OMNIQ Announces Rollout of 1,000 Units of “Smart Buy and Go” (SBG) Solution for a Supermarket Chain; Plans to Soon Offer SBG to its Fortune 500 Customers Operating in an Industry Estimated to be $1.0 Trillion
March 14 2022 - 8:45AM
OMNIQ Corp. (NASDAQ: OMQS) ("OMNIQ" or the "Company"), a provider
of Supply Chain and Artificial Intelligence (AI)-based Machine
Vision solutions, announced the rollout of 1,000 units of the Smart
Buy and Go (SBG) solution for one of Israel's largest supermarket
chains by Dangot Computers Ltd, a subsidiary of OMNIQ. The Company
plans to offer its SBG solution to its customers in the United
States. According to The Wall Street Journal: “In North America,
groceries are a $1 trillion industry, with 90% of grocery sales
taking place in stores.”
Smart Buy and Go solutions are in growing demand by customers
all around the world, and the grocery industry is responding. In
October 2021, TechCrunch reported “Instacart acquired Caper AI, a
smart cart and instant checkout startup, for $350 million, as it
moves deeper into physical retail tech.” According to an article
published in the Washington Post, smart cart solutions may cost
between $5,000 and $10,000 per cart. OMNIQ-Dangot’s SBG solution is
affordable at a fraction of the cost, compared to other smart cart
solutions generating a potential higher and quicker return for
owners.
The usage of an SBG solution enables the store to minimize lines
and provide a better shopping experience. The solution enables
customers to receive a specific terminal on which they scan the
products as they put them in the regular shopping cart. Once
finished with the shopping, the customer places the terminal back
into a cradle and the payment is processed automatically allowing
the customer to exit the store and go straight to their car.
Shai Lustgarten, CEO of OMNIQ: “In line with our AI based
solutions for automation of parking which eliminates lines while
exiting parking lots, our new Smart Buy and Go solution is another
of example of improving quality of life and minimizing friction. We
are proud to market this solution in Israel and soon to offer it to
our Fortune 500 U.S. customers, including some of the largest
supermarket chains in North America.”
About:
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
Koko Kimball(385)-758-9241kkimball@omniq.com
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