Airiq Inc (TSE:IQ) has released an update.
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AirIQ Inc., an IoT asset management solutions provider, has strategically acquired customers from a former reseller, adding over 1,000 devices to its portfolio and boosting annual recurring revenues by approximately $370,000. The deal, valued at $218,000, was cleverly financed through a reduction in receivables owed by the reseller, conserving the company’s cash reserves for future acquisitions. AirIQ’s CEO Michael Robb highlighted the acquisition’s potential to enhance future revenue streams without impacting the firm’s cash on hand.
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