iGen Networks to license M2M tech from GPS Holdings

Cloud services player iGen Networks has signed a licensing deal with GPS Holdings it says will allow it to provide a broad range of M2M solutions in the global fleet-management sector.

GPS Holdings (Boca Raton, FL, USA) currently supports more than 50,000 commercial trucking and automotive assets, according to iGen (Alexandria, VA, USA), which says the agreement will allow it to enter new vertical markets without having to spend years on developing the requisite software.

“The securing of this asset enables us to grow our business much more rapidly without many years of software development normally required to enter the M2M markets,” said Neil Chan, chief executive of iGen Networks. “Through the innovative iGen Cloud Platform, we will be developing and offering solutions that can help make great impact in the M2M space.”

“From tracking vehicles for faster and more efficient fleet management, to vehicle location and auto-recovery of stolen vehicles, M2M solutions through iGen will minimize costs and improve productivity,” added Chan.

iGen is working hard to grow its M2M business, citing a study from Infonetics Research that forecasts the number of M2M connections worldwide will triple from a current level of about 190 million by 2017 and become the largest growth engine for operator revenues.

News of the deal with GPS Holdings comes several weeks after iGen said it was ramping up its development of M2M solutions with the aim of minimizing costs and improving productivity for customers.

The company is under pressure to turn around its financial performance, having reported a string of losses since it began generating revenues in the final quarter of 2011.