- Internet of Things (IoT) firm Visionstate Corp. (TSXV:VIS) has signed a three-year contract with Bunzl Canada Inc. to distribute its WandaNEXT product
- The contract is expected to double existing revenue associated with the exclusive distribution rights in the Canadian market
- Visionstate leverages its expertise in innovative development, while Bunzl Canada contributes its extensive global distribution network for sales and marketing initiatives
- Visionstate Corp. opened trading at $0.025 per share
Internet of Things (IoT) firm Visionstate Corp. (TSXV:VIS) has signed a three-year contract with Bunzl Canada Inc. to distribute its WandaNEXT product.
The Edmonton-based IoT firm made the deal via its wholly owned subsidiary, Visionstate IoT Inc.
Focusing on enhancing facility management practices, the company’s main operating division, Visionstate IoT Inc. has made strides to improve operational efficiency and cleanliness in various sectors.
The agreement includes revenue-sharing arrangements in the three distribution territories and grants Bunzl Canada exclusive distribution rights for Canada, Australia, and the U.K., while Visionstate IoT will handle direct sales into the U.S. utilizing its existing internal sales resources.
The contract is expected to double existing revenue associated with the exclusive distribution rights in the Canadian market.
Both companies work closely on the ongoing development and enhancement of the WandaNEXT platform. Visionstate leverages its expertise in innovative development, while Bunzl Canada contributes its extensive global distribution network for sales and marketing initiatives.
“This new three-year contract not only underscores the value of our product but also marks a significant step towards achieving our strategic objectives,” Visionstate’s CEO, John Putters, said in a news release.
Visionstate Corp. invests in the research and development of the Internet of Things, big data and analytics, and sustainability. Visionstate’s flagship facility management tool, WANDA is designed to meticulously track cleaning and maintenance protocols. Its smart technology now extends to a diverse range of public facilities across and beyond North America.
Visionstate Corp. opened trading at $0.025 per share.
Join the discussion: Find out what everybody’s saying about this stock on the Visionstate Corp.Bullboard and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.