TORONTO, ONTARIO--(Marketwire - Nov. 20, 2012) - Route1 Inc. (TSX VENTURE:ROI) ("Route1" or the "Company"), a security and identity management company, today announced that it has received a second purchase order from a component of the United States Department of Defense that the Company first referenced in a press release dated November 13, 2012 (the "Client").
This purchase order is for an additional 2,000 MobiKEY Fusion devices and 4,000 MobiKEY subscriptions covering the service period April 1, 2013 to March 31, 2014. The Company expects to ship the additional 2,000 MobiKEY Fusion devices during the fourth quarter of 2012.
This award follows on the November 13, 2012 announced purchase order covering the service period December 1, 2012 to March 31, 2013. The gross value of today's announced purchase order is approximately US $2 million.
As of April 1, 2013, the Client's users will be provisioned on their own identity and access management platform, a DEFIMNET. The DEFIMNET will be hosted at a secure Client hosting facility.
"Today's announcement is encouraging for many reasons. Not only do we have a highly respected military organization using our technology because of its strong data security architecture but the decision is also being driven by the real cost savings the Client will benefit from as many of the user's turn in their enterprise issued laptop. Users will now only need to use their CAC card, MobiKEY Fusion device and any internet connected personal or other computer to have a secure, remote access session," said Brian Brunetti, President, Route1 Inc. "The Client expects to realize annual cost savings in the order of magnitude of twice the annual cost of using the MobiKEY technology."
European Government Client Update
Route1 expects that due to budget cutbacks, its European Government client will be reducing the number of employees and contractors that will use the MobiKEY technology effective January 1, 2013. Route1 expects the annual gross revenue impact will be approximately CAD $460,000.
ABOUT ROUTE1, INC.
Route1 delivers industry-leading security and identity management solutions to enterprises worldwide, such as businesses, government and military, which need universal, secure access to all digital resources and sensitive data. These customers depend on The Power of MobiNET - Route1's communications and service delivery platform. MobiNET provides identity assurance and individualized access to networks and data. Route1's patented solutions are based on FIPS 140-2 cryptographic modules, and simplify the process of meeting increasingly stringent regulatory requirements for privacy and security. Headquartered in Toronto, Canada, Route1 is listed on the TSX Venture Exchange.
For more information, visit our website at: www.route1.com.
This news release contains statements that are not current or historical factual statements that may constitute forward-looking statements. These statements are based on certain factors and assumptions, including, expected financial performance, business prospects, technological developments, and development activities and like matters. While Route1 considers these factors and assumptions to be reasonable, based on information currently available, they may prove to be incorrect. These statements involve risks and uncertainties, including but not limited to the risk factors described in reporting documents filed by the Company. Actual results could differ materially from those projected as a result of these risks and should not be relied upon as a prediction of future events. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, except as required by law. Estimates used in this presentation are from Company sources.
This news release, required by applicable Canadian laws, and does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
(C) Route1 Inc., 2012. All rights reserved. Route1, the Route1 and shield design Logo, SECURING THE DIGITAL WORLD, Mobi, MobiSecure, Route1 MobiKEY, Route1 MobiVDI, MobiKEY, MC2, PurLINK, MobiLINK, MobiKEY IBAD, DEFIMNET, MobiNET, Route1 MobiNET, TruOFFICE, TruFLASH, TruOFFICE VDI, MobiKEY Fusion, EnterpriseLIVE, EnterpriseLIVE VO, MobiNET Agent and MobiKEY Classic, are either registered trademarks or trademarks of Route1 Inc. in the United States and or Canada. All other trademarks and trade names are the property of their respective owners. The DEFIMNET and MobiNET platforms and the MobiKEY, MobiKEY Classic and MobiKEY Fusion devices are protected by U.S. Patents 7,814,216 and 7,739,726, and other patents pending.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Capital Markets Advisor