iPass Inc. (NASDAQ:IPAS) Inks Deals
iPass Inc. (NASDAQ:IPAS) shares gained 2.5% after the leading provider of global mobile connectivity announced a collaboration agreement with Tech Data Corp (NASDAQ:TECD). Pursuant to the agreement, Tech Data is to use iPass SmartConnect platform to distribute its intelligent connection management and Wi-Fi service offerings.
iPass Inc. (NASDAQ:IPAS) stock is currently trading in a downtrend after coming under immense selling pressure. The stock is down by more than 50% for the year as it languishes near all-time lows.
Tech Data SmartConnect Platform Integration
The iPass SmartConnect platform is designed to ensure secure connections while on Wi-Fi, thus ensuring privacy and security with full protection. It also guarantees improved productivity given that it keeps mobile employees always on, with unlimited access to Wi-Fi.
“We’re proud to provide our channel partners with comprehensive solutions to better serve their SMB customers. The iPass SmartConnect platform creates new revenue streams and enhances customer engagement,” said Linda Rendleman, vice president of Product Marketing.
The agreement presents iPass a unique opportunity to expand its reach across the U.S and Canada. Tech Data has already reiterated plans to leverage its strategic position to help reach more customers in the channel space. The firm is to offer SmartConnect platform as a stand-alone offering or bundled into a complete solution. The firm also plans to facilitate partnerships between iPass and original equipment manufacturers.
In addition to the Tech Data partnership, iPass Inc. (NASDAQ:IPAS) has inked a strategic partnership with Ooredoo Global Services. The wholesale arm of the world’s fastest growing telecommunication company Ooredoo is to use iPass SmartConnect SDK to provide global Wi-Fi Services to its customers in the Middle East, North Africa and South East Asia.
The integration will allow the service provider to provide customers with simple, yet secure and unlimited Wi-Fi access to millions of hotspots worldwide.
“The iPass SmartConnect SDK makes it incredibly easy for network operators to integrate global Wi-Fi into their existing services. With more customers using roaming services, global Wi-Fi connectivity can prove to be a key differentiator for mobile network operators,” said iPass Vice president Mato Petrusic
Separately, iPass Inc. (NASDAQ:IPAS) is to announce its financial results for the three months ended September 30, 2017, on November 1, 2017, following the close of regular market trading The Company will also host a live conference to discuss the financial results, business activities and outlook.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.