IKE
07/10/2015 09:33
GENERAL
NOT PRICE SENSITIVE
REL: 0933 HRS ikeGPS Group Limited (NS)
GENERAL: IKE: Stanley Introduces the Smart Measure Pro
For Immediate Release Oct. 7, 2015
Stanley Introduces the Smart Measure Pro
- ikeGPS' smartphone measurement solution hits North American retail stores -
Wellington, New Zealand--ikeGPS (NZX: IKE) and Stanley Black & Decker Inc.
announce the launch of the new STANLEY(R) Smart Measure Pro product, a
Stanley-branded smartphone measurement solution designed and delivered by
ikeGPS. Beginning mid-October, the product will be launched and sold through
Lowe's, a home improvement retailer with approximately 1,850 stores across
North America. At that time, the product will also be included in Stanley's
product line up at http://www.stanleytools.com/.
The Smart Measure Pro, part of Stanley's new Smart Tech line of products,
allows users to take measurements from images using their smartphone and the
Smart Measure Pro mobile app. Users can also view, edit, export and map
images from their desktop. The Smart Measure Pro is an essential tool for any
construction professional or do-it-yourself user looking to save time and
money when measuring, estimating, quoting or conducting material
calculations.
"We are delighted to be rolling out this product at scale in partnership with
Stanley Black & Decker, a Fortune 500 company and one of the largest brands
and distributers in the global construction and DIY markets," says ikeGPS CEO
Glenn Milnes. "We are equally pleased that the initial retail channel for the
launch of the Smart Measure Pro is Lowe's, the leading chain of stores
operated by Lowe's Companies Inc., a Fortune 50 company operating home
improvement stores across the U.S. and Canada.
"We are now working hard to ensure that the launch and sell-through is
successful at Lowe's such that additional channels and geographies can be
added as soon as possible. In particular, we believe that the European market
presents a significant follow-on sales opportunity.
"The Smart Measure Pro is another significant step in ikeGPS' strategy to
deliver high-volume mobile hardware and mobile apps, and, on the back of
this, to provide high-value subscription software products to end users via
our cloud-based measurement platform. In this case, we are providing an
end-to-end solution--including the hardware tool, mobile app and cloud
software solution--for measurement challenges faced by construction and DIY
customers.
"This solution is based entirely on ikeGPS intellectual property--where
ikeGPS manufactures and delivers the hardware units, ikeGPS builds and
delivers the smartphone app into the Apple App store and Google Play store,
and ikeGPS hosts the cloud-based software and subscription product. All of
these components are branded as 'Stanley Smart Measure Pro.' The retail price
point for the hardware unit and smartphone app will be approximately NZ $230,
and subscribers to the cloud software service will pay approximately NZ $19
per month or NZ $185 per annum. The return on investment for customers using
the Smart Measure Pro can be measured in days."
As previously advised, this launch order will generate approximately NZ $2.5
million revenue for ikeGPS in FY16, surpassing the NZ $1.4 million forecast
in the company's PFI from its OEM channel. In addition, this launch order is
expected to generate additive subscription revenue that will accrue later in
FY16, FY17 and beyond. ikeGPS will update the market on both subscription
uptake and follow-on orders in due course. ikeGPS will also introduce the
product itself in mid-October in conjunction with the release to Lowe's
stores.
###
About ikeGPS
ikeGPS is changing the way the world is measured, utilizing its smart laser
measurement solutions to capture, record and export measurement data.
Electric utility, telecom, government, engineering, construction, real
estate, signage, and other field data collection-based professionals use
ikeGPS products to modernize the way measurements are taken and shared.
Spike, a laser accurate Smartphone measurement solution, and GE MapSight, an
all-in-one customizable field data collection solution, uniquely combine
intelligent software and hardware into comprehensive but simple-to-use tools.
With an ike photo, you can capture measurement, distance, location and other
data in real time, significantly improving business process, user
productivity and safety.
ikeGPS is headquartered in Wellington, New Zealand and is listed on the New
Zealand Stock Exchange under the stock symbol IKE. The company's global sales
and marketing organization is based in Broomfield, Colorado, which supports
global efforts in the Americas, EMEA, and APAC. For more information, visit
http://www.ikegps.com/.
About STANLEY(R):
STANLEY(R), a brand of Stanley Black & Decker, Inc. is a diversified
worldwide supplier of tools and engineered solutions for professional,
industrial, woodworking, construction and do-it-yourself use. For over 170
years, the trusted Stanley(R) brand has been synonymous with quality, value
and reliability. Its well-known hand tool and storage brands include
Stanley(R), and FatMax(R). Headquartered in New Britain, Conn., Stanley Black
& Decker, Inc. operates multiple manufacturing facilities and sales offices
throughout the globe. For more information, visit www.STANLEYtools.com or
follow Stanley on Facebook and Twitter
Contact
Glenn Milnes, Chief Executive Officer
ikeGPS, Inc.
+1-720-418-1936
[email protected]
End CA:00271382 For:IKE Type:GENERAL Time:2015-10-07 09:33:08
