- Earlier this year, SPYR announced its acquisition and expansion plans for this year that involved possible acquisitions of two companies
- In a recent announcement, the company reported it had entered into a material definitive agreement to acquire one of the two targets: GeoTraq, Inc.
- GeoTraq develops and manufactures 100% self-contained, fully-integrated, ultra-small, plug-and-play mobile IoT modules that consume low power
- The acquisition positions SPYR to tap into the growing cellular IoT market and cellular IoT module space
- Upon completing the acquisition, SPYR will have two subsidiaries
In a late March announcement, technology company SPYR (OTCQB: SPYR), dba SPYR Technologies, which, through wholly owned subsidiary Applied Magix, Inc., operates in the Internet of Things (“IoT”) market, documented its acquisition and expansion plans for 2022 that would build on prospects the company had quietly explored during the 2021 fiscal year. The acquisitions, the March 28 press release noted, would strengthen SPYR’s balance sheet and grow shareholder value (https://ibn.fm/lBSGS).
At the time, the company had been in preliminary discussions with two targets. “Over the past year, we have been actively exploring expansion of the holding company for the benefit of our shareholders, and I believe these two opportunities are very attractive and...
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at http://ibn.fm/SPYR
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@NetworkNewsWire.com
InvestorWire is part of the InvestorBrandNetwork.