IoT Group Signs Distribution Agreement With The Product Group
IoT Group subsidiary OK IoT Group has entered into an exclusive distribution agreement with Steven Kayalicos from The Product Group for Australasia.
The Product Group will be the exclusive distributor for IoT Group’s line of products under the agreement, including its ROAM-e flying selfie.
The ROAM-e allows users to take selfies and stream live video, with its “Follow Me” functionality using facial recognition technology, developed by IoT Group.
“The ROAM-e is the world’s first flying selfie stick, which uses actual facial recognition to follow me or you,” Simon Kantor, IoT Group executive director and founder, commented. “It’s compatible with current iOS and Android devices.
“It’s modelled on the size of a 600 ml bottle of water, and is designed to be portable, light and easy to carry, which means you can take it anywhere and use it any time.”
IoT Group has advised that 2 million ordinary class shares will be issued to The Product Group in lieu of payment of establishment fees and marketing expenses, while the distribution agreement may be expanded in the future with additional products and territories.
“Initial discussions with the major Australian retailers indicate a very strong demand for ROAM-e,” Kayalicos, The Product Group managing director, commented.
“IoT Group is ahead of the curve and they have a solid roadmap of innovative mass market products.”