Insights Visitor gains momentum with new contracts
Sydney, Sep 15, 2016 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") continues to strengthen its revenue base with new contract wins secured by its Insights Visitor division. The contracts range from one to three years and underpin Invigor growing recurring revenue streams. They include:
- A three-year agreement to supply Insights Visitor to Preston Market, a Australia's largest privately owned Market in Melbourne's north. Invigor will provide its Wi-Fi analytics solution to over 140 retailers at Preston Market and the eventual surrounding redevelopment which will cover more than 44,000 square metres.
- A contract extension with Sunshine Coast Council to use Insights Visitor in Caloundra's public places.
Invigor has also been selected as a preferred supplier of its Insights Visitor solution to major shopping CBD precincts. Details of this contract will be made available in the coming weeks.
Together with a pipeline of new contracts wins pending across all operating businesses, the Company's revenue streams are now building steadily.
Invigor's Chairman and CEO Gary Cohen said: "Demand for our Insights Visitor platform is growing rapidly and this is reflected in these new contract wins, recent successes such as Manly Wharf, and the growth in our new business pipeline. The technical superiority of our analytics capabilities and platform is underpinning our growing revenue streams and the increase in selection by a number of our partners.
"Monetising the data from mobile traffic is a key focus for Invigor and means we can offer customers tangible commercial benefits. This is what sets us apart from other WiFi solutions, and why our penetration into multiple precincts is starting to scale rapidly. It will also add a further revenue stream to Invigor.
"Growth across Invigor's operating businesses is very encouraging and we expect to update shareholders on new contracts from both our domestic and international operations which will be immediately revenue-generating."
About Insights Visitor
Insights Visitor is a unique analytics and customer engagement platform that caters for bricks and mortar locations. The proprietary hardware and software uses Wi-Fi and a range of other sensors to assist venue owners and operators in delivering additional revenue streams, reducing costs and increasing operational efficiencies by better understanding customer tastes and preferences as well as the utilisation of physical spaces.
About Preston Market:
Having opened in 1970, Preston Market is considered to be the fresh food and multi-cultural hub of Melbourne's north. As the largest privately owned market in Melbourne, Preston Market comprises more than 140 stores including 12 green grocers, 7 delicatessens, 6 fish shops, 6 poultry shops, 12 butchers, 2 supermarkets and a variety of small goods shops.
A joint venture between Medich Corporation and Salta Properties bought the market in 2004. A 10 year masterplan will see the 44,000sqm Preston Market precinct expand, with a $4m market renewal and a $185m mixed use development.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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