MILPITAS, CA -- (Marketwired) -- 06/23/14 -- AmbiCom Holdings, Inc. (OTCQB: ABHI), a leading designer and developer of innovative wireless hardware and tuning software products targeting the healthcare market and optimizing complex IT environments with more than one million devices sold worldwide, today announced that it has appointed an Exclusive Sales Agent to represent the Veloxum product line in South Korea.
The Exclusive Sales Agent, Doo Sik Kim, is tasked with expanding the market presence for the Veloxum products and services to technology companies located in South Korea. Mr. Kim will provide introductory, sales, and advisory services to assist AmbiCom with business development and new account acquisitions. Mr. Kim is the CEO of Frontier Technology Ltd. in South Korea. AmbiCom agrees that it will not appoint any additional sales agents within Korea so long as a minimum of 250,000 deployed agents are sold within the first year, and a minimum of 500,000 deployed agents are sold the following year.
The cloud computer market in South Korea is expected to grow at an average rate of 22% per year between 2013 and 2018, according to a Research and Markets report that says government initiatives will contribute to the market growth. "With the ever expanding cloud computing market and server demand in Korea, we expect to see great revenue growth with the help of Mr. Kim," stated AmbiCom's CEO, John Hwang.
About Veloxum Performance Tuning Software
Veloxum actively and continuously optimizes physical and virtual infrastructure by optimizing operating system and application settings. It leverages the existing systems and infrastructure by tuning the various components within their manufacturer supported settings. The solution enables IT organizations to maximize performance, increase workload density, and minimize virtualization costs, ultimately spending less on the physical infrastructure, thus dramatically reducing CAPEX and OPEX expenditure.
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-health care 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.
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