Oblong Secures Largest Initial Mezzanine Order in Company History
Mezzanine to be deployed across 16 cities in 10 countries
LOS ANGELES--(BUSINESS WIRE)-- Oblong Industries, Inc. (OBLG: NYSE American), the award-winning maker of multi-stream content collaboration software, announced today that Mezzanine has been selected by a multinational branded consumer products company to transform the way their teams collaborate internally, and externally with customers, as they return to the workplace during and beyond the current COVID crisis.
Mezzanine enables the team members of this S&P 500 company to interact with multiple streams of digital content simultaneously in their Cisco WebEx meetings, transforming meetings into highly productive and inspiring experiences. The end result is better, faster decision making.
Teams in North America, South America, Europe and Asia across ten countries and sixteen cities can all collaborate seamlessly with digital content distributed and accessible in a physical conference room, virtual room and at your home, synchronized thousands of miles apart. This allows all participants to see and engage with simultaneous data streams of critical information that creating faster, and more comprehensive business outcomes.
“Oblong is proud to support this new global customer, in partnership with Cisco, as it deploys next generation collaboration solutions focused on deeper interactions and engagement for team members,” said Peter Holst, Chairman and CEO of Oblong. “Mezzanine’s unique technology supports both remote and in-room meeting participants, creating higher degrees of user engagement through more meaningful content interaction.”
“Our sales pipeline continues to expand, both in terms of quality and quantity, and we believe there is a significant backlog of interest in our Mezzanine solution,” added Holst. “As previously disclosed, our aggregate qualified pipeline has increased approximately 50% since mid-April. The announcement today, which is the largest initial Mezzanine order to date, is an early example of this qualified backlog evolving into new business and we continue to be optimistic regarding future opportunities.”
About Oblong, Inc.
Oblong’s innovative and patented technologies change the way people work, create, and communicate. Oblong's flagship product Mezzanine™ is a remote meeting technology platform that offers simultaneous content sharing to achieve situational awareness for both in-room and remote collaborators. Oblong supplies Mezzanine systems to Fortune 500 enterprise customers and is a Cisco Solutions Plus integration partner. Learn more at www.oblong.com
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Forward looking and cautionary statements
This press release and any oral statements made regarding the subject of this release contain forward-looking statements as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities that Oblong assumes, plans, expects, believes, intends, projects, estimates or anticipates (and other similar expressions) will, should or may occur in the future are forward-looking statements. Oblong’s actual results may differ materially from its expectations, estimates and projections, and consequently you should not rely on these forward-looking statements as predictions of future events. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements relating to (i) the Company’s potential future growth and financial performance and (ii) the success of its products and services. The forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. A list and description of these and other risk factors can be found in the Company’s Annual Report on Form 10-K for the year ending December 31, 2019 and in other filings made by the Company with the SEC from time to time, including the Company’s Quarterly Report on Form 10-Q for the three and six months ended June 30, 2020, filed with the SEC on August 14, 2020 (the “Quarterly Report”). Any of these factors could cause Oblong’s actual results and plans to differ materially from those in the forward-looking statements. Therefore, the Company can give no assurance that its future results will be as estimated. The Company does not intend to, and disclaims any obligation to, correct, update or revise any information contained herein. The Company’s consolidated financial results for the second quarter of 2019 do not reflect the financial results of its wholly-owned subsidiary, Oblong Industries, Inc., as the Company’s acquisition of Oblong Industries closed on October 1, 2019. Please see “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations--Oblong’s Results of Operations” in the Quarterly Report for more information regarding the comparison of the Company’s financial results between periods.
Hayden IR, LLC
Source: Oblong Industries, Inc.