INEO begins shipping its Welcoming System units to Prosegur
Prosegur will be responsible for the funding, manufacturing, distribution, in-store setup and in-store maintenance of INEO's Welcoming Systems within Prosegur's retail customer sites.
SURREY — INEO Tech Corp., a provider of location based digital advertising, data analytics and loss prevention solutions for retailers, announces that the Company has shipped its initial INEO Welcoming System units to Prosegur EAS USA Inc., a wholly owned subsidiary of Prosegur Compania de Seguridad. Once final testing is completed at a Prosegur validation facility, Prosegur will be installing pilot systems at select locations within some of the largest retailers in Canada and the United States.
“This is a big first step towards getting our systems installed in Prosegur’s retail customers,” said Kyle Hall, CEO of INEO. “Prosegur has customers across the globe representing thousands of retail locations which will benefit from INEO’s Welcoming System. We are looking forward to expanding the initial pilot systems to roll-outs within these large national and international retailers and positioning the Company for significant future growth.”
As part of the distribution agreement, Prosegur will be responsible for the funding, manufacturing, distribution, in-store setup and in-store maintenance of INEO’s Welcoming Systems within Prosegur’s retail customer sites. Meanwhile, INEO will be responsible for online provisioning, operating, and managing of the network of INEO Welcoming Systems in addition to providing location-based analytics to Prosegur and its retail clients for which INEO will receive a monthly recurring revenue fee. INEO is closely working with Prosegur to prepare their manufacturing plants for mass production of the Welcoming System.
INEO is also announces the successful integration of INEO’s technology with Prosegur’s tag detection technology. With this integration, INEO now aligns with Prosegur’s existing technology and supports all of the most commonly used frequencies in Electronic Article Surveillance loss prevention systems, including RF 8.2MHz and AM 58KHz. INEO’s Welcoming Systems are compatible with virtually all of the existing loss prevention tags and labels in the market, providing an easy migration path for customers.