IOT Group Limited and California-based NetObjex Inc. have entered into a Strategic Partnership – Marketing and Referral Agreement, Teaming Agreement that will focus on expanding business opportunities around the internet of things (IoT) technologies and leverage NetObjex’s flagship Digital Asset Management Platform for applications across industries.
NetObjex provides enterprises and technology companies with a comprehensive Digital Operating platform for smart devices to enable the development of solutions that gather and collect valuable data in real-time. It services industries including Supply Chain and Logistics, Transportation, Manufacturing, Tourism, Media, Property, Healthcare and Smart City ecosystems.
IOT’s particular interest is in NetObjex’s Digital Asset Management Platform that offers advanced functionality in developing IoT data marketplaces where connected things can transact. The platform provides an effective means of tracing and asset tracking along with better tools to measure performance, efficiency, and utilization.
It is currently used in Supply Chain and Logistics to track and trace ensuring efficiency, optimization and prevent theft; in Manufacturing to protect against counterfeiting and prevent downtime; in Transportation and Automation allowing inter-device communication and smart applications (tolls, parking, and drone delivery); and in Smart Cities to allow usage-based billing, reduce wastage and measure consumption.
IOT is looking to use the platform to connect its IoT devices for clients, including cameras, wearables, drones, and other devices. By connecting these devices, companies would be better able to communicate to achieve outcomes such as security, automation, and environmental and energy management.
IOT will gain exclusive rights to represent NetObjex in New Zealand and Australia on a year on year basis under the Marketing and Referral Agreement, which is subject to fulfillment of targets and key performance indicators.
In terms of remuneration, IOT will receive 10% of the monthly payment received from the referral for the length of the product license or contract. Both the companies will also work closely together in a collaborative sales process to generate sales and develop business globally.