EYEfi Expands Services to Telstra Corporation, Australia's Largest Telco with 41% Sales Growth this Year

TORONTO, ON / ACCESSWIRE / October 6, 2022 / EYEfi Group Technologies Inc. (CSE:EGTI)(OTC PINK:EGTTF) ("EYEfi") is pleased to report on the expansion of EYEfi Cloud for our distributor, Telstra Corporation Limited (TLS) and sales revenue growth of 41% for this customer year-to-date on the prior 12 months.

EYEfi has been continually expanding the services delivered through the Telstra contract over the past 12 months, primarily relating to its end customers, the Victorian Government Department of Transport (DoT) and VicRoads. EYEfi's product is currently installed across the entire fleet of Incident Management Vehicles (IMV's) at VicRoads and provides improved incident management, compliance, reporting and safety of field personnel.

EYEfi Cloud's Automated Incident Management (AIM) technology is used to process more than 3000 incidents per month for the department throughout Victoria's road network, where it provides real-time incident visibility, GPS tracking of vehicles, automation of incident workflow processes, and a system of record for all incidents being attended to by incident management personnel.

EYEfi continues to experience growth due to the increase in the number of incident management vehicles from 10 to 18, and cameras from 20 to 36 all connected to the EYEfi Cloud platform, whilst providing enhanced API functionality (providing all incident data, location, video and fully automated) so that DoT can acquire the data and information required to better manage Victoria's road network and to share this data across business and traffic management operations.

Some of the key features and benefits provided by EYEfi Cloud's AIM platform include:

The EYEfi Cloud platform is a subscription-based offering hosted within AWS and available through EYEfi's growing distributor network across Australia and New Zealand, and EYEfi are currently in discussions with prospective partners to expand this offering into other major regions around the world.

More information about EYEfi can be found here

About EYEfi in detail:

EYEfi is connecting the world's people and devices with the world around them, in real-time and in ways not previously possible.

EYEfi is a software and electronics engineering company that has developed, patented and commercialized an innovative spatial technology; spatial, predictive, approximation and radial convolution (SPARC) and an associated product suite, that turns sensors, cameras and smartphones (fixed, mobile, airborne, portable or handheld) into geo-target co-ordinate acquisition devices.

EYEfi has also developed IIoT sensor hardware and associated cloud software, as a second pillar within its product offering. EYEfi Cloud is a next generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.

On behalf of the board of directors of

EYEFI GROUP TECHNOLOGIES INC.

"Simon Langdon"

Simon Langdon, CEO

For more information contact:

Simon Langdon Chief Executive Officer EYEfi Group Technologies Inc. Email: info@eyefi.com.au

Mark van der Horst Investor Relations EYEfi Group Technologies Inc. Telephone: +1 (604) 760 7604 Email: mark@galecapital.com

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. NO SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

FORWARD LOOKING INFORMATION

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.

The forward-looking statements are based on the reasonable assumptions, estimates, opinions and analyses of management made in light of its experience and perception of historical trends in the delivery of services through its Cloud, current conditions, expected future developments and other factors management of EYEfi believes are appropriate, relevant and reasonable in the circumstances at the date that such statements are made. All of these assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances outside the control of EYEfi, including the effect of the Covid 19 virus. EYEfi has based the forward looking information on various material assumptions, including: despite the threat of the Covid 19 virus, EYEfi will sustain or increase profitability although on a slower projection then previously planned, and will be able to fund its operations with existing capital and projected revenue from its current agreements with its Channel Partners; EYEfi will be able to attract and retain key personnel in future if required; the general business, economic, financial market, regulatory and political conditions in which EYEfi operates will remain positive as its services can be provided in EYEfi's Cloud although deliver of its hardware may be affect by supply chain disruptions; that the general regulatory environment will not change in a manner adverse to the business of EYEfi; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not become subject to any material legal proceedings; the economy generally; competition, and anticipated and unanticipated costs.

Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.

The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Canadian Securities Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

SOURCE: EYEfi Group Technologies Inc. View source version on accesswire.com: https://www.accesswire.com/719276/EYEfi-Expands-Services-to-Telstra-Corporation-Australias-Largest-Telco-with-41-Sales-Growth-this-Year