VerifyMe Signs Exclusive Sales Agreement with Syntax For China
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Beijing-based Syntax is HP Indigo’s Sole Channel Partner in China
ROCHESTER, N.Y., March 09, 2021 (GLOBE NEWSWIRE) -- VerifyMe, Inc. (NASDAQ: VRME) (“VerifyMe,” “we,” “our,” or the “Company”), a provider of comprehensive brand protection and customer engagement solutions that combine ultra-secure product authentication, track and trace, and customized engagement strategies with industry-leading online retail monitoring capabilities, is pleased to announce it has signed a sales agency agreement with Syntax Technology Ltd. (Syntax), HP Indigo’s sole authorized channel partner for China.
Syntax is the only distributor authorized to sell and support HP Indigo products in China, and now has an exclusive agreement to sell VerifyMe technology solutions for HP Indigo products in China. VerifyMe also granted Syntax a non-exclusive right to sell its other products in China.
With over 600 installations, Syntax is the largest global distributor of HP Indigo presses, and is one of the first companies to bring digital printing technology to China. Founded in 1999, Syntax became the chief distributor for HP Indigo presses in 2002 and continues to provide the Chinese market with high-end digital printing solutions. The company has branch offices in Shanghai, Guangzhou, Chengdu, Wuhan, Shenzhen, and Hong Kong, and provides its customers with sales, service, technical support, supplies, and training.
For a complete global list of HP Indigo authorized channel partners, please click:
Syntax Technology Ltd. President Jonathan Liu stated, “This distribution agreement will allow Syntax to further support our growing customer base across China and its rapid developing digital printing market. The China label and packaging industry needs VerifyMe’s world-class counterfeiting prevention and supply chain technology.”
Patrick White, VerifyMe’s President and Chief Executive Officer, commented, “Signing Syntax as our China technology distribution channel is a huge win for our shareholders. Syntax has an impeccable reputation as the premier provider of HP Indigo solutions for the China label and packaging manufacturing industry. Syntax’s resources and customer support infrastructure is unparalleled. This relationship with Syntax enables VerifyMe to expand its global footprint in one of the largest economies in the world.”
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), is a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products. VerifyMe’s physical technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track and trace software known as VeriPAS™ that allows both consumers and brand inspectors to verify authenticity with their smartphones. VeriPAS™ is a serialization software system that brand owners access through a web portal to monitor, control and protect their products complete life cycle. To learn more, visit www.verifyme.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements regarding revenue opportunities, the use of our products in additional devices and locations, and roll-out of our products and authentication devices in new markets and regions. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include the impact of the COVID-19 pandemic, intellectual property litigation, the successful development of our sales and marketing capabilities, our ability to retain key management personnel, our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies and the efficiency of our authenticators in the field. Further information on our risk factors is contained in our filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2019 and the Quarterly Report on Form 10-Q for the three months ended September 30, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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