Corporate News Blog - Inseego And Undagrid Form a Global Strategic Partnership to Offer Asset Information Systems for The Aviation Sector
ACCESS Newswire
LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Inseego Corp. (NASDAQ: INSG), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=INSG. The Company announced on October 09, 2017, that it has entered into a Global Strategic Partnership with Undagrid. The partnership will leverage the extensive expertise of both Companies in the area of asset information systems for the aviation markets and offer complete asset utilization solution to the owners of assets at airports. This solution would allow the Companies operating in the airport industry to make fast yet smarter decisions. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on the formation of partnership with Undagrid, Chris Lytle, EVP of Telematics and SaaS Solutions at Inseego, said:
"We are very excited to be working with Undagrid to bring a highly differentiated asset tracking solution to the market. The combination of Ctrack and Undagrid will make our customers smarter with deeper end-to-end visibility into their assets."
Rolf van de Velde, CEO of Undagrid, added:
"We are pleased to combine forces with Inseego to serve existing and new aviation customers. Inseego has a rich history of deploying fleet management solutions and we look forward to delivering great value to our customers through an integrated solution."
Scope of Partnership
Inseego has successfully of provided motorized GPS fleet management solution via Ctrack for more than 30 years. The Company believes that the air service sector is a fast-developing market and has great opportunities for growth. The customers in this sector are sophisticated and expect a user-friendly solution to deliver an end-to-end asset utilization and tracking system. Inseego's Ctrack airport solution has been implemented by KLM Equipment Services (KES) and data at the Amsterdam airport. The Company has also successfully implemented Ctrack airport solutions in Germany and Asia.
On the other hand, Undagrid has successfully implemented its unique sensor and localization-based solutions at more than ten airports in Europe and Middle-East. The key highlight of the solutions offered by Undagrid is that their devices are powered by long-life batteries and work on "mesh communication technology" which has improved the overall utilization, planning, and efficiency of the assets.
Inseego will bring to the partnership its Ctrack SaaS (software-as-a-service) platform - a leading motorized GPS fleet management solution, whereas Undagrid brings its expertise in providing solutions for ground equipment and assets at airports using its Autonomous Dynamic Asset Management. The partnership has already bagged a major project with KLM at the Amsterdam airport and is in the process of getting more projects in Germany, Hong Kong, and Scandinavia.
As part of the strategic alliance, both Companies plan to concentrate on offering an end-to-end solution that covers everything from the visibility, security to safety for a wide range of airport equipment for its customers. The integrated SaaS solution would offer complete visibility on all deployed assets to the management. This solution would not only allow customers to reduce its fleet of assets but also have fully automated billing.
About Inseego Corp.
San Diego, California based Inseego is a leading global provider of MiFi®-branded intelligent wireless solutions for the worldwide mobile communications market, software-as-a-service (SaaS) and solutions for the Internet of Things (IoT). Inseego's IoT division sells business connectivity solutions and device management services under its MiFi, Novatel Wireless, and Skyus brands. The Company offers SaaS and telematics solutions through its Ctrack brand. The solutions include fleet management, asset tracking and monitoring, stolen vehicle recovery, and usage-based insurance platforms, and DMS - a device management solution for enterprise and government organizations. The Company has over 664,000 global subscribers, including 198,000 fleet management customers.
Under the Ctrack brand the Company's operations are spread across 55 countries in six continents and is supported by a team of around 1,000 employees.
About Undagrid
Amsterdam, The Netherlands-based Undagrid is a leading IoT solution provider for the aviation, maritime and logistics industries. The Company's proprietary Autonomous Dynamic Asset Management connects assets like containers, gangways, trolleys, etc. through an autonomous communication network in combination with an innovative tracking technology, so that they can be managed and tracked easily. This enhances the quality and efficiency of the workflow resulting in better processes and provides competitive edge of its customers. The Company's unique sensor and a localization-based solution is currently in use in more than ten airports in Europe and Middle-East.
Last Close Stock Review
On Tuesday, October 10, 2017, the stock closed the trading session at $1.42, falling 4.70% from its previous closing price of $1.49. A total volume of 185.98 thousand shares have exchanged hands. Inseego's stock price surged 14.52% in the last one month and 4.41% in the past three months. The stock currently has a market cap of $80.37 million.
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