SPYR (OTCQB: SPYR), dba SPYR Technologies, a technology company, has signed a material definitive agreement to acquire GeoTraq Inc. from NASDAQ-traded JanOne Inc. (NASDAQ: JAN). According to the announcement, GeoTraq develops and manufactures self-contained and ultra-small Mobile Internet of Things (“IoT”) modules that can be used for asset tracking and location-based services, as well as sensor modules for remote monitoring. GeoTraq Mobile IoT modules are small, offer a long battery life, consume low power and provide global LPWAN connectivity. Because the modules work right out of the box, users eliminate the hassle and cost of designing and building a printed circuit board for mounting. In addition, the modules achieve extremely accurate indoor and outdoor positioning capability without any global positioning system (“GPS”) or global navigation satellite system (“GNSS”); they only use LTE radio by cellular tower triangulation. In addition, SPYR subsidiary, Applied Magix Inc. is evaluating the possibility of adding health and wellness products to its product category portfolio. The trillion-dollar global market is ripe for more personalization in the areas of health, fitness, nutrition, appearance, sleep and mindfulness, which is where Applied Magix sees opportunity. “While home and car are important to most people, really the most important thing to most people should be, and is, their health,” said Applied Magix CEO Dr. Harald Zink in the press release. “We are excited about exploring which products to add to our health and wellness line. . . . Technology over the past few years has made health and health monitoring easier and more accessible than ever, and we are really excited about adding this most important category to Applied Magix, which will be accessible under a new Health section on our website.”
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About SPYR Inc.
SPYR Technologies is a technology company that, through its subsidiary Applied Magix Inc., develops and resells Apple ecosystem-compatible products with an emphasis on the growing multibillion-dollar IoT smart-home and connected-car markets. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (“AI”) and smart-technology products. For more information about this company, visit https://ir.spyr.com.
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