ARCHOS SA Note to the reader: This English language version is a free translation from the original press release which is in French and is available on the company's corporate website (archos.com). In the event of inconsistencies between the original French language version and this English translation, the French version will take precedence.
ARCHOS and the European Investment Bank (EIB) announce that they signed today a financing agreement for a maximum amount of 12 million euros. The signing of this agreement took place in the presence of Manuel Valls, French Prime Minister, Ambrose Fayolle, Vice-President of the EIB in charge of innovation, and Loic Poirier, CEO of ARCHOS.
This key funding has been granted to ARCHOS for new developments in the field of the Internet of Things, including the long-range PicoWAN network that aims to provide a collaborative and affordable solution for connected objects.
"ARCHOS started its activity in the field of connected objects more than two years ago and the convergence with electronic products such as tablets and smartphones make it a natural evolution of our strategy. The EIB loan will give us additional crucial means to carry out innovative projects" says Loic Poirier, the CEO of ARCHOS. "I am more than pleased that this authoritative financial institution has such confidence in ARCHOS. It is a true recognition of our team's skills and its technological achievements. "
ARCHOS, a pioneer in the portable audio and video player market, and now specializing in Android Tablets and Smartphones, has repeatedly revolutionized the market for consumer electronics since 1988. Today, ARCHOS offers its own line of Android Tablets and Smartphones, as well as a full line of OEM devices. In 2000, ARCHOS launched the Jukebox 6000, the first MP3 player combined with a hard disk. In 2008, ARCHOS launched the first generation Internet Tablets, and then the first ever Android powered tablets in 2009. In 2013, ARCHOS launched its first generation of Smartphones with the ARCHOS Platinum series. ARCHOS has offices in Europe and Asia. ARCHOS is quoted on Compartment C of Eurolist, Euronext Paris, ISIN Code FR0000182479. Website: www.archos.com
ARCHOS
Loïc Poirier CEO
email :poirier@archos.com
phone number :+ 33 1 69 33 16 90
Archos SA issued this content on 11 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 April 2016 09:56:13 UTC
Original Document: http://www.archos.com/corporate/investors/financial_doc/ARCHOS_BEI_ENG_final.pdf
