 5 million commitment it has already secured from a leading ISP."
Commenting on the alliance, Samartha Nagabhushanam, Managing Director & CEO, 5BARz India Pvt. Ltd. said, “Kaynes Technology is a very reputed manufacturing firm with over 2 decades of providing high quality electronics goods for India and the world. This alliance will greatly ease the delivery pressure of getting the first set of products on to Indian soil in this quarter. Their ability to deliver high quality manufactured goods and work as a manufacturing partner with us is what we have found as the key for this alliance."
Commenting on the alliance, Vasan Paulraj, Managing Director of Axis Capital, said, “With this alliance the company has secured a significant piece of the bridge financing which will enable the timely deployment and installation of the 5BARz ‘ROVR’ into thousands of homes in India."
Commenting on the alliance, Daniel Bland, CEO of 5BARz International said, “I want to welcome Ramesh and Kaynes Technology to the 5BARz family and we look forward to working together in bringing the 5BARz state of the art wireless connectivity technology solutions into millions of Indian homes over the next 5 years and beyond. Their financial commitment to our project is most welcomed and sends a very strong message.“
About 5BARz India
5BARz India Private Limited is one of India’s most promising technology start-ups that is well equipped to provide seamless connectivity solutions. 5BARz India is a part of 5BARz International Inc., a start-up that is delivering solutions for cellular and broadband network operators in providing clear, high quality signal and superior connectivity for their subscribers. 5BARz™ with its 2 state-of-the-art products, 5BARz™ ‘DISCOVERY’ Network Extender for cellular connectivity and the 5BARz™ ‘ROVR’ Wi-Fi Router & Smart IoT Hub for broadband connectivity is striving to solve the problem of in-home wireless connectivity. Due to the plug & play nature and zero installation cost, the 5BARz™ suite of products is emerging as the most attractive proposition in India.
The ultra-portable 5BARz™ ‘DISCOVERY’ Network Extender incorporates a patented technology to create a high engineering based, single-piece, plug and play device that strengthens weak cellular signals by amplifying even the poorest cellular signals from 1 bar to 5 bars, ensuring uninterrupted connectivity at home and work.
The 5BARz™ ‘ROVR’ Wi-Fi Router & Smart IoT Hub through its extensive innovations on delivering smart WiFi at homes introduces a break through approach in providing uninterrupted and superior coverage and connectivity across home and work with a smart approach to broadband. Its IoT capabilities cater to all home safety and security.
For further information on 5BARz India, visit www.5BARzIndia.com.
About 5BARz International Inc.
The 5BARz International Inc. business is focused on the global commercialization of patented product technologies branded under the name 5BARz®. 5BARz® is a cellular and broadband connectivity solutions company for application in the small office, home or for when users are mobile. 5BARz® incorporates patented technology to create highly engineered, single-piece, plug 'n play units that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices cellular connectivity device and an uninterrupted and smart solution for the broadband coverage solutions. 5BARz® represents a key solution for network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity. 5BARz International Inc.'s shares are publicly traded on the OTCBB under the ticker symbol BARZ.
For further information about 5BARz International, Inc., visit www.5BARz.com.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, and competition in general that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
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Source: 5BARz International