OMNIQ Corp. (NASDAQ: OMQS) ("OMNIQ" or the "Company"), a provider
of Supply Chain and Artificial Intelligence (AI)-based Machine
Vision solutions, has closed on its previously announced notice to
acquire an additional 26% of Dangot Computers Ltd. (“Dangot”)
increasing OMNIQ’s ownership to 77%, effective from October 1st,
2021. The Company has paid $4,035,000 from its working capital and
a straight loan from an Israeli commercial bank.
Dangot is a profitable prominent player in the field of
automation and frictionless equipment. Its systems have gained an
excellent reputation and significant market share in the demanding
Israeli market, offering worldwide innovations to multiple
verticals like healthcare, retail, restaurants and warehouse
automation.
Based on the five months of working together, management of
OMNIQ strongly believes that Dangot’s innovative product offerings
fit OMNIQ’s target markets, and as such will be leveraged by its
strong sales team in the US market. At the same time, OMNIQ
believes it can accelerate merging its AI products into the supply
chain customers served by both companies.
About OMNIQ Corp.
OMNIQ Corp. provides computerized and machine vision image
processing solutions that use patented and proprietary AI
technology to deliver data collection, real-time surveillance and
monitoring for supply chain management, homeland security, public
safety, traffic & parking management, and access control
applications. The technology and services provided by the Company
help clients move people, assets, and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.
OMNIQ’s customers include government agencies and leading
Fortune 500 companies from several sectors, including
manufacturing, retail, distribution, food and beverage,
transportation and logistics, healthcare, and oil, gas, and
chemicals. Since 2014, annual revenues have grown to more than $50
million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets,
including the Global Safe City market, forecast to grow to $29
billion by 2022, and the Ticketless Safe Parking market, forecast
to grow to $5.2 billion by 2023. For more information, visit
www.omniq.com.
Information about Forward-Looking
Statements
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995. Statements in this press release relating to
plans, strategies, economic performance and trends, projections of
results of specific activities or investments, and other statements
that are not descriptions of historical facts may be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934.
This release contains “forward-looking statements” that include
information relating to future events and future financial and
operating performance. The words “anticipate”, “may,” “would,”
“will,” “expect,” “estimate,” “can,” “believe,” “potential” and
similar expressions and variations thereof are intended to identify
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results, and will
not necessarily be accurate indications of the times at, or by,
which that performance or those results will be achieved.
Forward-looking statements are based on information available at
the time they are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Examples of forward-looking statements
include, among others, statements made in this press release
regarding the closing of the private placement and the use of
proceeds received in the private placement. Important factors that
could cause these differences include, but are not limited to:
fluctuations in demand for the Company’s products particularly
during the current health crisis, the introduction of new products,
the Company’s ability to maintain customer and strategic business
relationships, the impact of competitive products and pricing,
growth in targeted markets, the adequacy of the Company’s liquidity
and financial strength to support its growth, the Company’s ability
to manage credit and debt structures from vendors, debt holders and
secured lenders, the Company’s ability to successfully integrate
its acquisitions, and other information that may be detailed from
time-to-time in OMNIQ Corp.’s filings with the United States
Securities and Exchange Commission. Examples of such forward
looking statements in this release include, among others,
statements regarding revenue growth, driving sales, operational and
financial initiatives, cost reduction and profitability, and
simplification of operations. For a more detailed description of
the risk factors and uncertainties affecting OMNIQ Corp., please
refer to the Company’s recent Securities and Exchange Commission
filings, which are available at https://www.sec.gov. OMNIQ Corp.
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, unless otherwise required by law.
Investor Contact:James CarbonaraHayden
IR(646)-755-7412james@haydenir.com
Brett MaasHayden IR(646)-536-7331brett@haydenir.com
About OMNIQ Corp.
omniQ Corp. (NASDAQ: OMQS) provides computerized and machine
vision image processing solutions that use patented and proprietary
AI technology to deliver data collection, real-time surveillance
and monitoring for supply chain management, homeland security,
public safety, traffic & parking management, and access control
applications. The technology and services provided by the Company
help clients move people, assets, and data safely and securely
through airports, warehouses, schools, national borders, and many
other applications and environments.
omniQ's customers include government agencies and leading
Fortune 500 companies from several sectors, including
manufacturing, retail, distribution, food and beverage,
transportation and logistics, healthcare, and oil, gas, and
chemicals. Since 2014, annual revenues have grown to more than $50
million from clients in the USA and abroad.
omniQ recently announced the closing of its acquisition of 51%
of the capital stock of Dangot. omniQ has an option to purchase the
remaining 49% of the capital stock. Dangot is an Israeli based
leader in providing innovative technologies including: frictionless
automated order processing & digital payment processing
products for the retail, fast food and parking markets; integrated
work stations for physicians, drug delivery and blood tests;
robotics for smart warehouses; point of sales, self-check in
management, and other state of the art solutions.
The Company currently addresses several billion-dollar markets,
including the Global Safe City market, forecast to grow to $29
billion by 2022, and the Ticketless Safe Parking market, forecast
to grow to $5.2 billion by 2023. For more information,
visit www.omniq.com.
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