Investorideas.com releases a sector snapshot focusing on the recent rise in business solutions software featuring Advantego Corporation (ADGO)
Advantego Corporation (OTCQB:ADGO)POINT ROBERTS, WASHINGTON, UNITED STATES, June 3, 2019 /EINPresswire.com/ -- Investorideas.com, a leading investor news resource covering software solutions and technology stocks releases a sector snapshot focusing on the recent rise in business solutions software and what is driving this current trend.
According to a new market research report ‘Fixed Asset Management Software Market’ published by MarketsandMarkets, “The global Fixed Asset Management Software Market size is expected to grow from USD 3 billion in 2019 to USD 5.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period.”
“Preventive maintenance and IoT technology to boost adoption of fixed asset management software, and growing need to reduce operational cost and proliferate profits through efficient management of assets are the major factors driving the growth of the Fixed Asset Management Software Market,” the report continued.
Advantego Corporation (OTCQB: ADGO), a business solutions provider that develops stand-alone digital delivery systems, electronic and enterprise software products to capitalize on niche opportunities within a specific market, recently announced the acquisition of the North American distribution rights for wireless audio and innovative electro-acoustic products from Aska Electronics Co., Ltd. of China.
"This acquisition has been in the works for several months and culminates the hard work management has put forth that should have a significant impact on revenues moving forward,” according to Advantego CEO, Robert W. (Rob) Ferguson. “Combining Aska’s continuing annual sales increases with our ability to now expand the footprint presents an exciting time ahead for both of our firms,” he said.
Aska is a leading manufacturer of wireless audio and innovative electro-acoustic products that include proprietary noise cancellation technology and Bluetooth capability for headphones, earphones, waterproof sport earbuds, speakers and IoT devices. The firm provides its products and services as an OEM (Original Equipment Manufacturer), an ODM (Original Design Manufacturer) and a JDM (Joint Design Manufacturer) for customers worldwide.
Advantego will provide additional North American product branding, sales and distribution services for Aksa's existing and new product introductions. Aska will continue to service their existing customers and will provide research and development, product design and manufacturing services, along with private labeled products to Advantego and its customers.
As previously announced, in exchange for the distribution rights Aska will receive 700,000 shares of Advantego's preferred shares at $2 per share. The preferred shares are convertible into shares of Advantego's common stock, under certain pricing and timing conditions.
Ferguson also pointed out: “The ability to add new cutting-edge technology within the broad range of ASKA’s already unique capabilities presents both a great opportunity and challenge for Advantego. To address both, we have expanded several relationships recently in anticipation of this to maximize the opportunities we now see in front of us and are looking forward to seeing the results of our new joint efforts beginning in the third quarter and throughout the rest of the year.”
Increased revenue and continued growth supports the idea that this is a still a segment to watch in the tech sector as demand continues to reduce operational costs and proliferate profits through efficient management of assets.
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