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RiT Technologies' Shareholders Approve Product Alliance With Stins Coman
TEL AVIV, Israel, June 28, 2010-- In furtherance of its press release published on May 13, 2010,
RiT Technologies (NASDAQ: RITT) today announced that its shareholders have
approved the product alliance with Stins Coman Inc., its principal
shareholder. Under the terms of the product alliance agreement, RiT and Stins
Coman will jointly develop and market a new line of products based on
proprietary optical laser technologies.
The first product to be developed under the alliance will be a
highly accurate laser-based speed camera designed for use by traffic police,
which is expected to be ready for launch by the beginning of the fourth
quarter.
About RiT Technologies
RiT is a leading provider of intelligent solutions for
infrastructure management, asset management, environment and security, and
network utilization. RiT Enterprise solutions address datacenters,
communication rooms and workspace environments, ensuring maximum utilization,
reliability, decreased downtime, physical security, automated deployment,
asset tracking, and troubleshooting. RiT Environment and Security solutions
enable companies to effectively control their datacenters, communications
rooms and remote physical sites and facilities in real-time, comprehensively
and accurately. RiT Carrier solutions provide carriers with the full array of
network mapping, testing and bandwidth qualification capabilities needed for
access network installation and service provisioning. RiT's field-tested
solutions are delivering value in thousands of installations for top-tier
enterprises and operators throughout the world.
For more information, please visit our website:
http://www.rittech.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. For example, when we discuss a field trial which could lead to a
multi-million dollar Carrier deal, we are using a forward looking statement.
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. We are under no
obligation, and 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.
COMPANY CONTACT:
Eran Ayzik
CFO
+972-3-766-4249
erana@rit.co.il
Source: RiT Technologies Ltd
COMPANY CONTACT: Eran Ayzik, CFO, +972-3-766-4249, erana@rit.co.il
RiT Technologies' Shareholders Approve Product Alliance With Stins Coman
TEL AVIV, Israel, June 28, 2010-- In furtherance of its press release published on May 13, 2010,
RiT Technologies (NASDAQ: RITT) today announced that its shareholders have
approved the product alliance with Stins Coman Inc., its principal
shareholder. Under the terms of the product alliance agreement, RiT and Stins
Coman will jointly develop and market a new line of products based on
proprietary optical laser technologies.
The first product to be developed under the alliance will be a
highly accurate laser-based speed camera designed for use by traffic police,
which is expected to be ready for launch by the beginning of the fourth
quarter.
About RiT Technologies
RiT is a leading provider of intelligent solutions for
infrastructure management, asset management, environment and security, and
network utilization. RiT Enterprise solutions address datacenters,
communication rooms and workspace environments, ensuring maximum utilization,
reliability, decreased downtime, physical security, automated deployment,
asset tracking, and troubleshooting. RiT Environment and Security solutions
enable companies to effectively control their datacenters, communications
rooms and remote physical sites and facilities in real-time, comprehensively
and accurately. RiT Carrier solutions provide carriers with the full array of
network mapping, testing and bandwidth qualification capabilities needed for
access network installation and service provisioning. RiT's field-tested
solutions are delivering value in thousands of installations for top-tier
enterprises and operators throughout the world.
For more information, please visit our website:
http://www.rittech.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. For example, when we discuss a field trial which could lead to a
multi-million dollar Carrier deal, we are using a forward looking statement.
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. We are under no
obligation, and 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.
COMPANY CONTACT:
Eran Ayzik
CFO
+972-3-766-4249
erana@rit.co.il
Source: RiT Technologies Ltd
COMPANY CONTACT: Eran Ayzik, CFO, +972-3-766-4249, erana@rit.co.il