Medigus: Eventer Targets the Multi-billion Dollar Virtual Conference Market
February 23 2021 - 9:26AM
Medigus Ltd. (NASDAQ:MDGS), a technology company engaged in
advanced medical solutions and innovative technology, announced
today that Eventer Technologies Ltd., Medigus’ subsidiary (50.1%),
entered the multi-billion virtual conference market by signing an
exclusive licensing agreement to adopt Screenz Cross Media Ltd.
technology for virtual conferences.
Screenz is a virtual entertainment and events
technology company whose customer base includes Reliance Industries
(a Fortune 500 company and the largest private-sector corporation
in India), Fox, ABC, Disney, Univision and Viacom.
As part of the license agreement, Screenz will
provide and adapt its technology to Eventer to host and broadcast
virtual conferences, including an interactive player with
capabilities of broadcasting, recording and interactive layers on
video. By combining both companies’ knowledge and technology,
Eventer plans to offer innovative new solutions to the rapidly
growing virtual conference market for both its current and
potential customer base.
Multiple market studies referring to virtual
events, virtual conferences and virtual meeting software, predict
high scalability of these markets as a result of COVID-19 pandemic.
According to one market study, the global virtual events market
size was valued at $ 77.98 billion in 2019 and is expected to grow
at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2027.
The growing popularity of Unified Communication as a Service
amongst corporations, education institutes, and various other
organizations across industries is expected to drive the market
during the forecast period.
“2020 created many new opportunities for
Eventer, with high demand for advanced technological solutions for
virtual conferences and events. Eventer has an innovative
technology and years of experience in providing customers with
top-of-the-line solutions for online conferences, one of the most
growing fields this year. We believe Eventer has the opportunity to
become a key player in the market in a relatively short time,” said
Liron Carmel, CEO of Medigus.
In consideration for granting the license to use
the technology for virtual conferences and developing the necessary
adaptions, Eventer shall pay Screenz a total sum of
$1,500,000. In the first five months Eventer
shall pay Screenz a monthly sum of $40,000, a grace
period for Eventer’s planning and establishment of the operation.
Following the grace period, Eventer shall
pay Screenz the remaining sum of $1,300,000 in three
equal payments. The adaptation of the Screenz technology is
expected to be completed in the second half of 2021.
Screenz shall be entitled to 8% of the revenue received
from any use of the product
About Medigus
Medigus is traded on the Nasdaq Capital Market.
To learn more about the company’s advanced technology, please
visit www.medigus.com.
Cautionary Note Regarding Forward Looking
Statements
This press release may contain statements that
are “Forward-Looking Statements,” which are based upon the current
estimates, assumptions and expectations of the Medigus’ management
and its knowledge of the relevant market. Medigus has tried, where
possible, to identify such information and statements by using
words such as “anticipate,” “believe,” “envision,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,”
“contemplate” and other similar expressions and derivations thereof
in connection with any discussion of future events, trends or
prospects or future operating or financial performance, although
not all forward-looking statements contain these identifying words.
For example, Medigus uses forward looking statements when
describing the agreement between Eventer and Screenz, the
anticipated use and benefit to both parties and their prospective
users, that the growing popularity of Unified Communication as a
Service amongst corporations, education institutes, and various
other organizations across industries is expected to drive the
market during the forecast period, and the belief that Eventer has
the opportunity to become a key player in the market in a
relatively short time. These forward-looking statements represent
Medigus’ expectations or beliefs concerning future events, and it
is possible that the results described in this press release will
not be achieved, due to inter alia the spread of COVID-19 as well
as the restriction deriving therefrom. Nothing in the description
herein should be understood or construed as an announcement of the
consummation of the investment by Eventer in Screenz. By their
nature, Forward-Looking Statements involve known and unknown risks,
uncertainties and other factors which may cause future results of
Medigus activity to differ significantly from the content and
implications of such statements. Other risk factors affecting
Medigus are discussed in detail in Medigus’ filings with the
Securities and Exchange Commission. Forward-Looking Statements are
pertinent only as of the date on which they are made, and Medigus
undertakes no obligation to update or revise any Forward-Looking
Statements, whether as a result of new information, future
developments or otherwise. Neither Medigus nor its shareholders,
officers and employees, shall be liable for any action and the
results of any action taken by any person based on the information
contained herein, including without limitation the purchase or sale
of Medigus’ securities. Nothing in this press release should be
deemed to be medical or other advice of any kind.
Investor Contact
Oz AdlerChief Financial
Officer+972-8-6466-880ir@medigus.com
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