Ann: GENERAL: IKE: Partnership to Develop Smartphone Measurement Systems

• Release Date: 09/10/14 09:01
• Summary: GENERAL: IKE: Partnership to Develop Smartphone Measurement Systems
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					IKE
09/10/2014 09:01
GENERAL

REL: 0901 HRS ikeGPS Group Limited (NS)

GENERAL: IKE: Partnership to Develop Smartphone Measurement Systems

ikeGPS, In-Q-Tel Expand Partnership to Develop Smartphone Measurement Systems

ikeGPS ("ike"), the maker of remote measurement hardware and software
solutions, has announced a follow-on technology development agreement and
strategic partnership with In-Q-Tel(IQT), the non-profit, strategic
investment firm that identifies innovative technology solutions to support
the missions of the U.S. Intelligence Community. The agreement will further
enable the design and development of ike's smartphone measurement platform,
Spike, utilizing the company's intellectual property.

"We are excited to partner with In-Q-Tel to build the next generation of
platforms for the U.S. Intelligence Community," said ike CEO Glenn Milnes.
"This partnership is another validation of our new solutions' ability to
provide game-changing remote measurement capability, and is a major step to
addressing another of ike's key target markets - defense and intelligence. We
are really delighted to be working with In-Q-Tel and its customers. "

At the time of its initial investment, In-Q-Tel discussed the value of the
company's technology. "ike has established itself as a market leader across
remote measurement technologies and we are impressed with the unique
capabilities they can provide to our customers," said Robert Ames, Senior
Vice President at IQT. "Our partnership with ike will provide our government
customers with an opportunity to utilize this innovative product set and
build upon its capabilities."

Milnes said "This agreement with In-Q-Tel will generate revenue representing
more than the total amount of contract revenue forecast for both the 2014/15
and 2015/16 financial years, as set out in the Prospective Financial
Information within ike's prospectus that was registered in June this year.
As importantly the agreement is also expected to underpin additional direct
sales opportunities for ike's smartphone software and hardware into the
defense and intelligence market."

Milnes added "We are pleased to have concluded the first half of the 2014/15
financial year with revenue in line with that forecast, and pleased to be
putting contracts in place such as this In-Q-Tel agreement to underpin future
sales. A more detailed update on the company's performance will be provided
with the interim financial report in November."
End CA:00256243 For:IKE    Type:GENERAL    Time:2014-10-09 09:01:09