AmbiCom Signs Joint Development and License Agreement With PC Drivers HeadQuarters
MILPITAS, CA–(Marketwired – Sep 25, 2014) – AmbiCom Holdings, Inc. (OTCQB: ABHI), a leading designer and developer of innovative wireless hardware and tuning software products targeting the healthcare market and complex IT environments with more than one million devices sold worldwide, today announced that it has signed a Joint Development and License Agreement with PC Drivers HeadQuarters (DHQ) s/b/a Driver Support to use AmbiCom’s Veloxum solution for the development and commercialization of software products targeting home users.
Based in Austin, Texas, privately held DHQ is the leading provider of automated support products that update and maintain the complex list of drivers on home PC products for over 4 million active users. AmbiCom and DHQ will jointly develop the integration of the Veloxum application into the current DHQ offering. This will add the capability of automated performance tuning to the current offering of PC Driver Support.
“DHQ was one of the first to commercialize the internet, selling and supporting software products online since 1996. This relationship is expected to bring in at least $5 million of recurring revenue for the next calendar year and up to $30 million per year once it is fully launched,” said John Hwang, Chairman and CEO of AmbiCom.
“After offering technical support for home PC users for 20 years, we look forward to improving PC performance for our customers,” said Michael Hurd, President of DHQ.
It is anticipated that this combined offering will be market-ready by the end of the first quarter of AmbiCom’s 2015 fiscal year.
About the Veloxum Tuning Engine
Veloxum actively and continuously optimizes physical and virtual computers by optimizing operating system and application settings. It leverages the existing systems and computers by tuning the various components within their manufacturer supported settings. The solution enables all levels of computer users to maximize performance, increase workload density, and minimize costs, ultimately spending less on the physical infrastructure, thus dramatically reducing CAPEX and OPEX expenditure. The Veloxum products have been certified by Microsoft, IBM, VMware, and Citrix.
Customers such as Watermark Industries, Baron Funds, Colgate Palmolive, Integrated Axis, Deutsche Bank, the United States Department of Energy, and Maimonides Medical Center are enjoying significant cost savings with Veloxum. Veloxum was founded in September, 2007 and was awarded the Gartner “Cool Vendor” award in 2012 in the category of infrastructure management.
About AmbiCom Holdings, Inc.
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on Wi-Fi and Bluetooth® applications for the wireless medical, healthcare and automotive industries. AmbiCom purchases standard wireless products and designs and develops features and packaging to customize these products to its target OEM markets, including a new SDIO card to be sold to its OEM customers. AmbiCom believes there are unique opportunities as a result of the sheer size of the wireless healthcare market and the Company’s innovative approach and exemplary customer services. AmbiCom also designs and develops wireless home medical devices for non-healthcare applications for the retail market, including solar ionic toothbrushes that in general utilize light to activate an ionic process to remove plaque. The Company also expects to continue to expand on its non-recurring engineering projects. For more information, visit www.ambicom.com.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one of more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
AmbiCom Holdings, Inc.
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