SPYR Inc. (SPYR) Enters Smart-Home Market Through Strategic Acquisition – GlobeNewswire
NEW YORK, March 31, 2022 (GLOBE NEWSWIRE) — NetworkNewsAudio – SPYR Inc. (OTCQB: SPYR) announces the availability of a broadcast titled, “Smarter Homes, Smarter Cars, Smarter People.”
To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast
To view the full editorial, please visit: https://nnw.fm/H6egy
The numbers around the smart market are eye popping. The connected car market is forecast to grow from $54 billion in 2020 to $166 billion in 2025. The global smart-home security cameras market alone is forecast by Grand View Research to grow 15.7% annually and reach $11.89 billion by 2027. The global market for all smart devices in a home is forecast by Statista to advance from $91 billion in 2020 to $159 billion in 2024. There was good reason Amazon shelled out $1 billion in 2018 to buy Ring, a smart-doorbell company rejected on Shark Tank. The strategic buyout wasn’t just about the technology, it was for quick access into the burgeoning smart-home market as evermore consumers seek to control their homes wirelessly.
SPYR Inc. (OTCQB: SPYR) made a strategic acquisition of its own to enter the smart-home market, buying Applied Magix Inc., a registered Apple developer and reseller of Apple ecosystem compatible products. Bringing Applied Magix under the SPYR umbrella accelerated the parent company’s push into the smart-device market. SPYR is now laser focused on smart-home and smart-car opportunities, specifically users of Apple CarPlay and Apple HomeKit.
About SPYR Inc.
SPYR is a technology company which, through its subsidiary, Applied Magix Inc., develops and resells Apple(R) ecosystem compatible products with an emphasis on the growing multibillion-dollar IoT smart home and connected car markets. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence (“AI”) and smart-technology products.
For more information about the company, visit https://ir.SPYR.com.
NOTE TO INVESTORS: The latest news and updates relating to SPYR are available in the company’s newsroom at https://ibn.fm/SPYR
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
New York, New York
NetworkNewsWire is part of the InvestorBrandNetwork