IKE
05/01/2016 08:30
GENERAL
NOT PRICE SENSITIVE
REL: 0830 HRS ikeGPS Group Limited (NS)
GENERAL: IKE: ikeGPS elects to cease use of General Electric trademark
ikeGPS Group Limited (NZX:IKE), the New Zealand measurement technology firm,
announces that it has chosen to cease using the General Electric (GE)
trademark with its electric utility solution in accordance with the terms of
the agreement between the parties.
ikeGPS' reseller relationship with GE Digital Energy, the operating GE
business unit that serves the utility and infrastructure market, is not
materially affected by this change. ikeGPS will also continue to work
unchanged with GE Digital Energy's partners.
In practice this change means that the company's electric utility solution
will now be labelled 'by ikeGPS' rather than as previously labelled 'GE
MapSight by the team at ikeGPS'. The solution continues to offer the same
integration into the GE SmallWorld Electric Office, and ikeGPS and GE will
continue to assess future integration options with respect to various
software products.
"GE, as a powerhouse across the electric utility market, are an important
partner for us. However, we have made this specific branding decision so to
focus on increasing ikeGPS brand equity and the associated economics across
our fast-maturing portfolio of products" said ikeGPS chief executive Glenn
Milnes. "In particular the ikeGPS brand is now established and respected
across the US electric utilities market. For FY17, we expect that this
change will have no material impact on our revenue growth however that it
will increase profitability due to no royalties being payable to GE Trademark
Licensing on relevant future sales."
ENDS
Contact
Glenn Milnes, CEO
ikeGPS Limited
+1 720-418-1936
[email protected]
End CA:00275938 For:IKE Type:GENERAL Time:2016-01-05 08:30:15
