Business
Signature Devices Signs Agreement to Acquire Four (4) Internet of Things Companies Under Subsidiary Innovo Technology
Signature Devices Signs Agreement to Acquire Four (4) Internet of Things Companies Under Subsidiary Innovo Technology.
About this update from Signature Devices Inc
[{"type":"text","content":"\n \n \n Signature Devices Signs Agreement to Acquire Four (4) Internet of Things Companies Under Subsidiary Innovo Technology\n \n \nSignature Devices Signs Agreement to Acquire Four (4) Internet of Things Companies Under Subsidiary Innovo Technology\n \n IRVINE, CA--(Marketwired - Jan 11, 2017) - Signature Devices, Inc. (OTC PINK: SDVI) -- today announced the formation of Innovo Technology (www.innovotech.io) and the acquisition and merger of Four (4) IOT companies. \n Innovo Technology, a leading software and hardware development company has launched its IOT business. Four companies were formed at start-up Incubator Inqubus, the subsidiary of Central Wireless and later acquired by Signature Devices, Inc. Innovo develops and manufactures devices for digital home media management under its Morpheus brand combined efforts with, Truckit, Tazerwear and Knoton to create a connected platform for the Internet of Things. The expected closing date for the transaction is February 1st, 2017. Two of the four companies are already profitable.\n The Extreme High Bit Rate (ExHBR®) Morpheus Media Server gives consumers a high end media repository that integrates nicely with products like the Apple TV and Roku as well Morpheus's own dedicated ExHBR® players. Morpheus offers multiple solutions, which are currently sold, to distributors and installers. Innovo will focus on producing a direct to consumer version of the product, which is already in beta. The Morpheus servers have been in market and sold to customers in Asia, Europe and the Middle East. The company has generated over $200k in product sales with minimal fanfare. The global market for home media servers is projected to reach $200 billion.\n Knoton develops IOT devices and supporting software to be used for any IOT based products. The portable device can be used for tracking one's health, a pet's location, a child tracker, Home Automation and other IOT services. The modular platform will enable hardware developers to develop their own products using a library of 50+ sensor covering health, lifestyle and security. The wearables device market produced $20 billion in 2015 and projected to be at $70 Billion by 2025.\n Tazerwear develops AI based software for smart object recognition and applies those algorithms to sensors and wearable devices.\n Truckit is a beacon platform prov...