SAN DIEGO--(BUSINESS WIRE)--5BARz International (OTCQB:BARZ) (www.5BARz.com) (“5BARz” or “the Company”), a technology leader in the cellular network extender industry and broadband networks, is pleased to announce that our wholly owned subsidiary, 5BARz India Private Limited, today announced the signing of a landmark strategic deal with a top Internet Service Provider (ISP) to connect 5 million Indian homes to the Internet. The Company also disclosed today that it has entered the wireless router business through its advanced Fuji Wi-Fi broadband router.
The agreement stipulates a commitment by the top ISP to deploy a minimum of 5 million 5BARz Wi-Fi routers over a period of five years. 5BARz India secured this order for its advanced Wi-Fi experience suite, which is delivered through its next generation router, 5BARz Fuji, as well as its 5BARz Smart Experience connectivity software. The Company did not disclose the specific terms of the agreement honoring confidentiality.
Daniel Bland, Founder and Global CEO of 5BARz International, Inc., commented on today’s news, “The deployment agreement with this ISP marks an exciting milestone for 5BARz as we have now entered the Wi-Fi router space. Our best in class Fuji router serves the substantial need for better broadband in India, a market with significant growth potential. With the launch of our Wi-Fi router business, we now have a portfolio of technology solutions consisting of our cellular network extender and the broadband Fuji router, and now offer a diversified suite of best in class products enhancing wireless connectivity throughout the home. Through our Wi-Fi router business, we have created parallel sales strategies and revenue generating opportunities, enhancing value for both current and future investors.”
Vasan Paulraj, Managing Director and Business Head – Financial Sponsors Group at Axis Capital, which serves as 5BARZ India’s Investment Banker, commented on today’s news, “This is one of the most significant deals in the Indian telecom industry in the last several years and the way that 5BARz India’s last mile connectivity is monetized is extremely innovative. The creativity of 5BARz management in structuring this deal exemplifies the qualities we look for in the executive teams of those technology companies with which we partner, and was the key to successfully closing this transaction. We are in the process of raising the capital required for this rollout and fully support 5BARz India in this endeavor.”
Samartha Nagabhushanam, CEO of 5BARz India Private Limited, commented, “Our 5BARz Wi-Fi Smart Experience will be available for the Indian market during this quarter, and we plan to launch the suite in multiple cities within the country over the coming months. We strive to take the connectivity experience to a new level, offering products and services that behave like an in-home assistant.”
Gil Amelio, Chairman of the Board of 5BARz International, Inc, commented, “This took a tremendous amount of effort to get this deal done and I would like to congratulate the entire team. This deal is a testament to our flexibility in responding to and recognizing market trends and market opportunities. Furthermore, we are extremely excited about the potential of this model in other markets around the world and look forward to continued growth in the future.”
About Axis Capital
Axis Capital is amongst India’s leading Investment Bank. Axis Capital is 100% subsidiary of Axis Bank, India’s 3rd largest Private Bank. Axis Capital has a track record of bringing companies in emerging sectors to the Indian capital market. Axis Capital maintains dominance as the #1 ECM Banker in Indian Capital Markets having successfully completed 41 ECM/Block, 23 M&A/Advisory, 5 Private Equity, 4 Structured Finance and 5 Public Debt transactions worth ~INR 70,000 crore (15 billion USD) since January 2015.
About 5BARz India
5BARz India Private Limited is one of India’s most promising technology start-ups that is well equipped to provide seamless connectivity solutions. 5BARz India is a part of 5BARz International Inc., a start-up that is delivering solutions for cellular and broadband network operators in providing clear, high quality signal and superior connectivity for their subscribers. 5BARz™ with it’s 2 state-of-the-art products, 5BARz™ Network Extender for cellular connectivity and the 5BARz™ Fuji for broadband connectivity is striving to solve the problem of last mile connectivity. Due to the plug & play nature and zero installation cost, the 5BARz™ suite of products is emerging as the most attractive proposition in India.
The ultra-portable 5BARz™ Network Extender incorporates a patented technology to create a high engineering based, single-piece, plug and play device that strengthens weak cellular signals by amplifying even the poorest cellular signals from 1 bar to 5 bars, ensuring uninterrupted connectivity at home and work.
The 5BARz™ Fuji through it’s single-piece, plug and play device introduces a break through approach in providing uninterrupted and superior coverage and connectivity across home and work with a smart approach to broadband.
For further information about 5BARz International, Inc., visit www.5BARz.com.
For further information on 5BARz India visit www.5BARzIndia.com.
About 5BARz International Inc.
The 5BARz International Inc. business is focused on the global commercialization of patented product technologies branded under the name 5BARz®. 5BARz® is a cellular and broadband connectivity solutions company for application in the small office, home or for when users are mobile. 5BARz® incorporates patented technology to create highly engineered, single-piece, plug 'n play units that strengthens weak cellular signals to deliver high quality signals for voice, data and video reception on cell phones and other cellular equipped devices cellular connectivity device and an uninterrupted and smart solution for the broadband coverage solutions. 5BARz® represents a key solution for network operators in providing clear, high quality signal for their subscribers with a growing need for high quality connectivity. 5BARz International Inc.'s shares are publicly traded on the OTCBB under the ticker symbol BARZ.
Legal Notice Regarding Forward-Looking Statements
The information contained in this release consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, market acceptance, future capital requirements, and competition in general that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
