ikeGPS Master Purchase Agreement with Stanley Black & Decker
November 18, 2014
Master Purchase Agreement and
Licencing Agreement with Stanley Black & Decker,
Agreements extend ikeGPS’ reach into the global Construction and DIY markets
ikeGPS (“ike”) has announced that it has entered into agreements with Stanley Black & Decker Inc, (“SBD”), the global tool & equipment supplier and Fortune 500 Company, to manufacture, brand and have distributed by SBD, a smart phone measuring solution based around core ike intellectual property. Under the agreements a SBD-branded mobile software app will also enable users to subscribe to additional features and measurement capabilities.
ike CEO Glenn Milnes said, “This relationship is an exciting development for us, providing access to SBD’s worldwide network of retailers and distribution partners in the construction and DIY industries, and providing a highly recognised and trusted brand to assist with the sale of our solutions. This arrangement further supports our objective to build out a subscription-based software offering for targeted sectors – in this case within the Architecture, Engineering and Construction market.”
This is the third agreement ike has reached with industry market leaders in 2014. In January, General Electric entered into an agreement with the Wellington-based company in relation to its electric utility solution, now rebranded GE MapSight. Earlier in October it announced a contract with In-Q-Tel relating to the US intelligence and defense market.
The agreements with SBD are expected to underpin at least the revenue of $1.47m set out in the company’s June prospectus projected from an Original Equipment Manufacturing channel in FY 2015/16, and are expected to generate modest contract revenue in both FY 2014/15 and FY 2015/16.
A further update on the company’s performance will be provided with the interim financial report for the 2014/15 half year.
ikeGPS’ mission is to revolutionize every measurer’s day. Its field data collection and asset management solutions have been adopted around the world and are used in in a variety of industries including Utility, Telecom, Government/Defense, and Engineering. The Company has a Trademark Agreement with General Electric and markets its Electric Utility solution as GE MapSight.
The company recently introduced Spike, the world’s first laser accurate Smartphone measurement solution. ikeGPS’ global sales and marketing headquarters is based in Colorado USA. ikeGPS Group is listed on the main board of the New Zealand Stock Exchange under the stock symbol IKE . For more information, visit www.ikegps.com.