OPCN NEWS---OptiCon Systems, Inc. (OTCBB: OPCN) announced today that the Company has signed an Exclusive Agency Agreement with Mfumo Networking Solutions of South Africa to represent OptiCon Systems in South Africa by providing the Company's customers with data services, relative to the installation of the OptiCon Fiber Management Software, including mapping and monitoring the customers' network systems, and providing all other professional services relating to the use of the Company's software. As part of the Agreement, Mfumo Networking is committed to making a substantial investment in the infrastructure, including facilities, equipment, personnel, and marketing, to build the largest network operating centers in the African Continent for OptiCon. The term of the contract is for 24 months, renewable for additional 12-month periods. The estimated revenue projected from this contract throughout its initial term should add $8M-$12M to our gross revenue.
The national government, major cities and municipalities are committed to expanding fiber optic coverage to office buildings, schools and outlying areas, and continue to award major contracts for the installation of fiber optic lines throughout the country. The first installation of the Company's software will be done for the Ekurhuleni municipality, the largest in South Africa, and thought to be the only municipality in the world that owns its own fiber optic network. The local municipalities and national government are committed to fiber optic connectivity throughout the country.
"This Agreement with Mfumo will provide OptiCon a physical presence and a major competitive advantage in South Africa with a great opportunity to deploy our Fiber Optic Management System to all government agencies at a time when the government is deploying nationwide fiber optic systems, and are in dire need to maintain critical networks up and running with as little interruption as possible; OptiCon provides the solution to their needs. Mfumo's expertise and knowledge in the South Africa Telecomm market and business relationships built over the years provide OptiCon a platform for expansion not only in South Africa but to the surrounding countries in southern Africa. Through this agreement, South Africa will have the most cutting-edge fiber optic network management system and Network Operating Center to manage those networks in the market today," stated Sam Talari, Chairman of OptiCon Systems, Inc.
About OptiCon Systems
OptiCon Systems, Inc. provides Wireline, Wireless and fiber optics network management solutions offering proprietary state-of-the-art software, professional services and integrated systems. OptiCon Systems have been in use by companies seeking the best solution in managing their networks for the past 10 years. The company's software solutions automate all aspects of the physical and logical layer management, fault detection and delivery of information. The scalability of the software systems permits the Company to target large communications and telecom companies servicing millions of global customers to medium-sized companies managing a single facility. Besides OptiCon Network Manager (ONMS), the company will soon offer PowerCon Energy Systems (PES) that is designed to manage large power networks and facilities for power and alternative energy companies globally. The PES/ONMS isolates (power/fiber) cable cuts, breaks, and faults, and service degradation and other power and optical events to within plus or minus five feet of the event, and produces a global positioning system location for the outage to an approximate five foot section of cable.
For more information, please visit www.opticonsystemsinc.com.
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
Media Contact:
OptiCon Systems, Inc.
investors@opticonsystemsinc.com
SOURCE: OptiCon Systems, Inc.
mailto:investors@opticonsystemsinc.com
