DENVER, CO — June 6, 2019 — TrackX Holdings Inc. (TSX.V: TKX | OTC: TKXHF | FSE: 3TH) (“TrackX” or the “Company”), a SaaS-based enterprise asset management solution provider, announces that it has entered into an agreement for an enterprise-wide deployment of its Global Asset Management for Enterprises (GAME) solution for one of the largest furniture rental companies in the US. Under this agreement, TrackX will manage the shipping, receiving and rental returns for this customer. Beyond the initial implementation, TrackX anticipates that the deployment of GAME will expand to 25 locations nationwide and represents a contract value of $1.75M upon full deployment.
“We are glad to add this customer to our growing list of top tier companies. Our industry experience combined with our ability to support multiple workflows, across multiple environments, with enterprise scalability were driving factors in this customer’s decision to engage with TrackX,” said TrackX CEO, Tim Harvie.
TrackX is seeing more demand from customers looking to track returnable and rental assets. GAME enables companies to more effectively track, manage and reconcile the shipment, receipt and billings related to rental assets and inventory. The solution will consist of RAIN RFID tags affixed to the customer’s furniture rental assets (tables, chairs, lamps, etc.) and a network of Impinj RFID readers to track the assets in and out of the customer’s facilities. The GAME platform will analyze this information based on specific workflows, ultimately driving improved inventory and billing accuracy.
TrackX Holdings, Inc., based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IIoT) by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
For more information, please contact:
Gene McConnell, TrackX Holdings Inc.
Sean Peasgood, Sophic Capital
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur including the Company’s anticipated pipeline and value of current and customer deployments and future opportunities are the managements best estimates and cannot be guaranteed or relied upon and is forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law.