RiT Technologies and Wipro Sign Cooperation Agreement
January 26 2015 - 9:00AM
RiT Technologies (Nasdaq:RITT)
, a
leading provider of Intelligent infrastructure Management and
cabling solutions announced today that it has signed an MOU with
Wipro Ltd. (NYSE:WIT), an international information technology,
consulting and outsourcing company. Under the agreement, the
parties will cooperate in identifying relevant projects in India
and customizing their integrated solutions for projects, to
maximize their business in India.
The cooperation between RiT and Wipro seeks to
address challenges faced by IT departments in dynamic, complex and
geographically distributed environments, along with the rising
demand for bandwidth, storage and computing power with limited
space and resources.
The RiT IIM solution provides complete visibility
and control of all network physical components, optimizes service
allocation to equipment and automates MACs, saving IT departments
considerable resources and maintenance time.
In addition, RiT's IIM solutions enable IT managers
to detect points of failure, prevent downtime and improve network
output. It also adds an extra layer of security, protecting mission
critical communications networks by guarding from unauthorized
connects and disconnects. RiT is forming this partnership as a
result of the growing demand in India for innovative IT
solutions. IT spending in India is projected to reach a total
of $73.3 billion in 2015, a 9.4 percent increase from the $67.1
billion forecast for 2014, according to Gartner.
"Intelligent infrastructure solutions provide the
flexibility and intelligence that IT departments need to respond to
rapid growth," said Assaf Skolnik, VP Sales EMEA and APAC at RiT
Technologies. "We are confident that our cooperation with
Wipro will enhance our value proposition by leveraging Wipro's vast
experience, knowledge and presence in the Indian market, and is
aligned with RiT's strategy of expanding our activity within
APAC." Wipro, adds, "Intelligent infrastructure management
helps Indian companies manage networks that are growing in size and
complexity. This cooperation between
RiT and WIPRO will strengthen our
joint positioning and help leading institutions meet
their dynamic information needs with the most efficient use of IT
resources."
About RiT Technologies
RiT Technologies (Nasdaq:RITT), is a leading provider of IIM and
structured cabling solutions and a developer of an innovative
indoor optical wireless technology solution. The RiT IIM products
provide network utilization for data centers, communication rooms
and work space environments. They help companies plan and
provision, monitor and troubleshoot their communications networks,
maximizing utilization, reliability and physical security of the
network while minimizing unplanned downtime. The RiT solutions are
deployed around the world in a broad range of organizations,
including data centers in corporate organizations, government
agencies, financial institutions, airport authorities, healthcare
and education institutions and more. Our BeamCasterâ„¢ product is an
innovative indoor optical wireless networking technology solution
designed to help customers streamline deployment, reduce
infrastructure design, installation and maintenance complexity and
enhance security in a cost effective way. RiT's shares are traded
on the NASDAQ Capital Market under the symbol RITT. For more
information, please visit: www.rittech.com
About Wipro Ltd.
Wipro Ltd. (NYSE:WIT) is a leading Information Technology,
Consulting and Business Process Services company that delivers
solutions to enable its clients do business better. Wipro delivers
winning business outcomes through its deep industry experience and
a 360 degree view of "Business through Technology" - helping
clients create successful and adaptive businesses. A company
recognized globally for its comprehensive portfolio of services, a
practitioner's approach to delivering innovation, and an
organization wide commitment to sustainability, Wipro has a
workforce of over 150,000, serving clients in 175+ cities across 6
continents. For more information, please
visit www.wipro.com.
Safe Harbor Statement
In this press release, all statements that are not purely about
historical facts, including, but not limited to, those in which we
use the words "believe," "anticipate," "expect," "plan," "intend,"
"estimate", "forecast", "target", "could" and similar expressions,
are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. While these
forward-looking statements represent our current judgment of what
may happen in the future, actual results may differ materially from
the results expressed or implied by these statements due to
numerous important factors, including, but not limited to, those
described under the heading "Risk Factors" in our most recent
Annual Report filed with the Securities and Exchange Commission
(SEC) on Form 20-F, which may be revised or supplemented in
subsequent reports filed with the SEC. These factors include,
but are not limited to, the following: our ability to raise
additional financing, if required; the continued development of
market trends in directions that benefit our sales; our ability to
maintain and grow our revenues; our dependence upon independent
distributors, representatives and strategic partners; our ability
to develop new products and enhance our existing products; the
availability of third-party components used in our products; the
economic condition of our customers; the impact of government
regulation; and the economic and political situation in
Israel. Except as otherwise required by applicable law, we
expressly disclaim any obligation to update the forward-looking
statements in this press release, whether as a result of new
information, future events or otherwise.
CONTACT: Tal Harel
Marketing Director
M: +972.50.6893437
talh@rittech.com
www.rit-tech.com
Monica Maron
Spicetree Communications
Mobile: +972-54-5429529
monica.maron@spicetreecom.com
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