IGEN Networks Subsidiary Nimbo LLC Announces Partnership with Star Shield Solutions LLC and Sky Force Technology Inc. to Launch Automotive Dealership Programs in Southern California
Initial order received to install systems on 500 vehicles
Murrieta, CA – (Marketwired – June 2, 2015) - IGEN Networks Corp (the “Company” or “IGEN”) (OTCQB: IGEN) (CSE: IGN), announces that its wholly owned subsidiary, Nimbo LLC (“Nimbo”), in partnership with Star Shield Solutions LLC and Sky Force Technology Inc., has launched a pilot program targeted at a high volume automotive dealership store located in Southern California. The store represents one of sixteen dealerships in Southern California with a combined estimate of 3200 vehicles available for program activations each month. The partners will market products and technology that provide protection and management of vehicles, as well as a roadside assistance program. Shipments and installation on 500 vehicles has already begun. Jim Kwon, Director of Marketing and Business Development of Star Shield Solutions, stated, “We are extremely excited to be partnered with Nimbo LLC, and believe that their in-depth knowledge of the retail automotive dealership Industry, along with their flexibility to adapt to the dealership environment, will allow us to offer a highly competitive and compelling solution to our customers.”
Bill Boyles, VP Sales and Marketing of Nimbo LLC, stated, “This opportunity is a significant milestone for us in establishing market presence in Southern California. By combining our unique programs with Star Shield’s access to dealerships throughout the state, we will be establishing a significant foot-print in one of the largest automotive markets in the country.”
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 Star Shield Solutions, LLC:
Star Shield Solutions, LLC is an OEM and aftermarket supplier of automotive solutions nationwide. They supply OEM genuine accessories for Toyota, Lexus, Scion, and Audi. Star Shield Solutions, LLC is also an authorized Aftermarket Distributor of 3M Auto Care products. Sky Force Technology Inc., is an authorized distributor of GPS products nationwide for indirect lending solutions for 3rd Party Lenders in the Retail Automotive Dealership market and offers nationwide installation services via Star Shield Solutions Certified Installation network for both OEM and Aftermarket applications.
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.
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