Visionstate Announces New Global Partnership with Bunzl to Include New and Wider Revenue Streams
23 October 2020 - 12:00AM
Visionstate Corp. (TSX-V: VIS) (“Visionstate”) is
pleased to announce that Visionstate IoT Inc., a wholly owned
subsidiary of Visionstate Corp., and Bunzl Canada Inc.
(bunzlcanada.ca), the Canadian division of specialist international
distribution and services group, Bunzl plc, have renewed their
partnership agreement for Bunzl to sell and distribute
Visionstate’s proprietary Wanda IoT (Internet of Things) solution
through its global markets.
The agreement solidifies and enhances
Visionstate’s existing partnership with Bunzl with a wider revenue
stream, in addition to Bunzl sales efforts, that includes the
provision of development services to create new features and
functionality for the product. This agreement positions Bunzl, a
global distributor of cleaning and hygiene products and equipment,
as the exclusive distribution partner for Visionstate IoT Inc.
Through the partnership Visionstate earns
royalties on each Wanda unit sold and collects monthly residual
income from on-going license fees derived from its three products.
The agreement provides Visionstate with access to Bunzl’s global
market in terms of the sales and distribution of the Wanda
solution, which has gained significant attention as a result of the
COVID-19 pandemic.
“Visionstate is extremely pleased to be
partnered with Bunzl,” said Visionstate CEO John Putters. “It
leverages both companies’ strengths by bringing together a large
distributor with global sales and marketing capabilities and
Visionstate’s expertise and proven track record in introducing new
innovations.”
Visionstate will be working collaboratively with
Bunzl to further enhance the Wanda solution. The front-line
business intelligence brought by Bunzl enables Visionstate to focus
on technology development and meet the demands of its customer
base.
“The future of Visionstate is solidified under
the terms of the agreement,” explains Putters. “It positions the
Company to be aligned with a global leader in cleaning and hygiene,
which is our primary market, and therefore provides a level of
protection for Visionstate as it continues to gain market share in
this industry.”
The partnership is mutually beneficial to both
businesses. “The market for this type of technology has grown
significantly since the COVID-19 outbreak, as public and private
facilities grapple with increasing requirements for tracking
activity and compliance with rigorous cleaning and hygiene
standards and protocols,” said Margo Hunnisett, Vice President of
Marketing & Communication at Bunzl Canada. “Continuing our
relationship with Visionstate IoT maintains Bunzl’s position as
industry leader in providing exclusive innovations that help our
customers improve efficiency and the effectiveness of their
facility cleaning and maintenance programs.”
The Wanda solution suite of products, which have
revolutionized facility cleaning management and tracking, includes
Wanda tablets and traffic counters placed in or near smart
restrooms, WandaMOBILE for tracking and recording cleaning
protocols throughout buildings, and Wanda QuickTouch, an innovative
IoT button used for quick deployment of cleaning alerts and
responses. The new agreement represents the next phase of evolution
for Visionstate and Wanda.
About Visionstate Corp.
Visionstate Corp. (TSX-V: VIS) is a
growth-oriented company that invests in the research and
development of promising new technology in the realm of the
Internet of Things, big data and analytics, and sustainability.
Through Visionstate IoT Inc., it helps businesses improve
operational efficiencies, reduce costs and elevate customer
satisfaction with its state-of-the-art devices that track and
monitor guest activities and requests. The footprint of its WANDA™
smart device now extends to hospitals, airports, shopping centres
and other public facilities across and beyond North America.
Through building up a collection of synergistic technologies,
Visionstate Corp. will continue to innovate, reduce environmental
impact and transform consumer experiences.
Issued on behalf of the Board of Directors of Visionstate
Corp.
“John A. Putters”
Visionstate Corp.
Visionstate Corp. |
Website: www.visionstate.com |
John Putters, CEO |
Twitter: @visionstate |
(780) 425-9460 |
Facebook: @visionstate |
jputters@visionstate.com |
LinkedIn:@VisionstateCorp. |
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