OSLO, Norway and BOKEELIA, Fla. , July 22 /PRNewswire-FirstCall/ -- Nio(R) Security Inc. (OSE: NIO) - the leading provider of intelligent video security camera and DVR solutions for civilian security applications - today announced it has signed a strategic agreement and alliance with Lenco Software AS ( Oslo, Norway ) - a respected developer of military GIS and 3D visualization software with additional NBC (Nuclear, Biological, Chemical) detection products.
The agreement gives Nio access to one of the most advanced 3D visualization and navigation software solutions available for maps and satellite images. Also covered in the agreement is Lenco's sophisticated alarm- and event management system that has already been adopted by several NATO countries as part of their national defence solution. Lenco software will become the foundation of Nio's new civilian control room solutions that fully leverage the company's auto-tracking EyeMax(R) video cameras and Tempest(R) networked digital video recording devices.
Under this agreement, Lenco will sell Nio's advanced video surveillance products to the defence sector, while Nio will have the exclusive right to sell OEM versions of Lenco's CODS 3D visualization software that have been adapted to the civilian market. The civilian software will be sold under Nio's brand through its worldwide certified dealer network.
Under the agreement, Lenco will continue to focus on the defence sector and sell Nio's advanced video surveillance products in addition to its CODS multi-sensor command and control products.
"This major agreement will further strengthen Nio's worldwide position as an innovator and market leader, while also enabling new software sales opportunities for the company which fully leverage Nio's existing portfolio of video surveillance technologies," said Paul Fevang , CEO of Nio Security, Inc. "By combining Lenco's strong defence presence with Nio's advanced video surveillance products and global distribution network, we can help drive significant growth for both businesses. Based on our expectations of success, the two companies will evaluate even closer forms of cooperation in the future."
Nio Security, Inc. is a leading developer of intelligent video surveillance solutions for physical security applications. Nio's unique and patented video surveillance technology provides 'Watchful Intelligence' to a worldwide customer base ranging from Fortune 500(R) companies and governments to small businesses. Traded on the Oslo Stock Exchange as (OSE: NIO), the company was founded in 1992 and is headquartered in Florida with engineering and development facilities in Munich, Germany , and San Diego, CA. Nio markets its products through a worldwide network of certified dealers, distributors, system integrators, and OEM's. Further details are available at www.niosec.com .
Notice on Forward-Looking Statements:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Nio or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe Nio's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
The forward-looking statements included in this release are made only as of the date of this release and Nio undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.