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- Flexiroam signs an agreement to provide Internet of Things (IoT) connectivity to Lutikey, a US-based company that manufactures LutiBand smartwatches for seniors
- The agreement is for three years initially, with a minimum annual volume commitment of $135,000, which will increase as the number of devices and data consumption increases
- Under the agreement, Flexiroam will provide IoT connectivity to a minimum of 10,000 LutiBand smartwatches, with the company’s SIM cards to be embedded by LutiBand
- FRX shares were unchanged at 4.2 cents in early trade
Flexiroam (FRX) has signed an agreement to provide Internet of Things (IoT) connectivity to Lutikey, a US-based company that manufactures LutiBand smartwatches for seniors.
The agreement is for three years initially, with an minimum annual volume commitment of $135,000, which will increase as the number of devices and data consumption increases.
Under the agreement, Flexiroam will provide IoT connectivity to a minimum of 10,000 LutiBand smartwatches, with the company’s SIM cards to be embedded by LutiBand.
Flexiroam CEO and Executive Director Marc Barnett said the agreement is an important milestone, as it marks the company’s entry to the wearable device market.
“The demand for our innovative IoT offerings continues to accelerate, with companies requiring cost effective connectivity with guaranteed coverage, as they rapidly expand in new markets,” he said.
LutiBand Chief Executive Officer Gustavo Rubacha said: “Our technology allows seniors and people with pre-existing conditions to be protected all the time, providing geo-location, biometrics sensors and interconnection with the emergency services when they need help during emergencies and Flexiroam’s 520 global operators will provide the guaranteed connectivity we require.”
Mr Barnett said the company is “well placed to take advantage of strong long-term opportunities to scale our Flexiroam Solutions business, underpinned by increased IoT adoption across multiple verticals”.
FRX shares were unchanged at 4.2 cents at 10.07 am AEST.
