Global Agreement with Prosegur "This is a monumental partnership for INEO," said Kyle Hall, CEO of INEO. "We are very pleased to be working with Prosegur, which operates globally and has established relationships with some of the largest retailers in the world. Our partnership with Prosegur is a significant validation of INEO's technology and positions the Company for substantial future growth."
Under the terms of the Agreement, Prosegur is granted distribution rights to sell, secure, place and install the patented INEO Welcoming System under their own brand, "Prosegur EVO". Prosegur will be responsible for the funding, manufacturing, distribution, in-store setup and in-store maintenance of the systems. Meanwhile, INEO will be responsible for online provisioning, operating, and managing of the Media Network which powers the screens inside of EVO. INEO will also provide AI powered, location-based analytics to Prosegur and its retail clients which can provide store traffic count as well as certain demographic info, such as gender, age, and even customer satisfaction rating. All of the data is easily accessible to the retailer through a cloud-based dashboard or emailed to their inbox daily.
Working with Prosegur is expected to boost INEO's sales, manufacturing, distribution and installation capabilities and substantially grow INEO's Media Network. INEO expects to continue to sell to certain customers and markets on its own but will now also be able to concentrate more resources on advancing its technology and intellectual property. In addition, Prosegur is also granted, under the terms of the agreement, the right to fund and prosecute intellectual property rights and protection, on INEO's behalf.
See
https://www.newswire.ca/news-releases/ineo-announces-global-agreement-with-prosegur-850399219.html