Tech & Science OMNIQ Corp. Awarded $1.8-Million Challenge from a Multi-billion Buck...

OMNIQ Corp. Awarded $1.8-Million Challenge from a Multi-billion Buck World Steel Answers Supplier Different OTC:OMQS


  • Challenge comprises provide of cell units, tool and services and products for the implementation of an complicated logistics program for product deliveries
  • Award follows over $7.5 million in orders from the Healthcare and Logistic Services verticals introduced all through Q3

SALT LAKE CITY, Sept. 22, 2020 (GLOBE NEWSWIRE) — OMNIQ Corp. (OTCQB: OMQS) (“OMNIQ” or “the Corporate”), a supplier of Provide Chain and Synthetic Intelligence (AI)-based answers, nowadays introduced that it’s been awarded a challenge with a complete worth of roughly $1.Eight million through an international steel answers supplier and one of the crucial greatest metals services and products corporations in North The usa. The challenge is composed of roughly $1.2 million for the provision of Android-based cell computing units with conversation functions and roughly $0.6 million for tool and services and products. It represents greater than 100% build up from the client’s acquire orders from OMNIQ in 2019.

The client serves over 100,000 of its personal shoppers thru over 300 places within the U.S. and operations in over a dozen international locations. The corporate will use the {hardware}, tool and services and products from OMNIQ for the implementation of a brand new logistics program that complements the dissemination of knowledge to their very own shoppers about product deliveries. With a powerful center of attention on bettering efficiencies and fast supply, the complicated logistics initiative will supply their shoppers with real-time updates on deliveries of orders, in addition to telematics knowledge from the supply vans.

“As soon as once more, we’re excited to offer an industry-leading buyer with its computing must make stronger strategic efforts in attaining operational potency,” stated Shai Lustgarten, President and CEO of OMNIQ. “This challenge represents our cast place as a competent and relied on multi-vertical provider to one of the most maximum prestigious corporations within the U.S. Complimenting the provision of tough provide chain automated answers to more than one verticals, we also are specializing in enforcing our Neuronic-based AI answers for the provision chain {industry}, as we do within the Fatherland Safety and Sensible Town verticals. Now we have a powerful, long-term courting with this buyer, which we intend to set as usual in {our relationships} with different Fortune 500 corporations who view us as their provider of selection. Already in 2020, and however promoting demanding situations posed through COVID-related social distancing, now we have inked provide agreements with {industry} leaders within the grocery store, healthcare, and now fundamental fabrics industries, along with our successes with govt businesses and educational establishments.”

Also Read  Lantronix kündigt ultrakompaktes Open-Q 865XR-Device-on-Module (SOM) für Web-of-Issues-Lösungen an Nasdaq:LTRX

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: OMQS) supplies automated and system imaginative and prescient symbol processing answers that use patented and proprietary AI era to ship knowledge assortment, real-time surveillance and tracking for provide chain control, place of origin safety, public protection, visitors & parking control and get right of entry to keep watch over programs. The era and services and products supplied through the Corporate lend a hand shoppers transfer other folks, belongings and information safely and securely thru airports, warehouses, colleges, nationwide borders, and plenty of different programs and environments.

Also Read  New Industrial 5G Deployments and Subscriptions March Forward

OMNIQ’s shoppers come with govt businesses and main Fortune 500 corporations from a number of sectors, together with production, retail, distribution, meals and beverage, transportation and logistics, healthcare, and oil, fuel, and chemical compounds. Since 2014, annual revenues have grown to greater than $50 million from shoppers in the US and in another country.

The Corporate lately addresses a number of billion-dollar markets, together with the World Secure Town marketplace, forecast to develop to $29 billion through 2022, and the Ticketless Secure Parking marketplace, forecast to develop to $5.2 billion through 2023.

Details about Ahead-Taking a look Statements

“Secure Harbor” Commentary beneath the Personal Securities Litigation Reform Act of 1995. Statements on this press unencumber in relation to plans, methods, financial efficiency and tendencies, projections of result of particular actions or investments, and different statements that don’t seem to be descriptions of ancient details is also forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995, Segment 27A of the Securities Act of 1933 and Segment 21E of the Securities Alternate Act of 1934.

This unencumber incorporates “forward-looking statements” that come with knowledge in relation to long run occasions and long run monetary and running efficiency. The phrases “watch for”, “might,” “would,” “will,” “be expecting,” “estimate,” “can,” “consider,” “attainable” and equivalent expressions and permutations thereof are meant to spot forward-looking statements. Ahead-looking statements will have to now not be learn as a ensure of long run efficiency or effects, and won’t essentially be correct indications of the days at, or through, which that efficiency or the ones effects shall be completed. Ahead-looking statements are in response to knowledge to be had on the time they’re made and/or control’s excellent religion trust as of that point with recognize to long run occasions, and are topic to dangers and uncertainties that would reason precise efficiency or effects to range materially from the ones expressed in or steered through the forward-looking statements. Vital elements that would reason those variations come with, however don’t seem to be restricted to: fluctuations in call for for the Corporate’s merchandise in particular all through the present well being disaster , the creation of latest merchandise, the Corporate’s skill to care for buyer and strategic trade relationships, the have an effect on of aggressive merchandise and pricing, expansion in centered markets, the adequacy of the Corporate’s liquidity and fiscal energy to make stronger its expansion, the Corporate’s skill to control credit score and debt buildings from distributors, debt holders and secured lenders, the Corporate’s skill to effectively combine its acquisitions, and different knowledge that can be detailed from time-to-time in OMNIQ Corp.’s filings with america Securities and Alternate Fee. Examples of such ahead searching statements on this unencumber come with, amongst others, statements relating to earnings expansion, riding gross sales, operational and fiscal tasks, price aid and profitability, and simplification of operations. For a extra detailed description of the chance elements and uncertainties affecting OMNIQ Corp., please check with the Corporate’s contemporary Securities and Alternate Fee filings, which can be to be had at OMNIQ Corp. undertakes no legal responsibility to publicly replace or revise any forward-looking statements, whether or not on account of new knowledge, long run occasions or another way, until another way required through legislation.

Also Read  No. 25/2020 - Managers' transactions Copenhagen Inventory Alternate:TPSL
Also Read  Lantronix kündigt ultrakompaktes Open-Q 865XR-Device-on-Module (SOM) für Web-of-Issues-Lösungen an Nasdaq:LTRX

Investor Touch:
[email protected]

Latest news

Google is popping off face retouching through default on Pixel units

Taking selfies has grow to be a revered conference within the time of on-line media. But, our fixation on...

Hathras SP and four others suspended: The Indian Democracy suffering

The village in Uttar Pradesh’s Hathras the place a 19-year-old Dalit woman used to be allegedly gang-raped sooner than...

C’est maintenant mais pas n’importe remark

C’est devenu une réalité ! Le e-commerce B2B est une supply majeure d’opportunités pour le trade inter-entreprises. Boosté notamment...

Black Hat Europe 2020 Briefings Divulge New Cellular Vulnerabilities, Bluetooth Flaws, Assaults on PDF Paperwork and Extra

SAN FRANCISCO, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Black Hat, the sector’s main manufacturer of knowledge safety...

Bango and Evergent pair as much as enlarge OTT choices, holding shoppers on-line and entertained London Inventory Alternate:BGO

CAMBRIDGE, United Kingdom, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Bango (AIM: BGO), the worldwide platform for data-driven...

Umfrage identifiziert digitale Innovationslücke zwischen Marktführern und Nachzüglern; Ergebnisse zeigen ein verstärktes Streben nach „Virtual First, Virtual Rapid“

SAN FRANCISCO und BERLIN, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Contentful hat heute die Ergebnisse der branchenweit...

Must read

Google is popping off face retouching through default on Pixel units

Taking selfies has grow to be a revered conference...

Hathras SP and four others suspended: The Indian Democracy suffering

The village in Uttar Pradesh’s Hathras the place a...

You might also likeRELATED
Recommended to you