August 8, 2022

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OMNIQ Receives $6.1 Million Purchase Settlement from Primary U.S. Food Distributor

5 min read
  • Achieves a file of more than $11.5 million new orders considering that January 1st, 2021
  • OMNIQ to offer IoT remedies for Covid 19 accelerated will need to optimize effectiveness, automation and touchless Offer Chain pursuits
  • Deal consists of Technological Assistance Companies and product management software package

SALT LAKE Town, Feb. 04, 2021 (Globe NEWSWIRE) — OMNIQ Corp (OTCQB: OMQS) (“OMNIQ” or “the Company”), a service provider of Offer Chain and Artificial Intelligence (AI)-based alternatives, introduced today that it has received an somewhere around $6.1 million acquire agreement from a single of the premier foodstuff distributors in the U.S. and North The usa, with above $10 billion in annual revenue. The arrangement phone calls for the supply of cellular computerized IoT equipment for thousands of vehicles that supply merchandise in the US and Canada and is developed to gather, determine, monitor and trace property as properly as share and link gathered inventory info to the distributor’s inner IT program.

OMNIQ’s products permits the foremost foods distributor to produce the correct solution to the accurate shopper while eliminating the expenditure and inefficiency of outdated paper-dependent distribution solutions. Benefits contain far better client associations by making sure appropriate deliveries minimizes disagreements and create-offs associated to discrepancies. Delivery personnel are ready to present buyers with flawless invoices on-web-site, which speed up buy processing and payment. Tracking is offered which offers the customer genuine time insights into arrival occasions, more strengthening the bond with the distributor.

OMINQ’s faithful buyer is a pioneer in implementing most recent technologies in the offer chain operations as food distribution necessitates the larger specifications of freshness, precision and care. The distinct consumer provides food items and similar merchandise to Healthcare entities like dwelling amenities, long-time period treatment, hospitals and other institutional healthcare applications, to Educational services like Colleges, Universities, K-12 Colleges , as nicely as to places to eat, accommodations, daycare facilities, usefulness shops, camps and church buildings, cruise ships, amusement parks, stadiums, big-scale sporting gatherings and concerts, recreation facilities, correctional facilities and additional.

Shai Lustgarten, President & CEO at Quest, commented, ”$11.5 million in new orders been given in a small about 1 thirty day period, marks a fantastic commencing of FY 2021 and demonstrates the power of our organization model. It also highlights how Covid 19 has accelerated the will need to improve effectiveness, automation and touchless Offer Chain activities. We are proud to have been chosen however once again to more improve this customer’s operational efficiencies and imagine this purchase proves the worth of our detailed Components, Software package and Complex assist options. Our portfolio of mobility merchandise, ranging from voice-selecting headsets to barcode scanners, permits smarter selection-making by way of productive facts selection and evaluation. We glimpse ahead to continuing our relationship with buyers of this pedigree, as we fortify our supplying with advanced AI-based systems and device-vision answers.”

About OMNIQ Corp.
OMNIQ Corp. (OTCQB: OMQS) offers computerized and machine vision graphic processing methods that use patented and proprietary AI engineering to produce information selection, real-time surveillance and checking for provide chain management, homeland protection, general public basic safety, targeted traffic & parking administration and access control programs. The technology and providers furnished by the Company enable clients shift people today, property and info properly and securely by airports, warehouses, faculties, countrywide borders, and a lot of other apps and environments.

OMNIQ’s customers include things like authorities businesses and main Fortune 500 firms from quite a few sectors, together with manufacturing, retail, distribution, foods and beverage, transportation and logistics, health care, and oil, fuel, and substances. Considering that 2014, annual revenues have grown to extra than $50 million from customers in the United states and abroad.

The Organization currently addresses quite a few billion-greenback marketplaces, such as the World wide Safe and sound Town market, forecast to develop to $29 billion by 2022, and the Ticketless Harmless Parking sector, forecast to mature to $5.2 billion by 2023. For a lot more data, pay a visit to www.omniq.com.

Details about Forward-Looking Statements

“Safe Harbor” Statement below the Private Securities Litigation Reform Act of 1995. Statements in this push launch relating to programs, techniques, financial overall performance and developments, projections of results of specific pursuits or investments, and other statements that are not descriptions of historic facts may be ahead-searching statements inside of the meaning of the Non-public Securities Litigation Reform Act of 1995, Area 27A of the Securities Act of 1933 and Portion 21E of the Securities Exchange Act of 1934.

This launch includes “forward-seeking statements” that include facts relating to foreseeable future functions and long run money and running functionality. The text “anticipate”, “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and related expressions and versions thereof are meant to recognize forward-wanting statements. Ahead-hunting statements should not be browse as a promise of potential performance or benefits, and will not automatically be accurate indications of the occasions at, or by, which that efficiency or those results will be accomplished. Forward-hunting statements are based on details offered at the time they are produced and/or management’s excellent religion belief as of that time with respect to potential events, and are subject matter to risks and uncertainties that could induce genuine general performance or effects to vary materially from individuals expressed in or suggested by the ahead-on the lookout statements. Essential components that could trigger these dissimilarities incorporate, but are not limited to: fluctuations in need for the Company’s merchandise particularly for the duration of the current well being disaster , the introduction of new merchandise, the Company’s capacity to maintain client and strategic small business relationships, the affect of competitive items and pricing, development in specific marketplaces, the adequacy of the Company’s liquidity and money energy to assist its growth, the Company’s skill to handle credit rating and credit card debt constructions from distributors, debt holders and secured creditors, the Company’s capacity to successfully integrate its acquisitions, and other facts that might be in-depth from time-to-time in OMNIQ Corp.’s filings with the United States Securities and Exchange Fee. Examples of these forward seeking statements in this release include things like, among the some others, statements relating to profits expansion, driving revenue, operational and fiscal initiatives, value reduction and profitability, and simplification of functions. For a a lot more specific description of the danger elements and uncertainties affecting OMNIQ Corp., make sure you refer to the Company’s modern Securities and Trade Commission filings, which are out there at http://www.sec.gov. OMNIQ Corp. undertakes no obligation to publicly update or revise any forward-on the lookout statements, no matter whether as a result of new details, long term events or usually, except in any other case expected by legislation.

Trader Contact:

James Carbonara 
Hayden IR 
(646)-755-7412 
[email protected]  

Brett Maas 
Hayden IR 
(646) 536-7331 
[email protected]