HILLSIDE, N.J., Oct. 18 /PRNewswire/ -- Glowpoint, Inc. (OTCQX,OTC Bulletin Board : GLOW ) a global provider of managed services, including cloud based hosted infrastructure for telepresence and video conferencing, today announced positive growth trends highlighted by a major new enterprise contract award.
In a multi-year contract, Glowpoint will be supporting the global video collaboration environment of one of the world's largest consumer products companies. The agreement has an initial value in excess of $2 million over 3 years and represents one of the largest managed service engagements in Glowpoint's history. The managed service will include the support of standard and high definition video communications technology, as well as the associated infrastructure (MCU's, gatekeepers and gateways), totaling nearly 200 managed devices, and the client plans to grow its video environment further to include immersive telepresence throughout 2011 and 2012.
Glowpoint's President and CEO, Joe Laezza said, "Industry analysts have projected that the demand for managed video services would see rapid increases from 2010 to 2013, and we are seeing our trends in sales and service usage support this. In Q3, we were awarded new monthly recurring managed service business worth in excess of $2.4 million on an annualized basis, and saw a sequential increase of nearly 20% in volumes associated with conference production and video system certifications over the previous quarter. Entering this high-growth phase of a rapidly growing market, with its expanding ecosystem, provides Glowpoint with a strong foundation into the upcoming year and beyond."
Glowpoint's Senior Vice President of Product Development, Anil Balani said, "We expect the increased demand from large enterprise for managed services and cloud based, hosted infrastructure to continue with expansion into the SMB market over the next year. Glowpoint will continue to design and deliver solutions that bring cost-effective, automated video management capabilities into the hands of all types of users, from large global enterprises to small- and medium-sized businesses."
The company expects to release further details on the referenced contract as the customer's video environment is fully activated over the next few months.
Glowpoint, Inc. (OTCQX,OTC Bulletin Board : GLOW ) enables video users to effortlessly and securely call one another regardless of their video technology or network. With unlimited, "open" access to Glowpoint's cloud-based, hosted-video infrastructure and services, video calling within – and between – companies is dramatically simplified. From full-featured telepresence and video conferencing suites to desktop video, Glowpoint supports customers around the world with 24/7 managed services that allow business professionals to enjoy "in-the-same-room" intimacy and cost savings. To see a video-in-the-cloud demonstration, and to learn more about how cost-effective and easy telepresence and video conferencing can be for your business, email us at email@example.com or visit http://www.glowpoint.com.
SOURCE Glowpoint, Inc.