VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - iGen Networks Corporation (OTCQB:IGEN) is pleased to announce the signing of a global license agreement for a broad range of Machine-to-Machine (M2M) solutions. The license granted by privately-held GPS Holdings Ltd., which presently supports more than 50,000 commercial trucking and automotive assets, will enable iGen to leverage its existing infrastructure that serves small businesses in more than 40 locations across North America while at the same time rapidly expanding into new vertical markets.
iGen Networks joins the M2M ecosystem, by recognizing and developing solutions that fulfill the demand for near, on-demand ROI. According to the latest report from Infonetics Research, there are 190 million M2M connections today. These connections via cellular and other WAN wireless technologies are projected to nearly triple by 2017, becoming the largest growth engine for operator revenue.
"The securing of this asset enables us to grow our business much more rapidly without many years of software development normally required to enter the M2M markets," says Neil Chan, Chief Executive Officer, iGen Networks. "Through the innovative iGen Cloud Platform, we will be developing and offering solutions that can help make great impact in the M2M space. From tracking vehicles for faster and more efficient fleet management, to vehicle location and auto-recovery of stolen vehicles, M2M solutions through iGen will minimize costs and improve productivity."
About iGen Networks Corporation
iGen Networks Corporation applies capital and proven management experience to accelerate growth of private and secure cloud-based services that serve small to medium size businesses, government agencies, and commercial enterprise.
iGen Networks Corporation is a fully reporting company in both Canada and the United States, where it is publicly traded on the OTC market and quoted on the OTCQB. For more information, please visit www.igen-networks.com.
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