Ubiquity Inc(OTCBB:UBIQ), a licensing company and technology development, having a broad portfolio of patents across a number of technology market verticals, stated it has ventured into a license agreement with investment partners in Hong Kong for launching operations with partner firm called Sprocket Hong Kong Limited.
The Registrars of Companies gave operating status to Sprocket Hong Kong Limited on March 13, 2015. The partner firm is presently finalising contract negotiations with distribution partners for Europe, Australia and Southeast Asia for commercialising Ubiquity’s Sprocket platform.
Steve Koskie, Responsible for Business Development of Ubiquity, stated that Sprocket Hong Kong would be Ubiquity’s central hub in Asia that would be able to accommodate joint venture partnership’s licensing deals.
He further added that the firm’s Joint Venture with Amtec would be helped due to presence in Asian market allowing further licensing of Sprocket platform to firms such as Samsung, Huawei, Lenovo and HTC.
Director and Chief Executive Officer of Strategic Capital Management, LTD, James Tsiolis, one of the investors in Sprocket Hong Kong opined that the only focus of Sprocket HK would be for establishing distribution partnerships as well as channels for the company.
Ubiquity along with Sprocket HK has finished last elements of testing facilitating commercialization of Sprocket’s icloud technology and company’s mobile devices.
Chris Carmichael, CEO of Ubiquity, stated that the firm is testing the cutting edge software services platform ‘Sprocket’ in the market of Southeast Asia and has been able to meet benchmarks allowing the firm to launch it in the region.
He added that the development team is working on server functionality and the code of the Sprocket platform that would be launched on a global basis to corporate and enterprise clients. He believes that would commence in providing revenue for Ubiquity and Sprocket Hong Kong.