2020-10-22 09:00 ET - News Release
EDMONTON, Alberta, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Visionstate Corp. (TSX-V: VIS) (“Visionstate”) is pleased to announce that Visionstate IoT Inc., a wholly owned subsidiary of Visionstate Corp., and Bunzl Canada Inc. (bunzlcanada.ca), the Canadian division of specialist international distribution and services group, Bunzl plc, have renewed their partnership agreement for Bunzl to sell and distribute Visionstate’s proprietary Wanda IoT (Internet of Things) solution through its global markets.
The agreement solidifies and enhances Visionstate’s existing partnership with Bunzl with a wider revenue stream, in addition to Bunzl sales efforts, that includes the provision of development services to create new features and functionality for the product. This agreement positions Bunzl, a global distributor of cleaning and hygiene products and equipment, as the exclusive distribution partner for Visionstate IoT Inc.
Through the partnership Visionstate earns royalties on each Wanda unit sold and collects monthly residual income from on-going license fees derived from its three products. The agreement provides Visionstate with access to Bunzl’s global market in terms of the sales and distribution of the Wanda solution, which has gained significant attention as a result of the COVID-19 pandemic.
“Visionstate is extremely pleased to be partnered with Bunzl,” said Visionstate CEO John Putters. “It leverages both companies’ strengths by bringing together a large distributor with global sales and marketing capabilities and Visionstate’s expertise and proven track record in introducing new innovations.”
Visionstate will be working collaboratively with Bunzl to further enhance the Wanda solution. The front-line business intelligence brought by Bunzl enables Visionstate to focus on technology development and meet the demands of its customer base.
“The future of Visionstate is solidified under the terms of the agreement,” explains Putters. “It positions the Company to be aligned with a global leader in cleaning and hygiene, which is our primary market, and therefore provides a level of protection for Visionstate as it continues to gain market share in this industry.”
The partnership is mutually beneficial to both businesses. “The market for this type of technology has grown significantly since the COVID-19 outbreak, as public and private facilities grapple with increasing requirements for tracking activity and compliance with rigorous cleaning and hygiene standards and protocols,” said Margo Hunnisett, Vice President of Marketing & Communication at Bunzl Canada. “Continuing our relationship with Visionstate IoT maintains Bunzl’s position as industry leader in providing exclusive innovations that help our customers improve efficiency and the effectiveness of their facility cleaning and maintenance programs.”
The Wanda solution suite of products, which have revolutionized facility cleaning management and tracking, includes Wanda tablets and traffic counters placed in or near smart restrooms, WandaMOBILE for tracking and recording cleaning protocols throughout buildings, and Wanda QuickTouch, an innovative IoT button used for quick deployment of cleaning alerts and responses. The new agreement represents the next phase of evolution for Visionstate and Wanda.
About Visionstate Corp.
Visionstate Corp. (TSX-V: VIS) is a growth-oriented company that invests in the research and development of promising new technology in the realm of the Internet of Things, big data and analytics, and sustainability. Through Visionstate IoT Inc., it helps businesses improve operational efficiencies, reduce costs and elevate customer satisfaction with its state-of-the-art devices that track and monitor guest activities and requests. The footprint of its WANDA™ smart device now extends to hospitals, airports, shopping centres and other public facilities across and beyond North America. Through building up a collection of synergistic technologies, Visionstate Corp. will continue to innovate, reduce environmental impact and transform consumer experiences.
Issued on behalf of the Board of Directors of Visionstate Corp.
“John A. Putters”
Visionstate Corp.