- SPYR just completed the acquisition of GeoTraq as part of its 2022 expansion plan
- GeoTraq is known for its mission to simplify businesses with mobile IoT by providing low-cost IoT with plug-and-play functionality
- GeoTraq becomes the second company acquired by SPYR, following Applied Magix’s acquisition in 2020
SPYR (OTCQB: SPYR) recently completed the acquisition of GeoTraq, a Nevada-based enterprise that develops and manufactures advanced Internet of Things (“IoT”) modules for location-based services, asset tracking, and sensor modules for remote monitoring. The acquisition is in line with SPYR 2022 expansion plans to strengthen the company’s balance sheet while also growing shareholder value (https://ibn.fm/rVf2l).
Founded back in 2005, GeoTraq made a name for itself in the IoT space, mainly through its mission to simplify businesses with mobile IoT. Driven by its vision for a smart, simple, and connected world, the company has introduced various products, mainly comprised of simple IoT modules that are quick to deploy and easy to maintain.
GeoTraq has defined low-cost IoT technology with plug-and-play functionality through its product offerings. Its modules are 100% self-contained, fully integrated, and ultra-small, with a unique design that enables them to connect to sensors, antennas, batteries, and cloud services via GeoTraq’s proprietary cloud-based “WebTraq” platform (https://ibn.fm/7U9h0).
“The modules are designed with an event-driven architecture that uses data from sensors to wake up the module to transmit an alert if detection, consumption, or reaction occurs,” notes GeoTraq’s website. “Trigger points are based on conditions, patterns, or readings from sensors; they are intelligently designed to send you only the data you want, at the precise moment you need to act on it,” it adds.
GeoTraq becomes SPYR’s second acquisition, following the Applied Magix purchase in 2020. The acquisitions represent the company’s significantly growing footprint and list of products that it offers its consumers.
“GeoTraq has built a product that can be used in multiple ways, not just tracking,” noted Tim Matula, SPYR’s Chief Executive Officer (“CEO”).
“Sensors can be added to provide the customer with additional data points such as temperature and motion along with other sensor driven data. We are very excited with this acquisition and look forward to continuing to build our company,” he added.
For SPYR’s Applied Magix product information, please see the Applied Magix website at https://AppliedMagix.com, or specific product sites:
- MagixDrive Wireless CarPlay Adapter – https://appliedmagix.com/shop/carplay/magixdrive-wireless-carplay/
https://appliedmagix.com/MagixDriveBundle - HomeKit Secure Video Camera with iCloud Storage – https://appliedmagix.com/HomeKitCamera
- Multipurpose Sensor with Alarm – https://appliedmagix.com/HomeKitAlarmSensor
- Environment and Motion Sensor – https://appliedmagix.com/HomeKitMotionSensor
- Window and Door Contact Sensor – https://appliedmagix.com/HomeKitContactSensor
- MagixBlock USB DataBlocker – https://appliedmagix.com/MagixBlock
- MagixCharge Dual USB-C Car Charger – https://appliedmagix.com/MagixCharge
For more information, visit the company’s website at www.Spyr.com.
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential. We offer several ways for investors to learn more about investing in these companies as well as find and evaluate them.
QualityStocks (QS)
Scottsdale, Arizona
www.qualitystocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
