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Feb. 12, 2020, 9:29 a.m. EST

Vuzix Announces Partnership with Cloud-Based AI and Computer Vision Technology Provider TensorMark

Partnership Brings TensorMark's AI and Computer Vision Technology Suite to Vuzix Blade® Smart Glasses

ROCHESTER, N.Y., Feb. 12, 2020 /PRNewswire/ --  Vuzix® Corporation   /zigman2/quotes/205105106/composite VUZI +3.10% , ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced a partnership with US based TensorMark , a cloud-based AI and computer vision technology provider, to integrate their two innovative and game changing solutions on the Vuzix Blade® Smart Glasses.  

(PRNewsfoto/Vuzix Corporation)

TensorMark's AI and computer vision technology is robust and agile with applications developed for multiple verticals including loyalty and retail; corporate and personal security and access control; and banking services and Fintech.  TensorMark has been developing an interface specifically for the Vuzix Blade Smart Glasses that takes advantage of the physical attributes of the device, including the color display and on-board camera, to integrate TensorMark's cloud-based AI and computer vision technology and more specifically facial and object recognition.

With the TensorMark technology and the Vuzix Blade Smart Glasses, customers will be able to ID a limitless number of facial and object images hosted on a cloud database that can be customized and catered specifically for every client.  Security camera output, as well as drone aerial footage, can be analyzed by the TensorMark backend system to provide important information and send alerts directly to the display on the Vuzix Blade, providing real-time digital intelligence to customers. TensorMark is also working on adding the ability to predict behavior patterns using emotion detection to provide clients with even more vital information with its AI algorithm. 

"We are thrilled about our partnership with Vuzix to bring our AI and computer vision technology suite to the Vuzix Blade Smart Glasses," said J.P. Weston, CEO and co-founder of TensorMark.  "The combination of the Vuzix Blade with our facial and object recognition backend will open up very significant business opportunities for both companies across numerous market verticals that include border patrol, first responders, hospitality, retail, and banking."

"The TensorMark solution, working in unison with the Vuzix Blade Smart Glasses and leveraging the ongoing developments in 5G and edge computing, will be a recipe that will disrupt the personal and professional security marketplace," said Paul Travers, CEO and president, Vuzix. "We are excited to partner with TensorMark to address the growing interest in the Vuzix Blade Smart Glasses across the security market.

The companies are collaborating on numerous facial and object recognition POC demos centered around the Vuzix Blade Smart Glasses, including one with a Fortune 50 company that is evaluating the solution for deployment across their customer base, leveraging AI and edge computing to provide enhanced intelligence to security personnel. More information on the solution can be found on TensorMark's website .  

About Vuzix Corporation

Vuzix is a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 150 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2020 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company with offices in Rochester, NY, Oxford, UK, and Tokyo, Japan.  For more information, visit Vuzix  websiteTwitter  and  Facebook  pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the Vuzix Blade Smart Glasses, our relationship with TensorMark and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov ). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations, Vuzix Corporation ed_mcgregor@vuzix.com Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA, Investor Information – IR@vuzix.com www.vuzix.com

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SOURCE Vuzix Corporation

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/zigman2/quotes/205105106/composite
US : U.S.: Nasdaq
$ 1.33
+0.04 +3.10%
Volume: 984,945
April 3, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$44.06 million
Rev. per Employee
$132,695
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