RiT Technologies wins investment bank contract

Source: RiT Technologies

RiT Technologies (Nasdaq: RITT), the pioneer and world-leading provider of intelligent physical layer solutions, today announced that one of the world's largest diversified financial services companies, has chosen RiT's Intelligent Physical Layer Management Solution (IPLMS) to help it maximize the performance and reduce the cost-of-ownership of its mission-critical networks.

The investment bank has more than 70 offices worldwide, including major centers in the U.S., U.K. and Japan.

For its first IPLMS deployment, the bank has recently awarded Panduit Corp., one of RiT's strategic OEM partners, with a contract to install 35,000 managed ports in its new London headquarters. For the management function, Panduit will use RiT's PatchView(TM) IPLMS sold under the Panduit PanView(TM) brand name.

"Physical layer management is a necessity for businesses like ours - businesses with complex, mission-critical networks and no tolerance for downtime," said the bank's VP of Infrastructure. "We chose the RiT/Panduit for a number of reasons: the technological superiority of the product, including its remote management capability and the fact that it requires no pre- deployment integration; the existence of an enormous and satisfied PatchView(TM) installed base; and, last, but not least, Panduit's impressive track-record with large-scale projects. Our evaluation shows that the system will pay for itself quickly by reducing network downtime and maintenance expenses, and by improving our ability to track and control network assets. In addition, we believe the system will significantly enhance the physical security of the cabling infrastructure."

"The combination of RiT's state-of-the-art IPLMS technology with our end- to-end infrastructure products, solutions, marketing reach and experience provides the confidence necessary to earn the customer's preference. We are proud that our joint solution was chosen by one of the world's most prestigious banks, and look forward to carrying out this vast project," said Andrew Caveney, VP Global Business Development for Panduit.

Liam Galin, RiT's President and CEO, added, "The fact that this blue-chip customer is moving to managed physical layer connectivity in its mission- critical networks shows the increasing mainstream acceptance of the IPLMS concept. Further, its standardization on our technology is a gratifying validation of our products, track record, support capability and partners. We are working to leverage all these positives into increased Enterprise sales in the years ahead."

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