Friday, June 3, 2022

SPYR Inc. (SPYR) Seeks to Build Shareholder Value Through IoT Ecosystem Acquisitions, Router Product Development

 

  • Internet of Things (“IoT”) technology holding company SPYR Inc. is invested in developing Apple(TM) ecosystem-focused products through its subsidiary Applied Magix — some as own-brand accessories and others as white label items for the Apple HomeKit(TM) market
  • Applied Magix recently announced it is evaluating the potential of developing HomeKit Secure Routers to strengthen its overall product offerings
  • Applied Magix is contemplating the expansion of its product distribution to international markets as well, beginning with Hong Kong, where it has a representative office
  • SPYR is also looking for ways to expand the holding company, commencing with preliminary talks on the acquisition of a proprietary lighting technologies developer and a proprietary high-value asset tracking technologies developer

Two years after Singapore launched a national Cybersecurity Labelling Scheme that helps buyers gauge how secure smart devices are against cyber risks, a growing number of company product applications demonstrates the importance consumers are placing on security for their growing cache of Internet of Things (“IoT”) innovations (https://nnw.fm/iFhb2).

The government program is also attracting international attention as agencies worldwide continue to see their oversight of modern technology security evolve. A draft report by the U.S. Department of Commerce’s National Institute of Standards and Technology analyzed diverse approaches to cybersecurity for IoT devices as remote-work corporate strategies increased during the pandemic, noting that consumer sources for product confidence range from reports of other users’ experiences to reporting by consumer groups, manufacturer-generated labels and hopes that the government will regulate the accuracy of those labels (https://nnw.fm/EhZBz). 

Wireless routers serve as a fundamental building block of home and business networks, and a compromised router represents a major security problem because it can provide a gateway for malware to breach a network.

IoT technology developer SPYR (OTCQB: SPYR) is devoted to building an ecosystem of Apple-compatible products through its subsidiary Applied Magix, establishing white label products and accessories for the Apple HomeKit(TM) market in addition to its own-brand products. 

Acknowledging the importance of router security for smart home IoT products, Applied Magix announced recently that it is considering developing HomeKit Secure Routers — evaluating various router products to use as the foundation for a branded HomeKit Secure Router, but also looking at the possibilities of reselling “best-of-breed OEM products until then,” as Applied Magix CEO Harald Zink stated in the announcement (https://nnw.fm/AMVSH).

“This is the sort of forward thinking that I have come to expect from Applied Magix,” SPYR Technologies CEO Tim Matula added. “Applied Magix has quickly become the foundation on which SPYR can rely to develop and deliver essential smart home products to a hungry market.”

Applied Magix is ambitious about expanding its operations to international markets. The company has a representative office in Hong Kong and is evaluating opportunities to expand the reach of its smart home and connected car products to Latin America, Central Europe and Thailand. 

As part of its growth strategy for 2022, SPYR is also in preliminary discussions with a popular industrial lighting developer and an asset tracking software-hardware platform developer that serves the construction, agriculture, asset management, police, defense, energy and cold-chain industries — both of which have been identified as potential acquisition targets that would boost SPYR’s IoT division and have a positive effect on its holdings.

“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 will, assuming we complete the acquisitions, contribute to the overall business development and profitability of the Company for the benefit of our shareholders,” Matula stated (https://nnw.fm/mDMVz). 

For more information, visit the company’s website at www.Spyr.com.

NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://nnw.fm/SPYR

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