Ubiquity Inc (OTCBB:UBIQ) is pushing for deeper presence in Asia’s software services market with its Sprocket platform. The company announced that it will license its Sprocket technology to a newly-found partner company known as Sprocket Hong Kong Limited, or simply Sprocket HK. Ubiquity hopes that the deal with Sprocket HK will enable it to tap greater opportunities in the software services market in Asia, Europe and Australia.
Ubiquity disclosed that its investment partners in Hong Kong helped it towards the launch of Sprocket in the Asian region through Sprocket HK, a new company that was recently granted operating status in Hong Kong by the region’s registrar of companies. Sprocket HK will hook up distribution partners in markets such as Southeast Asia, Europe and Australia to help with the commercialization of the Sprocket platform in the markets.
A healthy deal
According to Ubiquity Inc (OTCBB:UBIQ)’s executive for business development, Steve Koskie, Sprocket HK will become the central hub for Sprocket platform in Asia. Additionally, Koskie stated that the deal with Sprocket HK is healthy for their joint venture with Amtec.
Ubiquity Inc (OTCBB:UBIQ)’s presence in Asia is also expected to boost the licensing of Sprocket platform to enterprise clients such as Lenovo, Hauwei, HTC and Samsung Electronics.
On his part, James Tsiolis, whose firm Strategic Capital Management, LTD has invested Sprocket HK, said that the primary focus of the new company is to built Sprocket distribution partnerships and channels in Asia and beyond.
The coming weeks will see Sprocket HK and Ubiquity unveiling the board of the new company as well as channel partners.
Hitting the road running
According to Ubiquity Inc (OTCBB:UBIQ)’s Chris Carmichael, they have met all the requirements to allow the launch of Sprocket in the Southeast Asian market. The company has been running a beta test of the software services platform in the region where all benchmarks have been met. Carmichael also disclosed that they are on course for further rollout of Sprocket on a global basis as they target corporate and enterprise clients.