VANCOUVER, British Columbia, May 26, 2021 – Loop Insights Inc. (MTRX:TSXV; RACMF:OTCQB) (the “Company” or “Loop”), a leading data intelligence company using artificial intelligence to drive real-time insights, enhanced customer engagement and automated venue tracing for global retailers and venues, is pleased to announce a multi-year reseller agreement with TELUS (T:TSX; TU:NYSE) in which TELUS will be selling Loop solutions directly to their national customer base as a TELUS product.
This upgrade in the Loop – TELUS relationship from IoT Marketplace partner to procurement reseller of Loop’s solutions represents a significant progression in the relationship and further supports the confidence shared by the world’s biggest technology companies in Loop as a global leader in real-time data driven analytics. As a result of this new upgraded relationship, Loop will enjoy significant business development benefits including:
- Direct access to the large, national network of TELUS clients
- Immediate access to the large, national TELUS sales & support team
- TELUS reputation and status as a trusted national supplier
- Accelerated sales growth with limited increase to infrastructure
- Multiple-Year commitment and long-term sales visibility
Andrew Turner, TELUS VP Strategic Operations stated: “It has been quite something to witness Loop evolve over the past couple of years as they have continued to make big strides and deliver for us. The TELUS team have been extremely impressed with the high level of product innovation and data services that Loop offers to their customers as well as to the TELUS clients. TELUS is always looking to partner with innovative and disruptive companies, and this reseller agreement with Loop will now provide our customers with the best of both worlds, Loop solutions sold and serviced by TELUS.”
Loop Insights CEO Rob Anson stated “We are incredibly proud of this new reseller agreement with TELUS and the validation it brings to Loop through their confidence to sell our solutions directly to their customers. We were honoured to be added to the TELUS IoT Marketplace in 2020 but now becoming one of the select few products to be resold as their own to their national client base is the ultimate achievement. We look forward to growing our businesses together by delivering great solutions to TELUS clients.”
TELUS is one of Canada’s largest telecommunications companies with $15.5 billion in annual revenue in 2020 and 16 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. TELUS will provide marketing, pre-sales, and sales services for Loop products which will allow Loop to scale and grow the business much faster through a trusted partner. TELUS will also provide service and support for Loop products, which will help Loop cut costs as it reduces the investments that Loop will need to make to build out a service and support infrastructure.
TELUS will be offering the full suite of Loop Products including Loop’s Data Insights and Wallet pass Engagement platforms, that offer 3 key benefits to TELUS clients:
- Interoperable Data Connectivity through proprietary technology that transforms companies from edge to cloud bridging the gap between online and offline data.
- Real-time Insights that increase operational efficiencies leading to higher profitability.
- Personalized Engagement that generates new line revenue, reduces customer acquisition costs, and increases ROI.
This reseller agreement with TELUS represents further validation of Loop’s reseller channel business model and adds to Loop’s growing roster of reseller and licensing partners such as NTT Data, Vend, Oracle and Shopify. Loop’s mission is to level the playing field between brick & mortar and online giants, through reseller partnerships that validate our world-leading real-time data analytics capabilities. Our success to date on both the partnership and technology fronts positions Loop extremely well to capitalize on this growing market on a global scale.
This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management. https://agoracom.com/ir/LoopInsights.
About Loop Insights
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, venue tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with $15.5 billion in annual revenue in 2020 and 16 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. We leverage our global-leading technology to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada’s largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world’s most established brands.
Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than $700 million and 1.3 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world.
For more information, please contact:
Loop Insights Inc.
This news release contains certain statements that constitute forward-looking statements or information, including statements regarding Loop’s business and technology; the ability of Loop to engage with industry participants to achieve its goals; the development of Loop’s technology; and the viability of Loop’s business model. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated, or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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