Agreement Follows Previously Announced Custom SOM Development Agreement
VANCOUVER, BRITISH COLUMBIA – March 17, 2014 – Intrinsyc Software International, Inc. (“Intrinsyc” or the “Company”) (TSX: ICS), a leading provider of solutions for the development of embedded and wireless devices, today announced the signing of a master supply agreement (the “Agreement”) with an Original Equipment Manufacturer (“OEM”) for a custom version of Intrinsyc’s Open-Q 8074 SOM. The Agreement follows a development agreement previously announced by the Company on December 12, 2013. The development agreement contained a commitment by the OEM to enter into a master supply agreement with Intrinsyc within 90 days for the purchase of a minimum of ten thousand of Intrinsyc’s Open-Q 8074 System on Modules over a twelve month period. The units committed to under this Agreement are expected to begin shipping late in the third quarter of 2014 with the minimum volume delivered within twelve months of the initial shipment.
In addition to a custom hardware design, Intrinsyc is providing a custom Linux implementation and software to provide industry leading compute performance in a low-power, small form factor embedded computing module. Other details of the product and the customer name remain confidential at the customer’s request.
"Although we can’t provide details on the customer’s product at this time, we are excited that the Open-Q 8074 was selected to power a very compelling product, which I believe will be a leader within its market,” stated Tracy Rees, CEO of Intrinsyc.
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About Intrinsyc Software International, Inc.
Intrinsyc Software International, Inc. (www.intrinsyc.com) is a product development company that provides hardware, software, and service solutions that enable next-generation embedded and wireless products. Solutions span the development life cycle from concept to production. These solutions help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX:ICS) and is headquartered in Vancouver, BC, Canada.
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