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

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

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12:30 09 Mar 2018
Cisco (NASDAQ:CSCO) predicts there will be 50 billion connected devices by 2020.
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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.