IOT clinches deal with world’s largest technology distributor
The IOT Group (ASX:IOT) today revealed it has penned a distribution agreement for Europe and the UK with the largest wholesale tech distributor in the world — Ingram Micro Inc.
This agreement enables IOT to create a strong UK and European distribution channel for its products. Purchase orders and deliveries are being processed for delivery this week.
Ingram Micro (UK) Limited is the UK/European subsidiary of Ingram Micro Inc., a Fortune 100 company. It is the world’s largest wholesale technology distributor and a global leader in IT supply-chain, mobile device lifecycle services and logistics solutions.
Ingram Micro distributes and markets a wide variety of technology and mobility products from major leading companies including Acer, Apple, Cisco, Hewlett-Packard, IBM, Lenovo, Microsoft, and Samsung.
It supports global operations through an expansive sales and distribution network throughout North America, Europe, the Middle East and Africa, Latin America and Asia-Pacific, with local sales offices or representatives in 37 countries and 119 distribution centres worldwide. The company represents more than 1700 vendors, and also serves more than 200,000 resellers in some 160 countries.
IOT are also in discussions with Ingram Micro for the US and South American territories. In further positive developments, IOT has announced that Best Buy US, Superior Distribution, b8ta, B&H Photo and Amazon USA continue to sell out both its AirSelfie and ROVA products, and regularly place repeat orders. The company is seeing strong global consumer demand for both the AirSelfie and the ROVA.
IOT management will attend the Consumer Electronics Show (CES) in Las Vegas, Nevada, in January next year to present its product range, including second generation Air Selfie and ROVA which are due for release in the first and second quarter of the year.
CES is a key event for crystallising relationships with existing clients and further expanding worldwide distribution. Presentations of these new products will also be made to major retailers or their sales accelerator representatives.
Overall this is an early stage play and as such any investment decision should be made with caution and professional financial advice should be sought.
In relation to today’s update, IOT executive director Sean Neylon said: “IOT continues to grow its distribution network – the signing of the world’s largest distributor, Ingram Micro, for Europe and the UK, strengthens IOT’s footprint and sales presence in that territory.
“Purchase orders are already in process and products are being shipped. IOT are seeing continual repeat orders from current retailers and distributors which strengthens the long-term plan for IOT to grow its sales and distribution network globally. IOT is on plan to significantly grow its business over the next five years.”
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.