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Connected IO signs new agreement in the U.S. with AT&T

Monday, February 27, 2017 19:34
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Connected IO (ASX:CIO) has successfully formalised and strengthened its relationship with AT&T Inc (NYSE:T) under a new machine to machine (M2M) communications agreement.

The agreement enables the companies to collaborate on key initiatives and jointly target customers by bundling Connected IO’s M2M hardware solutions with AT&T’s cellular network services.

Connected IO will resell AT&T and Cisco’s Jasper portal services to interested customers, generating a recurring revenue and tying Connected IO closer to AT&T’s global internet of things (IOT) strategy.

AT&T is considered one of the most trusted and utilised cellular networks for enterprise level M2M solutions in the U.S.

The company connects over 28 million devices to the IOT and adds about 1 million additional connections every fiscal quarter.

Interestingly, Cisco predicts there will be 50 billion connected devices by 2020.

Connected IO will look to leverage AT&T’s thousands of re-sellers to broaden its market reach in this market.

The company’s expanding and successful partnership with Verizon coupled with this new collaborative effort with AT&T puts it in a gainful position.

Connected IO’s shares were last trading 6.67% higher intra-day, at $0.032.

Story by ProactiveInvestors


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