Cloud Stock Breaking News: IGEN Networks (IGEN)
Subsidiary Nimbo LLC Signs Major Account Agreement With Verizon Wireless (VZ)
MURRIETA, CALIFORNIA - May 21, 2015
(Investorideas.com newswire) IGEN Networks
Corp (the "Company" or "IGEN")
(IGEN) (CSE:IGN), announces that its wholly owned subsidiary, Nimbo LLC
("Nimbo"), signed a Major Account Agreement ("Agreement" or
"Partnership Program") with Verizon Wireless. This agreement
establishes Nimbo LLC within Verizon's partner program for the marketing of
Nimbo's products and services over Verizon's national wireless services. The
Partnership Program includes the sharing of sales leads through the Verizon
Wireless (VZ) sales and support organization that covers the major automotive
dealer markets across the United States.
Neil Chan, Chief Executive Officer of IGEN
Networks, stated, "This Partnership Program with Verizon Wireless is
significant for us. It enables our sales team to partner with Verizon, the
largest wireless operator in the U.S., to sell into automotive dealer channels
and reach large new potential customers. We expect this partnership to not only
help us grow our subscriber base but to also allow our customers to benefit
from the services offered through Verizon's national support
organization."
Mr. Chan added, "Our product and services
allow every day car owners to have access to timely information on the status
of their vehicles and peace-of-mind that family members are safe and
secure."
According to First Research, an estimated 50,000
automotive dealers generated over $700 billion in annual revenues that
accounted for 15.6 million new vehicles and 40.5 million used vehicles sold through
dealer channels in the US in 2013. These dealer channels are expected to double
in revenues over the next five years through to 2018. It is also noted that
there are more than 800,000 vehicles stolen in the U.S. each year. The roadside
assistance industry generates more than $6B in annual revenues.
About Verizon Wireless
Verizon Wireless is an innovative wireless
communications company that connects people and businesses with the most
advanced wireless technology and service available.
Our company launched the nation's first 3G wireless
broadband network. We were also the first tier-one wireless provider in the
nation to build and operate a 4G LTE network. With 4G LTE, our customers can
access the Internet and stream media faster than ever-and experience their
mobile world in real-time.
As the nation's largest wireless company, we serve
109 million retail connections and operate more than 1,700 retail locations in
the United States. Globally, we offer voice and data services in more than 200
destinations. Verizon Wireless is wholly owned by Verizon Communications Inc.
and is headquartered in Basking Ridge, N.J.
About Verizon Communications
Verizon Communications Inc. is a global leader in
delivering broadband and other wireless and wireline communications services to
consumer, business, government and wholesale customers.
About IGEN Networks Corporation:
IGEN Networks Corporation invests in and manages
companies that deliver cloud-based services through Machine-to-Machine (M2M)
device technologies for the protection and management of mobile assets and
commercial fleets. The Company offers a range of self-provisioning applications
which are used to manage and recover stolen assets, provide access to roadside
assistance programs, and improve productivity of commercial fleets.
IGEN is a fully reporting company in both Canada
and the United States. It is publicly traded on the OTCQB under the symbol
IGEN, and listed on the CSE under the symbol IGN. For more information, please
visit www.igen-networks.com.
Forward-Looking Statements
This news release may contain forward-looking
statements or forward looking information within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995 and Canadian securities law.
The terms and phrases "goal", "commitment", "guidance",
"expects", "would", "will",
"continuing", "drive", "believes",
"indicate", "look forward", "grow",
"outlook", "forecasts", "intend", and similar
terms and phrases are intended to identify these forward-looking statements.
Forward-looking statements are based on estimates and assumptions made by IGEN
in light of its experience and its perception of historical trends, current
conditions and expected future developments, as well as other factors that IGEN
believes are appropriate in the circumstances, including but not limited to statements
regarding investment liquidity, financing options and long term goals of the
Company, general economic conditions, IGEN's expectations regarding its
business, customer base, strategy and prospects, and IGEN's confidence in the
cash flow generation of its business. Many factors could cause IGEN's actual
results, performance or achievements to differ materially from those expressed
or implied by the forward-looking statements, including, without limitation:
risks related to competition; IGEN's reliance on key personnel; IGEN's ability
to maintain and enhance its brand; and difficulties in forecasting IGEN's
financial results, particularly over longer periods given the rapid
technological changes, competition and short product life cycles that characterize
the mobile application industry. These risk factors and others relating to IGEN
that may cause actual results to differ are set forth in the under the heading
"Risk Factors" in IGEN's periodic filings with the British Columbia
Securities Commission and the U.S. Securities and Exchange Commission (copies
of which filings may be obtained at www.sedar.com or www.edgar.com). These
factors should be considered carefully, and readers should not place undue
reliance on IGEN's forward-looking statements. IGEN has no intention and
undertakes no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.
Contact:
IGEN Networks Corporation
Attn: Richard Freeman
1(888)244-3650
rfreeman@igen-networks.com
www.igen-networks.com
Attn: Richard Freeman
1(888)244-3650
rfreeman@igen-networks.com
www.igen-networks.com
Green Chip Investor Relations:
Attn: Matt Chipman
(818)923-5302
IGEN@GreenChipIR.com
www.GreenChipIR.com
Attn: Matt Chipman
(818)923-5302
IGEN@GreenChipIR.com
www.GreenChipIR.com
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