Protecting and tracking valued assets, like vehicles, has become a very profitable and technologically innovative industry. The multi-billion dollar market is measured in units sold and installed. IGEN Networks Corp (IGN:CNX) (IGEN) , a company that offers a range of self-provisioning applications used to manage and recover stolen assets, provide access to roadside assistance programs and improve productivity of commercial fleets, has reached a major sales milestone through its subsidiary.
IGEN Networks Corp.'s wholly owned subsidiary, Nimbo LLC, shipped 1,200 units of a primary product designed for vehicles at new car dealerships in September. Setting a new one-month sales record, this accounts for more than 25% of its total year-to-date shipments.
Nimbo LLC provides robust wireless M2M solutions specializing in providing integrated GPS tracking and vehicle warning solutions for various markets. Earlier this year, the subsidiary partnered with Star Shield Solutions LLC and Sky Force Technology Inc. to launch automotive dealership programsin Southern California.The dealership tracking car dealer program is designed to assist dealers in managing their new and used inventory as well as keeping track of their loaner vehicles.
This news continues IGEN’s recent winning streak. Earlier this month, IGEN gained PRM status within the Verizon Wireless (VZ) Partner Program. What makes the newly set sales record so impressive, though, is that those sales were made prior to IGEN gaining PRM status. Also, the company’s Canadian publicly listed stock was recently added to the CSE Composite Index.
In the past year, IGEN Networks has shown significant progress within their sector. The company’s continued success and growth marks their place as a worthy competitor in the vehicle recovery market.
For more information about IGEN Networks, visit www.igen-networks.com.
Disclosure: In the purview of Section 17(B) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention the fact that Equities.com, Inc. may be compensated by the companies profiled in the Spotlight Companies section. The purpose of these profiles is to provide awareness of these companies to investors in the micro, small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. Equities.com is not a registered broker, broker dealer, investment advisor, analyst, investment banker or underwriter. All profiles are based on information that is available to the public. The information contained herein should not be considered to be all-inclusive and is not guaranteed by Equities.com to be free from misstatement or errors. Readers are reminded to do their own due diligence when researching any companies mentioned on this website.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer