Intrinsyc Announces New Orders Valued at US$797,000
Orders Include Computing Modules for a Client Launching a New Consumer IoT Product and Development Services for a Medical Device Company
VANCOUVER, British Columbia, Dec. 24, 2019 (GLOBE NEWSWIRE) — Intrinsyc® Technologies Corporation (TSX: ITC and OTCQX: ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development of embedded and Internet of Things (“IoT”) products, today announced the receipt of orders, last week, from multiple clients that are in aggregate valued at US$797,000.
Orders for the Company’s Open-Q™ embedded computing modules are valued at US$475,000 and orders for IoT product development services are valued at US$322,000. Included in the orders was a hardware order for a new client that is beginning commercial shipments of a camera device and a new product development agreement for a medical device company that is building a device based on the Company’s Open-Q™ 660 µSOM (Micro System on Module)
“I’m pleased to add these new orders for our Open-Q computing modules and product development services; including the design win for our Open-Q™ 660 µSOM,” stated Cliff Morton, Vice President, Client Solutions, Intrinsyc. “Intrinsyc’s Open-Q™ 660 µSOM is an ideal platform to power consumer and industrial IoT devices capable of artificial intelligence and machine learning.”
About Intrinsyc Technologies Corporation
Intrinsyc provides comprehensive product development services, as well as the industry’s highest-performance edge AI computing modules, to enable rapid commercialization of intelligent Internet of Things (“IoT”) products. Intrinsyc has successfully delivered over 1,400 client projects including sophisticated consumer and industrial IoT products like: robotics, connected cameras, smart displays, augmented reality, smart buildings, wearables, in-vehicle infotainment, and many others. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology from Qualcomm Technologies Inc., and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTCQX: ISYRF) and is headquartered in Vancouver, BC, Canada; with additional product development centers in Taipei, Taiwan, and Bangalore, India.
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Intrinsyc Technologies Corporation