Connected IO secures new orders via US telco giant partnership
In the latest upbeat signal from its foray into the burgeoning “internet of things” market, ASX listed Connected IO has locked in new purchase orders from two of its US telco partner Verizon’s enterprise customers.
The company said on Thursday that the orders from the US State of Nebraska and a US security firm were worth more than $AUD205,000, and supported the Perth-based company’s growing relationship with Verizon.
The order from the State of Nebraska related to placing 4G cameras in government-owned snow ploughs while the security provider, a major player in the US hospitality sector, was seeking further assistance with a services rollout, management said in the update this week.
“The POs received represent customers who have used CIO’s products for an extended period and require additional product for further expansion. CIO is extremely happy to continue to deliver product and enhance these relationships.”
Connected IO’s relationship with Verizon was bolstered recently when the company upgraded its partnership with the US telco, with both organizations now jointly targeting opportunities in growth markets such as robotics and drones.
Connected IO also enjoys a close relationship with US telco giant AT&T via a “machine to machine” communications deal that enables the companies to collaborate on major initiatives and target high-profile customers.
Thursday’s announcement is the latest in the series of bullish signs from Connected IO as it blazes a trail in the multi-trillion dollar internet of things sector by seeking to capitalise on the increasing desire of consumers across the globe to connect their everyday items to the internet via wireless technology.
Connected IO’s customer base already includes US electronics giant Arrow, Coca-Cola, Vodafone, The Red Cross, Cisco, and some US Police Departments.
Connected IO (CIO)
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