AirIQ Inc. Acquires Customers from Former Reseller

TORONTO, ON - AirIQ Inc. (TSXV:IQ), a leading provider of IoT-based asset management solutions, announces the acquisition of customers from a previous reseller. This acquisition includes over 1,000 devices, contributing approximately $370,000 in annual recurring revenues. The transaction, valued at approximately $218,000, was financed through a reduction of debts owed by the former reseller to AirIQ, eliminating the need for cash expenditure from the company.

Michael Robb, President & CEO of AirIQ, expressed enthusiasm about the acquisition, highlighting its potential to augment future recurring revenues. Robb emphasized the strategic benefit of conserving cash reserves, which positions the company to explore further acquisitions actively. This development underscores AirIQ's continued growth and its strategic approach to expanding its customer base and revenue streams without incurring additional costs or deploying cash reserves.