TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) — Internet of Things Inc. (TSX VENTURE: ITT; OTC: INOFT; FRANKFURT: 71T) (“IoT Inc.” or “the Company”) a strategic investor and operator of emerging technology companies with innovative IoT, AI and Blockchain solutions, is pleased to announce that its joint venture, New Hope IoT Intl Inc. (the “JV”), has entered into a channel agreement with PointGrab Ltd. (“PointGrab”) to market, sell and service its products in China.
Leveraging its innovative sensing technology platform, CogniPointTM, PointGrab is poised to pioneer the next generation of office workspace optimization solutions. PointGrab provides its smart sensing solution for the smart buildings and commercial real estate technology (CRE-tech) industries. The technology makes it easy for workers to share and find workspace and colleagues, fostering greater collaboration and productivity. CogniPointTM also allows users to optimize allocation of physical resources such as workstations, meeting rooms, lighting, HVAC and more, leading to significant cost-savings and improved efficiency.
“Utilizing advanced deep-learning neural networks technology, PointGrab delivers business intelligence through actionable data,” said Michael Frank, Chief Executive Officer of IoT Inc. “Statistics show that the trend of workplace autonomy is here to stay. As such, it’s crucial for organizations to understand how and where employees are using office flex space so that they can optimize usage, realize cost efficiencies and improve overall productivity.”
“With office densification rates having increased across the globe in 2017, combined with evidence of poor space utilization, and the expectation for more productive work environments, the need for workspace management tools has never been so urgent,” said Doron Shachar, Chief Executive Officer of PointGrab Ltd. “Data-driven decision making and occupancy analytics are essential to achieving success in this space. We are excited to partner with the talented team at IoT Inc. and to leverage their extensive connections as we all work towards bringing our technology to market in China.”
About PointGrab Ltd.
Leveraging its ground-breaking sensing technology, PointGrab is pioneering the next generation of office workspace optimization solutions. Its flagship product, CogniPointTM, is a highly advanced facility management sensing solution which provides insight into occupant behavior and space utilization, while ensuring individual privacy. PointGrab is taking the lead in this space and collaborates with many partners in the facility management and building ecosystems to deliver flexible and efficient solutions that improve commercial real estate business performance. PointGrab has its headquarters in Hod-Hasharon, Israel. More information is available at http://www.pointgrab.com; follow us on Twitter and LinkedIn.
About Internet of Things Inc.
Internet of Things Inc. is a strategic investor and operator of high growth companies with innovative technology solutions. The Company creates value through our portfolio companies’ expertise in IoT, AI and Blockchain solutions, by turning data into actionable intelligence to drive more efficiency into organizations.
The Company owns Weather Telematics Inc., and has a joint venture partnership, New Hope IoT Intl Inc.., with New Hope Data Technology Co. Ltd. Internet of Things Inc. also has strategic investments in Braingrid Corp. and Blockstrain Technology Corp. and has its headquarters in Toronto, Canada.
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Statements contained in this news release, which are not historical facts, are forward-looking statements that involve risk, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements included in this news release are based on information available to the Company on the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results of the Company to differ materially from the conclusion, forecast or projection stated in such forward-looking statements. These risks, uncertainties and other factors include, but are not limited to factors referenced in the Company’s other continuous disclosure filings, which are available at sedar.com. Readers should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statements, except as required by applicable securities laws.
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