Science & Technology
Science and Technology
Science and Technology
Tue, January 27, 2009 Glowpoint Continues to See Increased Adoption
HILLSIDE, N.J.--([ BUSINESS WIRE ])--Glowpoint, Inc. (OTC:[ GLOW ].OB), a leading provider of advanced video communications solutions, today announced that it has been awarded a new contract valued at more than $1 million from one of the largest engineering firms in the world.
"This client is leveraging Glowpoint's bundled managed service solutions to support its expanded use of video communications for travel reduction and increased productivity, and to communicate business-to-business with vendors and customers around the world," said Joe Laezza, Glowpoint's President and COO. "Our proven ability to provide a total global managed video solution for this long-time client and grow with them, supporting new applications of video such as business–to-business quality video calling, makes Glowpoint the perfect partner to help them compete effectively in this challenging global economy."
The new agreement has a three year term and will drive incremental net new recurring revenue of approximately $30,000 per month. Glowpoint will provide its bundled managed service with IP network services to support HD video communications at an additional 10 sites under this new contract, increasing the client's total sites utilizing Glowpoint's managed services to 49 locations globally.
Jonathan Brust, Glowpoint's VP of Marketing added, "We are seeing a key tipping point in the advanced video communications market as customers are introduced to HD video and telepresence systems and are convinced that video communications has begun to achieve the quality and reliability required for wide adoption. Many of our customers are seeking to deploy video throughout their organizations and, as such, are turning to HD video solutions where full-scale telepresence solutions are not affordable."
About Glowpoint
Glowpoint, Inc. (OTC BB: GLOW.OB) is a leading provider of advanced video communications solutions. Glowpoint's suite of advanced and robust telepresence and video communications solutions enable organizations to communicate with each other over disparate networks and technology platforms. Glowpoint supports thousands of video communications system in over 35 countries with its 24/7 video management services, powering major broadcasters, Fortune 500 companies, as well as global carriers and video equipment manufacturers and their customers around the world. To learn more, visit [ www.glowpoint.com ].
The statements contained herein, other than historical information, are or may be deemed to be forward-looking statements and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. These factors, risks, and uncertainties include market acceptance and availability of new video communication services; the nonexclusive and terminable-at-will nature of sales agent agreements; rapid technological change affecting demand for our services; competition from other video communications service providers; and the availability of sufficient financial resources to enable us to expand our operations, as well as other risks detailed from time to time in our filings with the Securities and Exchange Commission.
