SOURCE: Internet of Things Inc.

Internet of Things Inc.

June 25, 2015 14:35 ET

Internet of Things Inc. Continues Application Development and Explores Joint Venture Opportunities

TORONTO, ON--(Marketwired - June 25, 2015) - Internet of Things Inc. (TSX VENTURE: ITT) ("IoT Inc." or the "Company") an IoT technology accelerator and industry acquisition company is pleased to provide shareholders with an update on its business activities. The Company continues to develop applications for industrial and consumer-based automotive and manufacturing companies, proprietary middleware platform technology and complete its solutions transition from integrated development to Internet of Things connectivity.

According to the International Data Corporation, the Internet of Things market in manufacturing operations will grow from $42.2 billion in 2013 to $98.8 billion in 2018, or a five-year compound annual growth rate of 18.6%. Statistics also show that the fastest growing U.S. Internet of Things market segment is in connected vehicles, with 34.8% year-over-year growth anticipated in 2015. Growth will be driven by ongoing efforts to increase efficiency and automation.

"While wearable devices represent the most apparent consumer trend of the Internet of Things, the more significant opportunity remains in the enterprise and public sector markets," said Michael Frank, President and CEO. "The Internet of Things is beginning to disrupt status quo, with traditional IT-based business models having been uprooted, going from IT-enabled business processes to IT-enabled services and now to IT-enabled products."

IoT Labs Inc., a wholly owned subsidiary of the Company, has entered into discussions with a number of universities which are incubating products and technologies that could be synergistic to in-house development and the company's vision. "We are exploring the potential to joint venture with leading academic institutions and are evaluating early-stage prospects related to assisting manufacturers to improve resource efficiency, safety and return on assets," said Manish Dixit, Chief Technology Officer.

Further to the press release dated May 27, 2015, the Company is continuing to explore international opportunities in the IoT space. Having already established a presence in Canada and operations in India, board director Richard Zhou, is working on a market entry strategy for development and distribution in the fast growing IoT space in China as the company considers exploring collaborative joint venture opportunities. "We have been conducting initial stage market research for our technologies and the appetite for their demand is immense," commented Mr. Zhou "The Internet of Things represents a new phase of global transformation driven by innovation, generating significant economic opportunities and reshaping industries." Mr. Zhou is the President of the Evergreen Association and in that role is responsible for assisting in the development of the relationship between the governments of China and Canada along with managing Green Panda Marketing Inc. where he represents a number of leading private and state-owned companies in China in their outbound business investments.

About Internet of Things Inc. (TSX VENTURE: ITT)

Internet of Things Inc. (www.IoTIntl.com) is an IoT technology accelerator and industry acquisition company focused on emerging integrated technologies and solutions. The Company operates three divisions: accelerating technology start-ups; consulting services; and mergers and acquisitions. Internet of Things Inc. will help clients across a wide range of industries leverage the power of IoT, including telecommunications, utilities, healthcare, agriculture, and transportation service providers. The Company maintains offices in Toronto, Canada and Kolkata, India.

Forward Looking Statements

Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • For further information, contact:

    Internet of Things Inc.


    Michael Frank
    President & CEO
    Tel: (416) 677-9277
    Fax: (866) 927-1222
    Email: mfrank@IoTIntl.com
    To learn more, visit: www.IoTIntl.com