Connected IO locks down another US client for “internet of things” devices
ASX listed Connected IO has bolstered its customer base by securing a $100,000 purchase order for its wireless “internet of things’ devices from US wireless distributor, California Network Management.
In an update to the market on Tuesday, Connected IO said California Network Management, one of US telco giant AT&T’s largest wireless distributors, had placed the purchase order whith the Perth-based company.
Management said the order represented a milestone as the company expands into the US market.
Connected IO said it was confident that the new purchase order represented a “significant step” in expanding its existing relationship with AT&T and its clients, after a relationship with the massive US telco was struck earlier this year.
"CNM are a significant US based company and via their AT&T relationship will potentially provide CIO access to many hundreds of thousands of devices requiring wireless communication solutions.”
CIO is currently forging ahead with its push into the multi-trillion-dollar internet of things sector, a term that describes the commercial opportunities derived from the growing desire of millions of people worldwide to connect everyday things to the internet via wireless technology.
In addition to its machine-to-machine connectivity devices, Connected IO also has a software solution that includes a customised cloud management interface and a variety of support services.
The latest order represents positive news for Connected IO on the customer front after earlier this month securing a US$207,000 purchase order for its wireless communications solutions from a US based cyber security firm.
Connected IO already boasts an impressive array of clients for a relatively small company.
They include Coca-Cola, US telcos Verizon and AT&T, Vodafone, The Red Cross, Cisco, and some US police departments.
The California Network Management order will also help to buoy already robust revenues at the company, which was back-door listed by Perth connections last year.
Connected IO posted a stellar 126 per cent lift in revenues during the December quarter and management is confident of further significant increases in 2017.
Connected IO (CIO)
Closing price for the last 90 trading days
Powered by Morningstar ®