ViryaNet Expands Customer Base with Multiple Orders for its Mobile Workforce Management Solution


ViryaNet Expands Customer Base with Multiple Orders for its Mobile Workforce Management Solution

$1.2 Million in New Bookings Validate Strategy and Growth Expectations

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- ViryaNet Limited (OTC QB:VRYAF), a leading provider of software solutions that optimize and allow for the continuous improvement of service processes for mobile workforces, announced today that it has received multiple orders since the beginning of the third quarter. These orders from existing and new customers include licenses and services for ViryaNet's flagship product line, ViryaNet G4, as well as for the Performance Management practice offering, which is an area of the business that management sees particular demand strength.

"Today's announcement follows our August 15th announcement in which we indicated that certain deals that we expected to close in the second quarter shifted to the third quarter," commented Memy Ish-Shalom, President and Chief Executive Officer of ViryaNet. "These wins collectively represent approximately $1.2 million of additional bookings and provide us with a strong start to the second half of the year."

Mr. Ish-Shalom continued, "Mobile workforce management is continuing to emerge as a key service delivery enabler and as a marketplace differentiator. As a result, we are seeing increased demand for our solutions. Our new strategic direction, which emphasizes a business-value focused approach and leverages new opportunities driven by the mobile revolution, is rapidly driving customer acceptance and contributing to robust growth in our deal pipeline."

"Service organizations recognize that without the visibility into performance data as the basis to conduct in-depth analysis or the tools to drive change, they find it difficult to apply corrective actions to unmet business goals or to continuously improve. Integrating a Performance Management practice and an innovative product further advances their ability to achieve business goals and realize ongoing business improvements. This approach is unique in the industry. Our new strategic direction aligns with the capabilities and demands of our customers, and is being embraced by organizations worldwide."

About ViryaNet

ViryaNet delivers mobile workforce management solutions that intelligently guide, automate, and optimize both simple and complex field service work, resulting in measurable business benefits. ViryaNet's products, pre-packaged solutions and people are recognized within the industry as innovative which in turn enables its customers to be viewed as leaders within their respective industries. ViryaNet's G4 products specialize in the functions of scheduling and dispatching resources and enabling mobile field communication and are delivered in industry specific configurations. Embedding industry best practices and utilizing innovative technologies like ViryaNet's BPM Blueprint for Mobile Workforce Management™, Microsoft InfoPath® and device agnostic mobile solutions enable ViryaNet's products to be rapidly deployed and extended to support virtually any business process across a wide range of industries. ViryaNet is proud to call many of the world's leading utilities, the United States' largest pure rural telecommunications firm, the supermarkets' most respected retailer, and North America's largest auto insurer as customers. ViryaNet has strong partnerships with leading platform and system integration companies that enable it to have a global presence. Headquartered in Westborough, MA, ViryaNet has additional offices in the United States and Israel. For more information visit our website or follow us on twitter.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding ViryaNet's expectations, beliefs, intentions, or strategies regarding the capabilities of its products, its relationships with its customers, its customer purchases, its future operational plans and objectives including integration of other businesses, its future business prospects, its future financial performance, its future cash position, and its future prospects for profitability. All forward-looking statements included in this document are based upon information available to ViryaNet as of the date hereof, and ViryaNet assumes no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those projected. These and other risks relating to ViryaNet's business include market acceptance of and demand for ViryaNet's products, risks associated with a slow-down in the economy, risks associated with the financial condition of ViryaNet's customers, risks associated with competition and competitive pricing pressures, risks associated with increases in costs and operating expenses, risks in technology development and commercialization, the risk of operating losses, risks in product development, risks associated with international sales, and other risks that are set forth in ViryaNet's annual report on Form 20-F, filed on April 29, 2013, and the other reports filed by ViryaNet from time to time, with the Securities and Exchange Commission. Reported results should not be considered an indication of future performance. You should not place undue reliance on these forward-looking statements, which speak only as the date hereof. ViryaNet disclaims any obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

ViryaNet, Ltd
Dolores Fallon, 508-490-8600, ext 5917
Investor Contact:
Hayden IR
Peter Seltzberg, 646-415-8972

KEYWORDS: United States North America Massachusetts


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