While C-COM, which makes auto-deploying satellite antenna systems, did not reveal the name of the company or any financial terms, the company said its technology will integrate with the new partner's existing products and services. C-COM said the manufacturer has more than 90 subsidiaries in more than 20 countries.
"This white label agreement should accelerate the introduction of our iNetVu mobile antennas into many new vertical markets, especially in Asia," said president and CEO Leslie Klein. "Delivering comprehensive turnkey solutions using our highly acclaimed iNetVu mobile antennas, coupled with the innovative technologies from our new partner, should open up new opportunities to both companies."
The stock, already exploding 160 per cent higher this year, moved 1.2 per cent on Tuesday Morning.
The latest deal comes just weeks after C-COM partnered with South Africa's largest independent telecommunications firm, Vox Telecom, as the Ottawa-based company continues to explore new frontiers for its technology.
Its product has the unique ability of delivering high speed internet, video, email and VOIP at the push of a button in locations where other means of connection may not be possible.
The track record is evident in the last quarterly numbers, released on July 9, showing a 78 per cent jump in net income to just shy of $1 million. Revenue leaped 42 per cent to $4.8 million.