> TeraGo Announces Partnership with IKIN to Jointly Provide Holographic Solutions to Canadian Enterprises
TeraGo Announces Partnership with IKIN to Jointly Provide Holographic Solutions to Canadian Enterprises
Toronto – February 3, 2022 – TeraGo Inc. (“TeraGo” or the “Company”) (TSX: TGO, www.terago.ca), announced a strategic partnership with IKIN to develop innovative solutions that combine its 5G mmWave with IKIN’s holographic technologies for Canadian enterprises.
As Canada’s leading provider of fixed wireless solutions and 5G mmWave for mid-market enterprises, TeraGo serves customers across multiple sectors, including manufacturing, warehousing and logistics, and retail. With over 92% of the exclusive 24 GHz and 38 GHz wide-area spectrum in Canada, TeraGo provides IKIN with the capabilities to leverage these assets for the Canadian enterprise market. TeraGo will offer customers the IKIN ARC™ made-for-purpose terminal, the IKIN RYZ™ accessory, along with IKIN’s proprietary software and developer tools.
IKIN’s holographic solutions include handheld and desktop holographic display devices and software that operate in ambient light, and require no headgear or goggles, creating an immersive and engaging experience for users. Its intuitive gesture and touch screen controls allow users to easily manipulate and interact with images in 3D, giving users unparalleled flexibility to design and evaluate products, conduct quality control, evaluate systems and processes, and resolve manufacturing, operations, and customer service issues. IKIN’s technologies have been deployed in a number of environments, including logistics and supply chain management for commercial and government installations, health and wellness, and enhanced conferencing and communications. IKIN’s technology works across both public and private 4G and 5G wireless networks to provide seamless and reliable performance. The IKIN portfolio also includes an open software development toolkit integrated with Unity Technologies and other development platforms, enabling simple incorporation of volumetric content into new or existing mobile apps and other business applications.
“IKIN’s groundbreaking holographic innovations technology in partnership with TeraGo’s 5G Private Networks brings an exciting opportunity to Canadian businesses,” said Blake Wetzel, TeraGo’s Chief Operating Officer and Chief Revenue Officer. “The joint capabilities will significantly improve how Canadian enterprises operate their business by increasing efficiency, reducing costs, accelerating time-to-market, and enhancing customer service. Our valued 5G mmWave spectrum provides IKIN with a multitude of channels for unprecedented innovation that will deliver tangible benefits to businesses across the nation. This is just the genesis of our partnership and we look forward to the results of the live applications.”
Joe Ward, IKIN’s Chief Executive Officer added: “We are delighted to partner with TeraGo, which has earned the trust of Canadian businesses by delivering robust, reliable, and secure wireless communications that improve performance and maximize efficiency. We are eager to join forces with TeraGo and demonstrate how IKIN’s unique holographic applications can not only add value, but become essential tools, in a wide range of industries.”
TeraGo provides wireless connectivity and private 5G wireless networking services to businesses operating across Canada. The Company holds 2120 MHz of exclusive spectrum licenses in the 24 GHz and 38 GHz spectrum bands, which it utilizes to provide secure and reliable enterprise grade networking and connectivity services. TeraGo serves over 1800 Canadian and Global businesses operating in major markets across Canada, including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg, and has been providing wireless services since 1999. For more information about TeraGo, please visit www.terago.ca.
This news release includes certain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond TeraGo’s control. The completion of the proposed transaction with Hut 8 is subject to certain terms and conditions which TeraGo believes to be customary. Such terms and conditions may not be satisfied or obtained in accordance with their terms, in which case the proposed transaction could be modified or terminated, as applicable. Other forward-looking statements may include but are not limited to statements regarding the timing for closing of the proposed transaction, as well as statements regarding the further developing our 5G Fixed Wireless Access program, consistently executing across all fronts of the business, success in providing Canadian enterprises with managed services and the 5G fixed wireless trials being conducted by the Company. All such statements constitute “forward-looking information” as defined under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts constitute forward-looking information. The forward-looking statements reflect the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those risks set forth in the “Risk Factors” sections in the annual MD&A of the Company for the year ended December 31, 2020 and the MD&A of the Company for the three and nine months ended September 30, 2021, each available on www.sedar.com under the Company’s corporate profile. Factors that could cause actual results or events to differ materially include the inability to consistently achieve sales growth across all lines of TeraGo’s business including managed services, inability to complete successful 5G technical trials, the impacts and restrictions caused by the COVID-19 pandemic are prolonged which may further delay customer trials and/or cause a negative impact on future financial results of the Company, TeraGo’s Pandemic Response Plan may not mitigate all impacts of COVID-19, the results of the 5G trials not being satisfactory to TeraGo or any of its technology partners, regulatory requirements may delay or inhibit the trial, the economic viability of any potential services that may result from the trial, the ability for TeraGo to further finance and support any new market opportunities that may present itself, and industry competitors who may have superior technology or are quicker to take advantage of 5G technology. Accordingly, readers should not place undue reliance on forward-looking statements as several factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TeraGo does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.