Media Release 17 Jan 2018
Release Date: Immediately
Location tracking device and service provider Yepzon Oy has made a licensing and resale agreement with Tramigo Oy, a company specializing in vehicle tracking devices. Through the joint effort, both companies are hoping to gain a strong presence on the personal security market in several emerging countries – the goal is to sell more than 100,000 devices in 3 years in Africa, South America, and Asia.
Yepzon has a strong position as a location service provider in Europe, the United States, and India. Yepzon’s experience of the Indian market has shown the enormous hidden potential for personal locators in emerging economies.
“In our opinion, there is a great demand for personal locators in emerging countries. Together with Tramigo, we will be able to gain access to such markets quickly without a significant market entry investment,” says Yepzon’s founder, Otto Linna.
The cooperation agreement is in line with Yepzon’s strategy, strengthening the company’s global presence. In the past, Yepzon’s technology has already been licensed by the US company PocketFinder.
Tramigo has created markets in emerging countries in Africa, South America, and Asia for over ten years. Tramigo has more than 5,000 active retail partners in these countries, and the company’s products have been supplied to more than 130 countries.
So far, Tramigo has manufactured and sold tracking devices and software for vehicles. Thanks to the cooperation with Yepzon, Tramigo will venture into a new business area in person tracking. Tramigo will use its own e-SIM cards in the Yepzon devices it sells, which means expanded service business for Tramigo.
“We want to show the way to opening the consumer IoT mass market in emerging markets. Expansion to person tracking on our market areas was the natural next step for our business. Licensing and resale are a great way to do this because Yepzon’s locator devices fit seamlessly in our product portfolio,” says Mr Arto Tiitinen, CEO, Tramigo Oy.
Tramigo is hoping to gain one million active users for vehicle and person tracking devices manufactured and resold by Tramigo by 2019.
The licensing and resale agreement was made on December 29, 2017. Tramigo will start the sale of Yepzon™ Freedom in selected countries during spring 2018.
Otto Linna, CEO
+358 43 217 0275, email@example.com
Arto Tiitinen, CEO
+358 40 500 2923, firstname.lastname@example.org
Yepzon Enterprises is the developer of easy-to-use mobile location services. Founded in 2013, the company has a staff of 8 and employs approximately 20 product developers on subcontracts. Yepzon’s global, but primarily Finnish, ownership is divided between private investors operating in different sectors. The company’s headquarters are in Tampere, Finland. Yepzon Ltd., registered in London, is a subsidiary completely owned by Yepzon Oy. Yepzon Inc., registered in Nevada, USA, is a joint enterprise with Global Expansion Solutions. Yepzon Enterprises India Pvt. Ltd is a joint venture of Yepzon Oy and VVDN Technologies in Delhi, India. www.yepzon.com
Tramigo Oy is a leading vehicle tracking technology provider and consumer IoT and locator market-builder in key market areas in Africa, Asia, the Middle East, and Latin America. Tramigo Oy has headquarters in Finland and several local offices in its market areas. Tramigo’s products are globally available. www.tramigo.com