Proactive Investors - Run By Investors For Investors

Connected IO opens new sales channel through deal with major US telco

Cisco (NASDAQ:CSCO) predicts there will be 50 billion connected devices by 2020.
concept of the internet of things
Computers and phones are connected but soon, so will toasters and coffee machines

Connected IO Ltd (ASX:CIO) has signed a reseller agreement with a major US telco company that will allow the telco company to sell Connected IO products to its customers.

This essentially opens up a new sales channel for Connected IO, and it is a significant one given the major US telco has a 3,000+ person sales force.

Shares were up 20% to 3 cents later morning.

Connected IO operates in the multi-trillion dollar internet-of-things (IoT) sector

Connected IO is a wireless technology innovator and manufacturer selling products such as modems, antennae and routers.

Essentially, these products connect ‘things’ to the internet, or a network.

It specialises in machine to machine (M2M) connectivity, providing hardware and software solutions to some of the world’s largest companies.

These companies include Coca Cola (NYSE:KO), Verizon (NYSE:VZ) and AT&T (NYSE:T).

For example, the company’s products can be used to connect vending machines to a network.

READ: Connected IO bags order from US cyber security player

Last month, the company revealed that the trials of its custom category 1 routers have been successful and signed off by a US-based cyber security company.

The company has received an upfront payment of $235,000 and the parties are now proceeding to complete a formal contract.

Record quarterly purchases achieved in December

The company endured a solid growth phase in the recent December 2017 half receiving a number of long-term purchase orders.

Revenues for the half more than doubled to $741,000 on the prior corresponding period.

Notably, it achieved record December quarter purchase orders of $1.91 million.


View full CIO profile View Profile

Connected IO Ltd Timeline

Related Articles

Empty meeting room
March 06 2018
The company's eponymous flagship product is not the only remote meetings enabler out there, but judging by the company's rapid growth, it is one of the best
Flow chart of the Hazer Process
The Hazer Process could disrupt the $100 billion hydrogen production market.
Digital marketing
September 11 2017
Lots of marketing groups have pursued a 'buy and build' strategy and have become cumbersome as a result; Be Heard puts the emphasis on maintaining agility

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use