RiT Technologies Engages Ofer Bengal as Strategic Consultant
September 01 2009 - 7:00AM
PR Newswire (US)
TEL AVIV, Israel, September 1 /PRNewswire-FirstCall/ -- RiT
Technologies (NASDAQ:RITT), today announced that it has engaged Mr.
Ofer Bengal, RiT's Founder and first CEO, to lead a new initiative
involving its Product and R&D Strategies. Under the terms of
the new engagement, Mr. Bengal will serve as a strategic consultant
to help RiT's Management Team fine-tune its long-term strategies
for expanding addressable markets and extending RiT's product
portfolio. Mr. Bengal will support the Company's efforts to
minimize the time-to-market of a number of new products and will
help RiT penetrate new markets. Mr. Bengal is a serial entrepreneur
and manager for the past 25 years. He served as RiT's CEO from
1990-2000, after which he founded and managed several companies in
the mobile telecom, communications, medical equipment and
homeland-security sectors. Commenting on the news, Mr. Avi
Kovarsky, RiT's President & CEO, said, "We are delighted that
Ofer has accepted this challenge. We are confident that the unique
combination of experience and knowledge that he brings - his deep
understanding of our target markets and management experience, his
industry contacts and understanding of our Company - will help us
achieve our ambitious goals and succeed with out new product lines,
which we believe will position RiT as a strong player in several
high-potential markets." Mr. Bengal added, "I am pleased to have
the opportunity to help the Company's talented R&D and Product
Strategy teams as they move forward in exciting new directions."
About RiT Technologies RiT is a leading provider of intelligent
solutions for infrastructure management, asset management,
environment and security, and network utilization. RiT Enterprise
solutions address datacenters, communication rooms and workspace
environments, ensuring maximum utilization, reliability, decreased
downtime, physical security, automated deployment, asset tracking,
and troubleshooting. RiT Environment and Security solutions enable
companies to effectively control their datacenters, communications
rooms and remote physical sites and facilities in real-time,
comprehensively and accurately. RiT Carrier solutions provide
carriers with the full array of network mapping, testing and
bandwidth qualification capabilities needed for access network
installation and service provisioning. RiT's field-tested solutions
are delivering value in thousands of installations for top-tier
enterprises and operators throughout the world. For more
information, please visit our website: http://www.rittech.com/ Safe
Harbor Statement In this press release, all statements that are not
purely about historical facts, including, but not limited to, those
in which we use the words "believe," "anticipate," "expect,"
"plan," "intend," "estimate", "forecast", "target", "could" and
similar expressions, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
For example, when we discuss a field trial which could lead to a
multi-million dollar Carrier deal, we are using a forward looking
statement. While these forward-looking statements represent our
current judgment of what may happen in the future, actual results
may differ materially from the results expressed or implied by
these statements due to numerous important factors, including, but
not limited to, those described under the heading "Risk Factors" in
our most recent Annual Report filed with the Securities and
Exchange Commission (SEC) on Form 20-F, which may be revised or
supplemented in subsequent reports filed with the SEC. These
factors include, but are not limited to, the following: our ability
to raise additional financing, if required; the continued
development of market trends in directions that benefit our sales;
our ability to maintain and grow our revenues; our dependence upon
independent distributors, representatives and strategic partners;
our ability to develop new products and enhance our existing
products; the availability of third-party components used in our
products; the economic condition of our customers; the impact of
government regulation; and the economic and political situation in
Israel. We are under no obligation, and expressly disclaim any
obligation, to update the forward-looking statements in this press
release, whether as a result of new information, future events or
otherwise. Company contact:: Simona Green VP Finance
+972-3-766-4249 DATASOURCE: RiT Technologies Ltd CONTACT: Company
contact: Simona Green, VP Finance, +972-3-766-4249,
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