Virtus Group Note from TodayApivio Note:
Primus, a leading Canadian communications provider, announced this week that they have selected Apivio’s second generation Liberty L2 Wi-Fi phone to be field-tested with select Primus customers in the coming months. While it is too early to tell if this initial field testing will result in future unit orders from Primus, we view this as an important validation of Apivio’s technology vision in the North American market and as a potential growth catalyst for 2017.
As a reminder to our readers, the Liberty L2 Wi-Fi phone provides residential and business users the ability to stay connected across large facilities or multiple locations. The handset provides crystal clear sound quality and seamless call roaming between Wi-Fi routers, along with best-in-breed security features for users who work in a business environment with stringent security requirements.
Overall, we found this news exciting because it shows that once again Apivio is gaining considerable interest for its technology, this time with a large Canadian communications provider. 2017 has the potential to be an enormous year for Apivio as several growth catalysts are coming into view. First, the potential for an NEC Japan definitive agreement; second, the potential for large orders from independent service providers that may include Primus; and thirdly, the recent BroadSoft validations for Apivio’s products, which opens up a large new channel of service providers and systems integrators. Meanwhile, Apivio maintains a healthy, reliable South Korean business that generates positive cash flow and has delivered positive Adjusted EBITDA for 10 consecutive quarters.
We look forward to seeing what’s in store for Apivio for the remainder of 2016 and look forward to what’s to come in 2017.
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