EYEfi to Power Axis Communications New Cloud Offering

TORONTO, ON / ACCESSWIRE / April 6, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI) (OTC:EGTTF) ("EYEfi") is pleased to announce a strategic agreement with Axis Communications in launching their new cloud offering powered by EYEfi Cloud.

Axis Communications is one of the world's leading manufacturers of highly sophisticated IP-network cameras and integrated security solutions. Axis is a trusted name in surveillance manufacturing, and active throughout large enterprise, government, and consumer market segments globally.

Axis Communications and EYEfi Group Technologies Inc. are working to deploy a streamlined cloud offering that will enable customers to connect to cloud services easily, while maintaining a high level of security. This is achieved by leveraging Axis Communications, One-Click Cloud Connection (O3C) services that provide strong integration of Axis cameras with EYEfi cloud. O3C, is a protocol that allows Axis devices to connect via a secure connection to a cloud video management system, such as EYEfi Cloud. The onboarding process is seamless and allows customers to add cameras to the EYEfi Cloud service, which is as simple as a press of a button. The strategic agreement with EYEfi enables Axis customers to activate, monitor and control their cameras on the internet easily and seamlessly.

"The ease with which our partners and customers can optimize Axis products is a driving force in every decision we make and advancement we pursue. I am excited to see how our new EYEfi Axis cloud offering will further simplify the security demands of thousands of end-users", says Wai King Wong, Regional Director, Oceania, Axis Communications.

The EYEfi Axis subscription-based offering will be available initially via Axis' expansive network of distributors and resellers in Australia and New Zealand, giving EYEfi access to tens of thousands of customers and many more camera installations. Axis plans to expand this offering into other major regions around the world, once launched here in Oceania. The partnership will provide a significant revenue opportunity for EYEfi with monthly recurring subscription fees for each camera that accesses the EYEfi Cloud platform.

EYEfi's CEO, Simon Langdon said, "We are delighted to report our successful integration into Axis IP networks and camera systems and are excited at the upcoming launch of Axis' new cloud offering - a highly scalable solution that will make life easier for thousands of new customers."

More information about Axis Communications can be found here
More information about EYEfi can be found here

About EYEfi in detail:

EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.

EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.

EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.

On behalf of the board of directors of
EYEFI GROUP TECHNOLOGIES INC.

"Simon Langdon"
Simon Langdon, CEO

For more information contact:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid 19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.

Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE: EYEfi Group Technologies Inc.