TORONTO, Feb. 3, 2022 /CNW/ -
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."
About TeraGo
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.
Forward-Looking Statements
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.
SOURCE TeraGo Inc.