RiT Technologies (NASDAQ:RITT), a leading provider
of converged infrastructure management solutions that enable
companies to maximize the utilization and security of their network
infrastructure announced today that it has entered into a strategic
alliance with Yoga Automation Private Limited (Yoga), a leader in
smart building automation, to provide RiT's solutions locally in
India, with a several USD millions sales commitment. This
collaboration will enable the parties to offer immediate access and
availability to RiT's products, services and support through Yoga's
offices and logistic centers in Mumbai, Bangalore, New Delhi and
Ahmedabad. As a result, RiT will be positioned to achieve wider
market exposure of enterprise, carrier, and data center customers.
According to Gartner, "India's spending on IT infrastructure is
expected to reach $72.3 Billion in 2016, with IT budgets growing at
11.7 percent, compared with the world average of one percent."
"The significance of RiT's strategic agreement with Yoga is that
it allows us to act as a local company, enabling us to effectively
provide sales and support services closer to our customers," says
Assaf Skolnik, VP Regional Sales at RiT. "Yoga's market and
technology leadership, combined with our advanced converged
infrastructure management and physical connectivity solutions, will
enable India's enterprises to improve data center agility, optimize
capacity, reduce downtime, enforce best-practice policies and
reduce operational costs."
"This strategic alliance is a result of our shared vision of how
smart technology can improve efficiency for IT infrastructure to
improve productivity and create competitive advantage for Indian
enterprises," said Kamlesh Avasare, Director Sales with Yoga
Automations Private Limited. "RiT's set of wide range of solutions
is enabling IoT to the data center."
RiT's converged infrastructure management enable users to
centrally plan, map and automate communications and IT
infrastructure planning to maximize utilization, reliability and
security of the network, while minimizing unplanned downtime. These
solutions include full visibility of network configurations, work
flow management, asset utilization, environment and power IT
consumption, and track the exact location of all IP-based equipment
automatically. RiT's high performance, end-to-end structured
cabling solutions include high quality cables, outlets, connectors,
patch panels and adapters suited for next-generation
networks.
Yoga Automations Private Limited solutions include a cloud-based
Internet of Things(IoT) platform for smart homes and smart building
automation and as Access floors solution for data centers. Already
installed at Indiabulls (www.indiabulls.com) and Edelwiess
(www.edelweissfin.com), two of India's leading financial services
companies, Yoga boasts 10% market presence in India in Automation
and 25% Access Floors.
About Yoga Automation Private Limited
YOGA Automation specializes in Automation of lighting, air
conditioning, multimedia, security systems, and access controls via
Mobile and Web applications using neural network technologies.
Yoga provides automation and security solutions to Residential
and Commercial and brings world class technology and rich
experience in this domain including strong access to Data Centers
in the Indian market based on our Access Floors product.
About RiT Technologies
RiT Technologies (NASDAQ:RITT) is a leading provider of
converged IT infrastructure management and connectivity solutions.
RiT offers a platform that provides a unified way to manage
converged systems and services to improve network utilization,
streamline infrastructure operations, reduce network operation
cost, optimize future investments and enhance data security.
RiT's connectivity solutions includes IIM - Intelligent
Infrastructure Management, high performance end-to-end structured
cabling solutions.
RiT Technologies' subsidiary RiT Wireless Ltd. produces a range
of optical wireless solutions under the Beamcaster brand, which
provide high speed, highly secure data communications across indoor
open spaces.
Deployed around the world in data centers, large corporations,
government agencies, financial
institutions, telecommunications, airport authorities,
healthcare organizations and educational facilities. RiT's shares
are traded on the NASDAQ Capital Market under the symbol RITT.
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: Kobi Haggay
VP Products and Marketing
M: +972.54.4338382
kobi.haggay@rittech.com
www.rittech.com
Monica Maron
Spicetree Communications
Mobile: +972-54-5429529
monica.maron@spicetreecom.com
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