ikeGPS partners with hardware giants to drive US growth

7 October, 2015

ikeGPS partners with hardware giants to drive US growth

Revolutionary Kiwi technology is set to make a splash in the US construction and DIY markets, thanks to relationships between NZX-listed ikeGPS and two US Fortune 500 companies.

Smartphone measurement technology developed by ikeGPS is powering the new STANLEY®Smart Measure Pro product, which goes on sale in the US later this month at leading hardware retailer Lowe’s and through the Stanley Tools website.

ikeGPS CEO Glenn Milnes says working with two of the best-known brand names in the hardware and retail business creates tremendous opportunities for future hardware and mobile app sales and will drive increased subscriptions to its cloud-based software services.

“Lowe’s operates some 1,850 stores across North America, while Stanley Black & Decker is a household name in construction and DIY markets around the world,” says Milnes.

Milnes says the launch order alone of the Smart Measure Pro product will generate approximately $2.5 million in revenue during the current financial year, compared with forecast revenues from sales to other manufacturers of $1.4 million.

“Increasing sales will also generate ongoing subscription revenue, and create a platform for further potential growth in the US and in other markets, particularly Europe and the Asia-Pacific region,” says Milnes.

“While this is only a pilot launch, we are very focused on making it a success and building on the opportunities arising from it.”

Milnes says the Smart Measure Pro is based entirely on ikeGPS intellectual property.

“ikeGPS manufactures and delivers the hardware units, ikeGPS builds and delivers the smartphone app into Apple App stores and Google Play stores, and ikeGPS hosts the cloud-based software and subscription product,” says Milnes.

“The Smart Measure Pro is another significant step in ikeGPS’ strategy to deliver high-volume mobile hardware and mobile apps, and, on the back of this, to provide high-value subscription software products to end users via our cloud-based measurement platform.”

Smart Measure Pro users can take measurements from images using their smartphone and the Smart Measure Pro mobile app. Users can also view, edit, export and map images from their desktop. The hardware unit and smartphone app is expected to retail in the US for $US149 ($NZ230); an anual subscription to the cloud software service will cost $US119 ($NZ185).

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